Financial centre of oilpatch hails approval of Trans Mountain expansion, Line 3
CALGARY — The financial centre of the oilpatch applauded Ottawa’s approval of two massive pipeline developments, saying the decisions send a message that Canada is open to investment at a time when the economy sorely needs it.
“Canada’s reputation as a place that can move projects forward took a step forward today,” said Tim McMillan, head of the Canadian Association of Petroleum Producers at a press conference.
“We have seen today that our governments support energy projects that meet the high standards here in Canada, and that positions us well for the future.”
For months, the energy sector had waited with bated breath for federal pronouncement on three projects: Kinder Morgan’s Trans Mountain expansion and Enbridge’s Northern Gateway and Line 3.