By CHAT News Today

Province has $1.5B stake

Alberta work underway on Keystone XL

Jul 3, 2020 | 12:29 PM

Shovels are in the Alberta ground as work on the province’s portion of the Keystone XL pipeline is underway.

Premier Jason Kenney spoke near Oyen today where the work began.

“After many years of stringent environmental review, collaboration with landowners, local officials and Indigenous groups and a dogged determination to never say die, this project – essential to our economic recovery – is well underway,” he said in a statement. “Not only will Keystone XL create jobs when they are needed most, it will strengthen continental energy security and independence by ensuring that Canadian oil – developed under the world’s highest environmental, human rights, and labour standards – continues to be a dominant force in global supply.”

READ MORE: Presidential hopeful Biden could be swayed to supporting Keystone XL: Kenney

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The Alberta government says Keystone XL will safely and reliably deliver up to 830,000 barrels per day of western Canadian crude oil from Hardisty, Alta. to Steele City, Neb., where it will connect with existing facilities to reach U.S. Gulf Coast refiners to meet critical needs for transportation fuel and other life-enhancing products. The province’s $1.5 billion equity stake in Keystone XL will enhance and protect the value of our natural resources, to the benefit of all Albertans.

The project will see about 2,000 construction workers hired in Alberta over the next two years, spurring thousands of additional jobs and increased economic activity in associated trades, retail, and hospitality services along the construction route. According to the government, the project will contribute about $2.4 billion to Canada’s GDP and will generate more than $7 million in property taxes in the first year in service. It’s estimated the project will generate $30 billion in tax and royalty revenues for current and future generations of Albertans.

“Keystone XL is an important energy infrastructure project that is poised to put thousands of people to work, generate substantial economic benefits and strengthen North American energy security, said Richard Prior, president of Keystone XL. “We greatly appreciate Premier Kenney’s partnership in this important investment and we look forward to working with his government as we continue to invest in and strengthen Alberta’s economy. We also strongly value the ongoing collaboration and support from First Nations, building trades unions, landowners, and our contractors and suppliers over the last dozen years.”