- As major oil sands pipeline options drop away, Kinder Morgan’s (KMI -0.4%) Trans Mountain pipeline expansion has become the last big hope to open a new market for western Canadian oil in this decade, Financial Post's Claudia Cattaneo writes.
- With Enbridge’s (ENB -1%) proposed Northern Gateway stuck trying to increase aboriginal support in British Columbia, TransCanada’s (TRP +1.1%) Keystone XL expected to be rejected soon by the U.S., the start date for TRP’s Energy East proposal pushed back to 2020 at the earliest and a marine terminal at Cacouna, Que., cancelled, only the $5.4B Trans Mountain expansion remains on track for completion in 2018.
- The project is far from a slam dunk, embroiled in controversy due to worries about a spill and increased oil tanker traffic, and has become a big flashpoint in the upcoming federal election; reflecting the tension, the National Energy Board's review is taking longer than the legislated 15-month time limit.
- "People worried about Canada’s supposedly tarnished environmental reputation should consider the huge damage done to Canada as an investment destination due to endless and unpredictable regulatory reviews," Cattaneo writes.