Enbridge’s Northern Gateway Pipeline has been Approved by the National Energy Board
As sophisticated real estate investors know, taking a peek behind the headlines is the way to think critically and find the right information to fuel your decision-making process. Heres a Vancouver Sun headline that you may consider taking for face value:
The National Energy Board has approved Enbridge’s Northern Gateway oilsands pipeline subject to 209 conditions.
The news comes on the heels of months of protests and years of debate between local, provincial and federal governments, environmentalists, economists and the public.
Some key information from the Vancouver Sun article:
The pipeline would be just the first to put billions of dollars into the coffers of Alberta, Ottawa and other provincial governments, not to mention the bank accounts of the proponent, Calgary-based Enbridge (TSX:ENB), and the international companies with a stake in the project.
Northern Gateway and other pipeline projects the Keystone XL to the U.S. Gulf Coast, the reversal of Enbridges Line 9 through Ontario and Quebec, and Kinder Morgan’s proposed expansion of its Trans Mountain line to Metro Vancouver mean production in the Alberta oil sands could as much as triple by 2035 and the greenhouse gases it emits along with it.
Everyone – including real estate investors and professionals – in Alberta, British Columbia and across the country will be paying close attention to the outcome of this announcement and what it will mean for local and national economies.
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