Ottawa, November 6, 2015 — The Canadian Chamber of Commerce today expressed deep disappointment with the United States government’s rejection of the Keystone XL pipeline project.
Keystone XL would provide a safe and reliable way to ship Albertan bitumen to refineries in the U.S. Gulf Coast. The project would generate thousands of jobs in Canada and the U.S. during construction and operation.
“Canada’s energy relationship with the United States is larger than a single project. However, today’s announcement appears to have been driven more by politics than by facts, especially since so many US government reviews gave the project a green light. The decision will cost Canada some 2,200 potential direct jobs and thousands more in the supply chain,” said the Hon. Perrin Beatty, President and CEO of the Canadian Chamber of Commerce.
“President Obama’s announcement underlines the urgent need to obtain new international customers for our petroleum resources. The Canadian Chamber of Commerce has long advocated constructing the pipelines and supporting infrastructure needed to get our resources to world markets. Access to tidewater ports will diversify our sales instead of relying on a sole purchaser, the United States,” continued Mr. Beatty.
While the American market will remain the most important destination for our energy exports, having only one major customer means that Canadian oil and gas are sold at a discount that we estimate to cost the Canadian economy about $18 million CAD each day.
“The new federal government must make access to international markets for Canadian energy products a priority. Just as the U.S. would not allow itself to have only one supplier for its energy needs, we must no longer be content having only one customer,” concluded Mr. Beatty.
The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade, representing 200,000 businesses of all sizes in all sectors of the economy and in all regions. News and information are available at Chamber.ca or follow us on Twitter @CdnChamberofCom.
G. Will Dubreuil
Director, Public Affairs and Media Relations
Canadian Chamber of Commerce