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RELEASE: BCBC Welcomes Provincial Government Approval of the Trans Mountain Pipeline Expansion Project
Vancouver, BC - The Business Council of British Columbia welcomes today’s decision by the province to grant an environmental assessment certificate, with conditions, to the Trans Mountain Pipeline Project and to confirm that this project has met the government’s five conditions. This is an important step in advancing a nationally significant project that will deliver benefits to British Columbia communities and workers while meeting growing global demand for oil.
“Today’s announcement, coupled with the federal government’s conditional approval of the project, recognizes that Canada can safely and sustainably protect our marine and terrestrial environments while meeting the growing global demand for oil, even as the world shifts towards renewable and lower carbon energy and cleaner technologies,” said Greg D’Avignon, President and Chief Executive Officer of the Business Council.
“This decision affirms that through rigorous, independent, transparent and evidence-based regulatory review processes, such as that undertaken by the National Energy Board and the Province of British Columbia, Canada can approve large-scale industrial projects and continue to be a place that is open to job creating capital investment,” said D’Avignon.
“The province’s consistent approach to pipeline expansion, while protecting our environment through the five conditions, has enabled meaningful economic participation by communities, First Nations and British Columbia workers,” said D’Avignon. “Kinder Morgan, through respectful listening and comprehensive consultations has over 50 signed economic benefit agreements, ensuring that First Nations and communities along the pipeline share in project benefits. This will accelerate opportunities for reconciliation and lead to greater participation by First Nations in the economy.”
Over the next 20 years, the $6.8 billion Trans Mountain Pipeline expansion project is expected to provide over 75,000 person years of employment during construction. The project will also deliver over $490 million in construction spending in communities throughout British Columbia, in addition to the potential $1 billion negotiated between the province and Kinder Morgan under the fifth condition. Over twenty years, it is estimated the project will have a $19.1 billion impact on BC’s GDP with over $2.2 billion in tax revenue for provincial and local governments.
“If you care about the global environment, and given International Energy Agency reports that the demand for energy will continue to grow, you would want Canada to be the safe, reliable and sustainable supplier of that oil,” added D’Avignon. “Canada’s responsibly sourced and well-regulated energy resources can play an important role in fulfilling the global need for energy, while achieving higher environmental and safety standards than most, if not all, of our competitors.”
This is the first oil pipeline project approved in British Columbia in some time, juxtaposed against progress in the United States where 8,600 kms of oil pipelines have been added in the last two years, the equivalent of 7.5 Trans Mountain Pipeline expansion projects.
About the Business Council of British Columbia
Established in 1966, the Business Council is the preeminent business organization in the province with a strong history of providing relevant public policy research and advice on issues to enhance BC’s competitiveness. Since its inception the Council has been fortunate to have as members major employers from across all sectors in BC’s economy who have played meaningful roles in building British Columbia while employing hundreds of thousands of BC’s workers.
Today, the Council is a source for insight on the BC and Canadian economies and how international trends and domestic policies are impacting our ability to compete in a global economy. Priority areas of focus include: environmental sustainability policies, economic reconciliation with First Nations, innovation, building a competitive tax and regulatory regime, supporting trade and market access, and the development and the attraction of a deep and diverse talent pool.
Cheryl Maitland Muir
Cheryl.Muir [at] bcbc.com