VANCOUVER, June 17, 2014 /CNW/ - The federal government's recent approval of the Northern Gateway Pipeline is the right decision for Canada and the right decision for BC, says former long-time Federal Minister Hon. Stockwell Day.
"Having spent a great deal of time working for Canada's prosperity both here and in our international markets overseas, I know this pipeline is vital to Canadian economic strength and prosperity," said Mr. Day.
"It's essential that we access markets beyond only our friends and neighbours to the South. The vast majority of our oil is exported to the US, and as that country moves toward energy self-sufficiency, we've been missing an enormous opportunity to obtain real value for this important product.
"Add to that the growth of Asia, and you can see why the approval of Northern Gateway is extremely positive for this country's future. With today's decision, we can begin to correct the imbalance that resulted from our being tied to a single customer, and I have no doubt that, over time, Canadians will feel the benefits," he said.
At an estimated capital cost of $6.5 billion, the Northern Gateway project will allow producers in Alberta to ship oil to BC port facilities for export offshore.
SOURCE: Hon. Stockwell Day
For further information: Hon. Stockwell Day: 604-787-4144 or at [email protected]