By Shawn McCarthy
Globe and Mail
TORONTO -- TransCanada is promoting its Energy East pipeline
project to Canadians with a promise
that it will create thousands of jobs across the country and
pour billions of dollars into government coffers.
Earlier this week, the company released a Deloitte &
Touche study on the economic impact of the $12-billion
pipeline, which would bring about 1.1 million bpd of
Western Canadian crude to refineries and export terminals in
Quebec and New Brunswick.
As part of its effort to woo those in the pipeline's path, the
TransCanada board met Tuesday in Fredericton -- the day after
an evening session with New Brunswick Premier David Alward.
TransCanada CEO Russ Girling said the economic benefits
will accrue right across the country, though the maximum job
impact will occur during the three-year construction phase from 2016 to
2018, when it hits 7,729 full-time-equivalent positions each
"The project will help support thousands
of jobs and millions of dollars in government tax revenues over
the short- and long-term life of the project," Mr. Girling said
on a conference call.
"This project makes sense for all Canadians, and this new
study helps us understand why that is the case," Mr. Girling
The company has been widely accused by critics of inflating
job-creation forecasts on its other major pipeline project, the
Keystone XL line in the US, which would ship crude from Alberta
's oil sands to refineries on the US Gulf Coast but is being
held up by environmental concerns. US President
Barack Obama dismissed the expected jobs impact of the Keystone
XL project as inconsequential.
Dow Jones Newswires