Trans Mountain pipeline benefits to flow across Canada
Employment concentrated in BC; manufacturing jobs for Central Canada.
OTTAWA — The Trans Mountain Pipeline Expansion Project would generate revenues for federal and provincial governments of more than $18.5 billion between 2012 and 2037, and support more than108,300 person years of employment across the country, says a Conference Board of Canada report.
Seeking Tidewater: Understanding the Economic Impacts of the Trans Mountain Expansion Project says the project, which would triple the capacity of the existing pipeline that runs from Edmonton to Burnaby, BC, would also help get oil resources to markets beyond the US. And the result would be $14.7 billion or 80% of fiscal revenues generated by the project coming from the higher prices or “netbacks” that oil producers would receive.
The pipeline development would also unlock the oil from the stagnant North American market.
The report assesses construction of the pipeline and related infrastructure; pipeline operations; and the higher prices for oil producers once the pipeline is operational.
But it didn’t look at environmental impacts or assess alternative transportation options.
Most of the employment gains in construction (62% and 22%) and operations (60% and 21%) would be in BC and Alberta (respectively) but during the operational phase more than 15% of the employment would be generated in Central Canada, where many industry-related professional services firms and manufacturers are located.
The report was commissioned by Trans Mountain Pipeline Expansion Project and has been submitted to the National Energy Board as part of the application process.
Click here to access the report.