Benefits for Canadians
Northern Gateway is an important project for Canada because Canada is an oil exporting nation, and has been for 60 years. Northern Gateway would provide Canada access to growing Asian and Pacific Rim economies. It’s clearly in our national interest to have competition for our resources, in the same way that it is important for B.C.’s forest and mining industries to access markets outside North America.
- At $5.5 billion, the Northern Gateway Project is the largest private investment of capital in the history of British Columbia.
- The Northern Gateway Project will bring significant, lasting benefits to the economy including:
- $270 billion in GDP over 30 years
- $400 million in employment and contracts for Aboriginal communities and businesses;
- $4.3 billion of labour-related income across Canada during construction;
- $2.6 billion in local, provincial and federal government tax revenues; and
- 1,150 long-term jobs throughout the Canadian economy.
- Northern Gateway will draw upon over 60 years of Enbridge experience to ensure the Project is designed and built to world-class safety standards.
- The project has third-party financial support from both the supply side and the market side.
- Total local, provincial and federal government tax revenues during 30 years of operations will be approximately $2.6 billion; this includes about $36 million per year estimated to be paid by Northern Gateway as local property taxes
- About 1,150 long-term job opportunities throughout the Canadian economy, including 104 permanent operating positions created with Northern Gateway and 113 positions with the associated marine services
- About 62,700 person-years of employment will be created throughout the Canadian economy during the construction phase of the project, with 3,000 direct on-site workers required during the peak period of construction
- 2,000–3,000 workers will be directly employed during the peak periods of project construction
- Northern Gateway provides Canada access to fast-growing Asia and Pacific Rim economies. It’s clearly in our national interest to have competition for our resources
- Canada is one of the world’s few oil-producing countries that is able to increase production to meet increasing global demand, and at the same to time offer political stability, the rule of law, and a demonstrated commitment to improving environmental standards
- While not turning their backs on their traditional U.S. markets, Canadian producers will be able to access new west coast U.S. and growing Asian markets
- The Project will facilitate more investment in Canada
- The Project will provide western U.S. markets with access to a long term, stable supply of energy
- The Project will bring significant and lasting benefits to the economies and the people of northern B.C. and Alberta in an environmentally safe and sustainable way
- Northern Gateway will provide a net benefit to Canada by opening a secondary market for Canada’s oil export trade with emerging Asian markets, and strengthen the nation’s position as a global energy producer
Project Need & Public Interest
- Projections use the 2009 CAPP forecast as basis for supply
- Over 10 year period after project start up:
- Synthetic crude pricing would rise $2.04/bbl
- Athabasca Dilbit would increase $3.00/bbl
- Would result in annual producer revenues increasing by $2.39 billion in the first full year growing to $4.47 billion by 2025.
- When adjusted for Northern Gateway toll, increased transportation costs on the Enbridge mainline (due to volume decreases), as well as increased Canadian refinery feedstock costs the net benefit to the Canadian Oil and Gas industry would be $28 billion over the first 10 years
- Total benefits to all Canadians over a 30 year period (direct and indirect benefits, including capital program, operations and net back effects on producers):
- GDP would increase $270B
- Labor income - $48B
- Employment years – 558,000
- Federal, Provincial and Territorial Government revenues - $81B
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IN THE NEWS
B.C. residents support Northern Gateway pipeline: poll read more
Pipeline would bring jobs and tax revenues: column read more
