Energy East, which would take 1.1 million barrels of crude from Canada's oil heartland of Alberta, would have fetched higher prices for Canadian producers, whose landlocked product trades at a discount to the West Texas Intermediate benchmark.
"We will continue to focus on our $24 billion near-term capital program which is expected to generate growth in earnings and cash flow to support an expected annual dividend growth rate at the upper end of an eight to 10 per cent range through 2020", Girling said.
Of the cancellation, Green Party leader Elizabeth May added: "Today's announcement from TransCanada to cancel plans for the Energy East pipeline will be celebrated by many Canadians - those who understand that transporting toxic diluted bitumen (dilbit) across pristine areas, and that exporting bitumen to offshore refineries, is a poor business model".
"We're disappointed. We supported the Energy East pipeline because it would have provided supply options and access to western Canadian crudes for our Montreal refinery and also would have provided access to new markets which is critical for Canadian producers".
March 1, 2016: National cohesion on Energy East drifts further out of reach after the Quebec government announced plans to seek an injunction against TransCanada. "So that's two tar sands expanding mega-pipelines stopped in their tracks but it will be a hollow victory if either Kinder Morgan, Line 3 or Keystone XL are allowed to steamroll over Indigenous opposition and serve as an outlet for even more climate-killing tar sands production".
"Given the potential benefits of this project for our nation, we believe the reasons for its demise should be carefully examined and discussed in an effort to protect and ensure a strong and secure Canadian economy in the future", he said.
Picard is a signatory to the Treaty Alliance Against Tar Sands Expansion, a coalition of 150 tribes in Canada and the United States fighting against any and all oilsands pipeline projects. The Calgary-based company refused to give further explanation.
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EPS said a tactical maneuver managed to get the truck to roll, and police arrested the suspect. Of the four pedestrians, two suffered head injuries including a skull fracture.
Reaction across the country has been mixed.
"It is a good thing that Mr. Coderre's hypocrisy needs no pipeline for conveyance, for it would need to be very large and could never get approved for construction", he said.
September 9, 2016: The National Energy Board sidelines all three Energy East reviewers following complaints that two of them met privately with a TransCanada consultant the year before and discussed the proposed oil pipeline.
"Again it shows how local governments can make a difference", Coderre explained.
That's because the business case to build the pipeline has always been looking less than clear, he noted.
Oil prices have roughly halved since 2014.
The company suspended its application on Sep. Fossil fuel investment is becoming less viable while renewable energy investment increases exponentially.