Trans Mountain Pipeline Expansion

||Trans Mountain Pipeline Expansion
Trans Mountain Pipeline Expansion

TMX Approved

The Building Trades of Alberta Locals will be working with our contractors to bid on available TMX opportunities as well as on new TMX opportunities as they arise. We also anticipate work in other areas. Our Locals have the skilled workforce these projects will require. We will be working with our contractors to secure jobs for our members wherever possible.

Terry Parker, BTA Executive Director

Read BTA Welcomes TMX Announcement.

About Trans Mountain Pipeline Expansion

The Building Trades of Alberta and our affiliate Locals understand the value of getting product to market in the most cost-effective, safest way possible. We support the construction of  Trans Mountain Pipeline Expansion.

The Trans Mountain Pipeline Expansion represents the least costly, most reliable, most secure way of transporting oil and gas to tidewater and new markets. It has already gone through an extensive environmental review and is currently going through further review that will result in still more protections. It has widespread support among Indigenous groups along the pipeline’s path. It is good for jobs. It is good for the economy. It is good for Alberta and Canada.

Alberta faces a problem of shut-in oil. In simple terms, we produce more oil than we can get to market.
That costs Alberta and the Canadian economy billions of dollars each year.
Trans Canada Pipeline Expansion will provide a major boost to the Alberta and Canadian economies.
That means investment, jobs, and tax revenue.
The direct benefits of Trans Mountain Pipeline Expansion seem self-evident, but there are more reasons to support its construction.
The United States is the only major market for Alberta crude. That leaves us vulnerable to price differentials between between Western Canadian Select (WCS) and West Texas Intermediate (WTI).

The price differential increased from $15 to more than $50 per barrel in late 2018. That was good for American refineries and the 3 big majors in Alberta (Suncor, Husky Energy and Imperial Oil) but not for the other players and not for jobs or government revenues.

As a result, the Alberta government imposed a temporary mandatory crude production cut of 8.7%. The cut took effect on 1 January 2019 and the differential soon shrank to less than $10 per barrel.

Alberta’s reliance on the United States as the only major market for Alberta crude also leaves us vulnerable to regulatory and political uncertainties south of the border.  Think of the Keystone pipeline and Enbridge’s Line 3 pipeline.
Meanwhile, widespread fracking in the US means a declining market for foreign oil including Canadian crude.
Climate change concerns are also prompting a global shift away from heavy crude.

Large institutional investors like pension funds are putting stringent Environmental, Social and Governance, or ESG, principles into their investing criteria… Many big funds won’t put money into companies unless they demonstrate mitigation of carbon emissions below a threshold.

There’s more than lack of pipelines and Bill C-69 that ails the oilpatch. Let me count the ways

We need to act now to expand pipeline capacity. And we have the public support to do it. Trans Canada Pipeline Expansion enjoys widespread public support right across Canada.
TMX is not a cure-all for Alberta’s economy but it is a significant step in  the right direction.

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