East Canadian Oil Pipeline

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With BC and the USA dragging their feet to offers for a Alberta oil pipeline, the Conservatives have finally come to realize this is the best way to go.
 
The USA is now receiving Canadian Oil at a huge discount due to over supply. They simply do not want to pay world price for Canadian Oil . Ok but there will come a day when they will gladly pay any price for oil. BC does not think that it would pay long term dividends for piping Alberta Crude for China's use.
 
TransCanada unveiled plans on Tuesday to build a pipeline to ship oil from Canada's western tar sands to refineries in eastern regions reliant on higher-priced oil imports.
 
The 4,400-kilometer (2,734-mile) "Eastern Oil Pipeline" would be the first connecting producers in the west who are eager to tap into new markets with consumers in Canada's most-populated cities and industrial heartland in the east.
 
The conduit would be capable of transporting as many as 850,000 barrels of crude oil per day to refineries in Montreal and Quebec City as well as the Atlantic port city of Saint John, New Brunswick, TransCanada said.
Those refineries currently process about 600,000 barrels of imported oil per day to meet regional energy needs, paying global market rates for foreign supplies of crude oil.
 
"The Energy East Pipeline could eliminate Canada's reliance on higher priced crude oil currently being imported," TransCanada said in a statement. Maybe Eastern Canada will receive some lower price gas benefits. Don't count on it.

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