Business Review Board / June 8, 2016

Shocker: TransCanada Taking Oil Business Elsewhere

Good thing nobody saw that coming…

Boy, who saw this coming? Nearly everyone except the blind curmudgeons in the Obama White House, that’s who. TransCanada’s proposed oil-transport venture Energy East — which came about thanks to the Obama administration’s rejecting the Keystone XL pipeline — is nearer to getting the green light. This week, an environmental impact study was filed with the Canadian government, bringing the project closer to finalization.

According to the Calgary Herald, “Energy East would bring 1.1 million barrels of oil a day 4,600 kilometres from Alberta and Saskatchewan through Quebec and into New Brunswick for overseas shipping [emphasis added].” During the contentious debate on Keystone XL, Republicans argued vehemently that Canada wouldn’t just let its vast oil deposits go to waste. One way or another, that oil would be transported. Looks like they were right. Again.

If you’re wondering why May’s jobs numbers were so abysmal and why the economy can’t seem to get going, it’s because the current administration keeps stifling opportunities to kickstart the market. It’s agenda, after all, is what matters.

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