A new report released Thursday by the Ontario Energy Board finds the risks of TransCanada’s Energy East pipeline, destined to carry Alberta oilsands crude to eastern refineries and export facilities, outweigh the project’s benefits.
The board’s vice-president, Peter Fraser, said the report, prepared at the request of Ontario Minister of Energy Bob Chiarelli, finds “an imbalance between the economic and environmental risks of the project and the expect benefits for Ontarians.”
The Energy East pipeline, projected to transport 1.1 million barrels of oil per day, is the continent’s largest proposed pipeline, outsizing the company’s controversial Keystone XL pipeline, which (Read more…)