Low energy returns in new Alberta budget heighten market access concerns
Posted Mar 8, 2013 12:13 pm.
This article is more than 5 years old.
The sooner pipeline constraints are addressed the sooner the Redford goverment will be able to pay back the billions it plans to borrow to build new schools, hospitals and roads.
A big reason why Alberta is borrowing for tomorrow is because of depressed prices for oil and gas exports today.
Geoff Hill is a partner with National Oil and Gas Leader at Deloitte. He tells 660 News, market access issues are starting to create some nervousness in oil and gas boardrooms.
Hill says the longer those issues persist, the greater the chances some investment and development plans will be shelved.
In an exclusive interview with 660News, Alberta’s Energy Minister Ken Hughes says the province needs new pipelines built not only to the U.S. but to both the west and east coasts.
Hughes says while lobbying efforts to get those pipelines approved and built continue, the province is working with industry to boost exports via truck and train.
He says the market access issue is something all Canadians should be concerned about, because low energy returns are taking away millions of dollars a day from not only industry but from provincial and federal goverment coffers.
