TransCanada’s Energy East announcement will only cement the conviction that one Trudeau is the same as another Trudeau
TransCanada’s decision to abandon its Energy East pipeline proposal sends two negative messages, both brimming with potential for damage.
One is to the international community, signalling that — whatever Ottawa may claim — Canada is not a welcoming place for energy investment. The most ludicrous assertion offered in the wake of TransCanada’s announcement was Natural Resources Minister Jim Carr’s claim that it was solely a “business decision” that had nothing to do with the government.
Yes, the decision was made on a business basis, but in the face of a regulatory and approval process put in place by a government more devoted to favoured voting groups than to the development and expansion of one of Canada’s most crucial economic interests.
The government of Prime Minister Justin Trudeau is more concerned about Quebec, environmentalists and Indigenous communities than it is about the potential fallout of lost investment and a moribund energy industry. It’s betting that the disfavour that comes from erecting a wall against investment and job growth will be less than would have resulted from helping the project succeed.
TransCanada’s conclusion means that one of the country’s most experienced and capable companies, one with a long record of success and international activities, no longer thinks it can pass the hurdles put in place by Liberal legislators. What’s the rest of the world to think?