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 District 5Cautious optimism in relation to oil and gas pipelines (March 2008) By Mike Spiruda, Member Representative There was more work in the Northeast this winter compared to last summer because of increased drilling activity. When the Alberta government increased its provincial royalties on oil and gas extracted from the ground, producers began to see B.C. as offering a slight advantage. By the end of 2007, the B.C. provincial government coffers had swelled to more than $1 billion with the sale of the rights to drill for oil and gas. As a result, we should see continued growth at a stable rate in that sector over the next few years. In early January, Trans Canada Corporation had the only successful bid submitted to the State of Alaska under the Alaska Gasline Inducement Act. The company proposes to build the Canadian portion of a $26 billion natural gas pipeline from the North Slope to Trans Canada’s Alberta hub following its Yukon/Northern B.C. right-of-way. While State Governor Sarah Palin announced that Trans Canada’s application is the only one officially being considered, it must undergo a two-month public consultation period. At the end of that process, the state will decide whether to submit the application to the legislature for approval. There has been a lot of talk since the 1970s regarding a pipeline to connect Alaska’s stranded gas reserves to the lower 48 states. Hopefully, given the ever increasing energy demand on the North American continent and with the necessary government support, a project of this magnitude will finally come to fruition. Work safely, work union. |
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