TransCanada Ends Two Pipeline Projects, Citing 'Changed Circumstances'

Katie Nolan moves from Fox Sports 1 to ESPN

"Something needs to change".

Pipelines in Western Canada, which holds the world's third-largest crude reserves largely in Alberta's oilsands, can carry about 3.3 million barrels of crude a day, according the the Canadian Association of Petroleum Producers, or CAPP.

Realizing that Energy East would never be allowed if its full climate impact was accounted for, TransCanada has walked away from the project.

Calgary-based TransCanada said it's abandoning the project after a careful review of changed circumstances.

"Obviously it's not great that they've canceled the project, but overall I think it was anticipated", said Manash Goswami, a Portfolio Manager with First Asset Investment Management Inc. [The] company that made 700 changes to its plans as part of that response.

Suncor Energy Inc. (TSX:SU), Canada's largest oil, gas and refining company by market capitalization, had hoped Energy East would allow it to replace USA and offshore oil at its 137,000-barrel-per-day Montreal refinery, said spokeswoman Sneh Seetal.

Trudeau's "a lack of interest and leadership" on Energy East could undermine confidence in national unity, said Wall. The project was created to facilitate massive, long-lived expansion of Canada's oil production at a time when science shows we must cut carbon pollution rapidly.

In the summer of 2016, the National Energy Board's review of Energy East was compromised after it was revealed by the National Observer that former Quebec Premier Jean Charest met the chairman and two commissioners on the National Energy Board while working for TransCanada.

"So that's two tar sands expanding mega-pipelines stopped in their tracks but it will be a hollow victory if Indigenous opposition and serve as an outlet for even more climate-killing tar sands production".

F1: Max Verstappen ends birthday on a high with Malaysian GP win
Horner believes Verstappen's ability to handle pressure was the most impressive part of his Malaysian Grand Prix victory. Ferrari teammate Kimi Raikkonen did not even start, despite qualifying second.

Lee becomes 5th major hurricane this season
Wave heights along the shore will increase during the next few days, creating unsafe surf and increased chances of rip currents. Lee briefly strengthened to a Category 3 storm on Wednesday, which made it the fifth major hurricane in the Atlantic this year.

Trump Reverses Course, Waives Jones Act for Puerto Rico
The Jones Act is a little-known federal law that prohibits foreign-flagged ships from shuttling goods between USA ports. But earlier this week, the administration insisted that it would not - and could not - do the same for Puerto Rico .

Supporters of Energy East said the pipeline was necessary to expand Alberta's markets and decrease its dependency on shipments to the United States.

Alberta Premier Rachel Notley also decried Energy East's demise, calling it "an unfortunate outcome for Canadians" and saying that it would have reduced the nation's imports of foreign oil.

Notley reiterated government support from the Alberta NDP for Energy East since the project was proposed and called on the National Energy Board (NEB) to "send a clear message on what the future of project reviews look like in Canada".

Energy East would have given oil producers in Alberta and Saskatchewan, who are heavily dependent on buyers in the USA, another market for their crude by carrying about 1.1 million barrels a day to refineries and a marine-shipping terminal in eastern Canada.

Jean singled out the mayor of Montreal, Denis Coderre, accusing politicians in the east of taking "pride and credit" when energy projects that would have benefited the country fall through.

Since Keystone XL was proposed, oil prices have plummeted.

New Brunswick Premier Brian Gallant said in a statement that the company's decision not to move forward is "not good news".

Last month the company revealed that it was suspending efforts to get regulatory approval.

Related news:

Hot News

isis-killer-beheading-video-story-top No evidence Las Vegas shooter tied to militant group
Oct 06, 2017 - 00:13
If true, Paddock would be the oldest American Isis recruit by almost a decade, and its members are typically young, non-white men. Attackers inspired by ISIS have previously sent videos pledging allegiance to leader Abu Bakr al-Baghdadi before their assaults.

isis-killer-beheading-video-story-top Trump Lashes Out at NBC News Over Rex Tillerson "Moron" Report
Oct 06, 2017 - 00:11
According to a report from NBC, Tillerson considered resigning this summer and referred to the president as a "moron". Tillerson also took pains to deny that he was ever close to resigning from his Cabinet post.

