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After 15 months of conferences and research, the Ontario Energy Board (OEB) has stated that Energy East鈥檚 US$12 billion pipeline project has more environmental risks than possible benefits, with the addition of increasing natural gas prices in the market.

TransCanada Corp.

TransCanada鈥檚 proposed pipeline would transport crude oil from Alberta to the refineries in Quebec and New Brunswick. The company plans to convert two-thirds of the pipeline for it natural gas, in addition to the construction of a new line through Quebec and New Brunswick.

OEB comments

Vice-President Peter Fraser of OEB reported: 鈥淲hat we have found is there is an imbalance between the economic and environmental risks of the project and the expected benefits for Ontarians.鈥�

The benefits of the pipeline

However, the OEB stated that the pipeline could include an impact on gross domestic product by US$12 - 19 billion, in addition to approximately 114 000 full-time job positions.

The hearing

OEB鈥檚 report will be the foundation of Ontario's position for the pipeline project when the National Energy Board holds its hearings, expected in 2016.

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