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CALGARY — Cancelling the multi-billion dollar Keystone XL pipeline expansion would not only jeopardize thousands of jobs in Alberta, it would also mean the loss of billions of dollars in corporate income taxes, carbon taxes and royalties, according t CALGARY — Cancelling the multi-billion dollar Keystone XL pipeline expansion would not only jeopardize thousands of jobs in Alberta, it would also mean the loss of billions of dollars in corporate income taxes, carbon taxes and royalties, according to energy experts. TC Energy Corp.’s 1,947-kilometre project would carry crude oil from Hardisty, Alta., to Steele City, Neb. From there it would connect with the company’s existing facilities to reach the U.S. Gulf Coast – one of the world’s biggest oil refining hubs. Scrapping the pipeline expansion could threaten the security of supply for those refineries, said Richard Masson, an executive fellow and energy expert at the University of Calgary’s School of Public Policy. Without a pipeline to move bottlenecked bitumen from Canada to U.S. coastal refineries, they’ll be forced to import from countries like Saudi Arabia, Iraq and Russia, he said. "Connecting by pipeline within North America is the most secure way to feed those refineries," Masson said, noting that […]
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