Ottawa’s approval of two western pipelines is a positive step for Canada according to a senior petroleum analyst.
Dan McTeague says the go-ahead will mean a boom in construction jobs, investment and more revenue for the federal government.
Most importantly, he says the move gives Canada the ability to sell its oil to markets beyond the United States especially Asia.
McTeague believes the approvals will also bode well for the proposed Energy East pipeline which will bring Alberta crude to the Irving Oil refinery in Saint John.
McTeague adds these pipelines are crucial for Canada to export its oil to markets beyond the United States and to get a better price for a commodity which is now heavily discounted.
He adds the establishment of Energy East and Keystone would put an extra $10 to $15 billion into the Canadian economy.
