Another issue that has yet to be addressed is a proposed ban on oil tankers operating off British Columbia’s coastline that would effectively shut down the development of an oil export terminal at Kitimat and thus kill the proposed Enbridge (ENB-NYSE) Northern Gateway oil export pipeline. If the tanker ban is put in place, it will force the development of the Trans Mountain pipeline as the primary West Coast oil export pipeline. That would leave the Trudeau government to deal with TransCanada Corp.’s (TRP-NYSE) Energy East oil pipeline project to move Western Canadian oil to the East Coast where it could be exported to the U.S. East Coast or Europe. Despite being the “environmental” prime minister, Mr. Trudeau is recognizing that without more oil and gas export opportunities, his nation’s economy, which depends on a healthy energy economy, will suffer with many social and financial repercussions.

The Canadian federal government’s decision about Trans Mountain on December 19th will be an important milestone for the nation’s energy business. There are still numerous other policy decisions that must be addressed before Canada develops a full-scale oil and gas export expansion regime, but the first steps appear to have been taken last week.

Eoin Treacy's view

Here is a link to the full report.

Anyone who has ever been to Vancouver will understand how important pristine maritime conditions are when they sit down to taste some of the city’s delectable seafood. Whether it is salmon, sushi or Cantonese style seafood all are on par with what is on offer anywhere else in the world. However despite a deep interest in preserving the province’s wonderful maritime resources there are bigger questions that need to be addressed.

One of the primary reasons Canada’s small population can punch above its weight internationally is because of its natural resources exports; with oil and gas representing a big part of that. It is the nation’s vital interests to get the best price possible for its oil. With the USA now supplying much of its own market. and the concurrent growth of electric vehicles and batteries. Canada should be in a hurry to capture as much of the global oil market as it can but developing both western and eastern trade routes.

Tourmaline Oil Corp is representative of the Western Canadian oil & gas companies. The share has held a progression of higher reaction lows since early this year and bounced over the last week from the region of the trend mean.

TransCanada bounced emphatically from the region of the trend mean this week on increased speculation that the new US administration will be more amenable to the Keystone pipeline.