No guarantee Trans Mountain pipeline will relieve B.C. gas prices GlobeBC
The Muse report estimates that the Trans Mountain pipeline project will be good for Alberta’s oil producers, but not so much for B.C. consumers.Alberta Premier Jason Kenney is appealing to British Columbians to put pressure on their provincial government to step out of the way of the Trans Mountain pipeline expansion, linking the spike in gas prices experienced this spring in parts of B.C. to the conflict over oil shipments.
Will it actually reduce prices, though? The 2015 economic analysis produced by the energy consulting firm Muse, Stancil & Co. to support TMX makes clear that the expansion is for crude oil, not the refined fuel that B.C. needs. Parkland, the Lower Mainland’s only refinery, is already running full-tilt and cannot come close to meeting domestic demand.
“The startup of [the Trans Mountain expansion project] will act to increase the price of crude oil at Edmonton because roughly 79,500 [cubic metres a day] of crude oil is diverted from the existing North American markets to Northeast Asia.”, predicts that completing TMX would provide some relief in the B.C. market, because it would allow for more supply.
“It’s not that simple. Trans Mountain is part of the issue, but expanding Trans Mountain is going to take some time to have an effect on the market," he said, “and there is no guarantee it actually increases the amount of space on the line for refined product.” Not only that, but data provided by the National Energy Board show that there was less domestic product in the pipeline in 2018 than in any of the past 12 years.Mr. Horgan is asking Mr. Trudeau to intervene: “I’m hopeful that the federal government, if they see this as a project in the national interest, will also see a national interest in making rational pricing in the Lower Mainland when it comes to retail gasoline” the B.C. Premier told reporters.
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