Trans Mountain Expansion Project is approved
June 20, 2019
Global Korean Post
The Government on June 18 decided to approve the Trans Mountain Expansion (TMX) project.
The Government reached the decision to approve the project after a deliberate and studied consideration, following a report and recommendations from the National Energy Board and the re-initiation of a process of consultations with potentially affected Indigenous groups.
The approval of the TMX project is an investment in workers in Alberta, British Columbia, and across the country. The expansion will create thousands of good middle class jobs, unlock new global markets to boost the price of Canadian oil, generate significant revenues each year to help fund clean energy solutions, and help advance reconciliation with Indigenous Peoples.
This builds on the Government’s efforts to help Canadian workers and businesses thrive in a changing world and new economy. For example, in December 2018 the Government announced $1.6 billion to support jobs and workers in Canada’s oil and gas sector. These measures will support workers and their families in Alberta and beyond—fostering competitiveness and improving the long-term performance of the industry.
“By proceeding with the Trans Mountain Expansion project, we’re putting Albertans—and all Canadians—in the best position to succeed. The revenues that will come from getting Canada’s resources to global markets will create jobs, grow the economy, and allow us to invest in new ways to reduce emissions and protect the environment.” said Bill Morneau, Minister of Finance
Every dollar the federal government earns from the project will be invested in Canada’s clean energy transition. The Department of Finance estimates that additional corporate tax revenues could be around $500 million per year once the project is online. These funds and any profits earned from the sale of the pipeline will be invested in the clean energy projects that power our homes, businesses and communities for years to come.