Alberta Premier Danielle Smith said that cancelled pipeline projects have cost Canada $55 billion annually in lost economic output, using specific dollar figures to argue for renewed energy infrastructure development.
“If we had built Northern Gateway, if we built Keystone and we built Energy east, we’d have 2.5 million barrels more per day of production, which is $55 billion a year worth of GDP value, which is worth $17 billion to my government alone and about an equal amount to the federal government. This is not just an ideological argument,” Smith told reporters on Monday.
“It’s not just a minor disagreement,” she added.
She described oil as “by far the most valuable export for Canada” and claimed pipeline projects would provide greater economic benefits than other proposed infrastructure.
“There’s $9 trillion worth of value in discoverable and achievable reserves right now,” Smith said. “And so why would you leave that in the ground?”
The comments come as Prime Minister Mark Carney has signaled potential federal support for fast-tracking major energy projects through streamlined approval processes.
Northern Gateway was cancelled in 2016, while the Keystone XL pipeline was terminated in 2021. Energy East was abandoned by its developer in 2017.
Smith has consistently advocated for pipeline development since taking office, framing energy infrastructure as essential to Canada’s economic competitiveness.
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One Response
Perhaps Premier Smith, it is long past time to diversify your economy? This fact has been written on the wall for 2 decades at least. Your burgeoning clean energy industry has been stifled for no good reason. Meanwhile, it is a myth that Ottawa has stifled the production of oil and gas in the province. Production has consistently been on the rise, as have profits.
Royalties have never been better. Ms. Smith’s narratives about abuse my the Feds do not align with profits. And hey, check out coal. A real money maker. Sorry environment.
https://www.alberta.ca/historical-royalty-revenue-data