isis-killer-beheading-video-story-top WWE Hell in a Cell 2017 Preview & Predictions
Oct 06, 2017 - 00:10
Whatever the result , these two teams have been putting on some stellar matches of late and this one should be no different. This time they compete inside of the Cell and if The Usos win, The New Day will not be able to use their rematch clause.

isis-killer-beheading-video-story-top Las Vegas Shooting: What We Know About Marilou Danley
Oct 06, 2017 - 00:10
Police recovered almost 50 firearms from three locations they searched, almost half of them from the hotel suite. She was reportedly met by federal agents at the airport after traveling back from the Philippines.

isis-killer-beheading-video-story-top UPS, FedEx stocks fall after report of Amazon testing new delivery service
Oct 06, 2017 - 00:09
Amazon is likely FedEx and UPS' largest customer, due to the number of items that customers purchase from Amazon on a daily basis. There are many sellers on Amazon Central who use P.O. boxes for returns, and UPS does not deliver to P.O. boxes.

isis-killer-beheading-video-story-top Israel PM: No Palestinian unity at Israel's 'expense'
Oct 05, 2017 - 00:19
Officials on both sides said the more hard issues will be addressed at the upcoming talks in Cairo. In turn, Israeli strikes on Hamas target in Gaza are commonplace.

isis-killer-beheading-video-story-top Titans signing Brandon Weeden as Marcus Mariota recovers from injury
Oct 04, 2017 - 00:12
He later played in two seasons with the Dallas Cowboys while his last action came in 2015 while he was with the Houston Texans . The Titans needed to sign a backup quarterback with Mariota ailing, but this did not go as planned.

isis-killer-beheading-video-story-top Alabama Crimson Tide vs. Texas A&M Aggies
Oct 04, 2017 - 00:11
It was against Ole Miss a year ago when Jalen Hurts truly solidified his place as Alabama's unquestioned starting quarterback. The Crimson Tide defense will keep them bottled up here. "They played well in that game to get in the position they were in".

isis-killer-beheading-video-story-top Max Verstappen wins the 2017 Malaysian Grand Prix
Oct 04, 2017 - 00:10
He had been driving well all weekend and it is very unfortunate for him, ' he said. "You've seen a couple from Sebastian". Kimi Raikkonen , who was due to start second didn't even start the race, on account of turbo issues on his vehicle .

isis-killer-beheading-video-story-top After Serving 30 Years In Army, Veteran Told To Prove He's Indian
Oct 03, 2017 - 00:49
The Army's Eastern Command said "necessary help" will be provided to Hoque, after an Army officer tweeted his story to it. The police have registered a case against Hoque, alleging he had entered Assam illegally without any valid documents.

isis-killer-beheading-video-story-top Too soon to compare Harry Kane with Ronaldo, says Mauricio Pochettino
Oct 01, 2017 - 00:16
We need to try to give the best solution to try to keep that level and then to be regular and the possibility to play more". I never said he is better than Cristiano and Lionel Messi , who are at a different level.

FDA warns of possible drug shortages following Hurricane Maria in Puerto Rico
Oct 01, 2017 - 00:13
He went on to denigrate other leaders, as well as the Puerto Rican people who "want everything to be done for them". He then retweeted videos from the military and other emergency responders working in Puerto Rico .

isis-killer-beheading-video-story-top European Union frets over slow United Kingdom exit talks
Sep 30, 2017 - 00:39
More than 800 British troops have been in the Estonian town of Tapa since April, alongside Estonian and French forces. We need to acknowledge to each other they are out of shape...

South Korea expects in mid-October, the provocations from the DPRK
Sep 29, 2017 - 00:14
The U.S. has "four or five" ways to resolve the crisis with North Korea , according to National Security Adviser H.R. Beijing opposes THAAD because it believes its powerful radar could be used to look inside its territory.

isis-killer-beheading-video-story-top Duck and Cover: Bali Volcano Eruption Threat Spills Into Twitter
Sep 28, 2017 - 00:16
The Perth woman said her group found a note on the door of the hotel telling them a room was booked for them at a sister hotel. The volcano last erupted in 1963, an event that claimed 1,600 lives and saw volcanic ash reach as far as the capital Jakarta .