FOR IMMEDIATE RELEASE:
Petroleum Services Association of Canada relieved
Prime Minister Trudeau is taking action on
Trans Mountain Pipeline Expansion
Calgary, Alberta (April 16, 2018) – The Petroleum Services Association of Canada (PSAC) is relieved that Prime Minister Trudeau returned from his trip to Peru to meet with Alberta Premier Notley and B.C. Premier Horgan to engage face-to-face on this critical issue facing the nation. Given the high stakes of what’s in play, Canadians need reassurance that the federal government will “reassert and reinforce” their legal authority to approve the Trans Mountain Pipeline expansion project, ensuring it gets built.
“At the heart of this issue is not just a pipeline project, however vitally important to our national economy,” says Tom Whalen, President of PSAC. “The larger issue is the crisis in confidence that investors cannot rely on the rule of law in Canada for investment of their capital, especially if the government must resort to taking a financial position in the project to ensure it proceeds.”
PSAC is disappointed, however, that Premier Horgan remains steadfast in his opposition and intention to stop the twinning of this already existing pipeline. The fact that this pipeline and its right-of-way already exists is getting lost. Furthermore, the concerns which Premier Horgan is now raising were addressed in the lengthy NEB process that led to the approval of the pipeline. For 30 years now, diluted bitumen has been shipped safely through Vancouver’s harbour, and crude oil for over 60 years. The Ocean’s Protection Plan announced by the Government of Canada will serve to continue that record of safe transport through global best practices. “BC’s coastline is Canada’s coastline and we all care that it is well protected,” continued Tom Whalen.
“We are also deeply concerned about the effect this dispute is having on investor confidence,” says Scott Van Vliet, Chair of PSAC and founder and CEO of Environmental Refuelling Systems, Inc. “Capital investment has plummeted in Canada and this crisis in confidence only serves to direct much needed investment elsewhere.”
Much is at stake with this project – over half a million jobs across this country that are supported by the oil and gas industry including manufacturing jobs in eastern Canada and many for Indigenous people; tax revenues which support our standard of living including health care, education, and social programs; and revenue for continued innovation and technology development to improve environmental outcomes.
Hearing first-hand from Prime Minister Trudeau today that the federal government will enact legislation to ensure that this pipeline gets built is welcome news. Expedient resolution of this situation is imperative to restore waning investor confidence.
The Petroleum Services Association of Canada is the national trade association representing the service, supply and manufacturing sectors within the upstream petroleum industry. As the voice of Canada’s petroleum service, supply and manufacturing sector, PSAC 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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For more information, contact:
Tom Whalen, President and CEO
Petroleum Services Association of Canada (PSAC)