FOR IMMEDIATE RELEASE:
Pipeline Project Approvals Welcome News for Struggling
Oil and Gas Services Sector
CALGARY, AB (November 30, 2016) – The Petroleum Services Association of Canada (PSAC) applauds the Government of Canada’s approval of the replacement of Enbridge’s Line 3 and Kinder Morgan’s Trans Mountain pipeline project today.
“We recognize that these were not easy decisions for the government to make however, opening the way for Canada’s responsibly developed oil to reach international markets will provide jobs and economic benefits to all Canadians” says Mark Salkeld, President & CEO of PSAC.
“Canada’s oil and gas services sector has been extremely hard hit by the downturn in commodity prices over the last two years having laid off tens of thousands of workers, many of whom are middle class wage earners. These new pipeline projects will mean not only construction jobs but thousands of additional jobs too for the ongoing operation of the pipelines, for the development and production of the oil to fill the pipelines throughout their lifespan, and for all the services, manufacturing and suppliers of equipment and materials involved in the vast supply chain that spans all of Canada. Pipelines truly are national initiatives.”
International access also means that Canada can receive world prices for its oil too, the benefits of which are shared with all Canadians through royalties and taxes to governments that help to fund health care and education.
People in many other countries dream of enjoying the same standards of living that we as Canadians take for granted, supplying them with the natural resources with which Canada is so abundantly blessed will help them to achieve this goal.
Approval of Line 3 will help to debottleneck access to US markets and improve the safety and integrity of aging infrastructure recognizing that pipelines are the safest way to transport oil. Just as cars are built far safer and more efficient than they were 50 years ago, so are pipelines.
Today’s announcement was welcome news to the Petroleum Services Association of Canada (PSAC) and its members again signaling that the federal government is serious about finding ways for Canada’s natural resources to reach global markets and that we are open for business paving the way for continued capital investment. We look to the government now to support these projects through to completion.
The Petroleum Services Association of Canada (PSAC) is the national trade association representing the service, supply and manufacturing sectors of the upstream petroleum industry. PSAC is “Working Energy” and as the voice of this sector, advocates for its members to enable the continued innovation, technological advancement and in‑the‑field experience they supply to Canada’s energy explorers and producers, helping to increase efficiency, improve safety and protect the environment.
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Petroleum Services Association of Canada