Trans Mountain will boost Alberta economy: economists

CALGARY (660 NEWS) – Alberta’s energy sector is among those waiting anxiously for the Trans Mountain pipeline decision Tuesday.

Federal cabinet ministers are expected to give the green light to the expansion project.

READ MORE: Deadline for Trans Mountain decision is today

If approved, the extra pipeline will nearly triple the capacity for shipping oil to 890,000 barrels a day.

Economist Robert Mansell with the University of Calgary says the pipeline will have a substantial impact on the economy.

“About $9 billion extra per year in investment and GDP and $2 billion more in labour income and $3 billion more in federal and provincial government revenue. The economic impact is quite substantial, it could mean a 2 per cent increase in Alberta’s economy.”

Mansell says there’s also a huge social benefit to approving and building Trans Mountain because there’s an opportunity for First Nations ownership and participation.

“There’s potential for reconciliation with Indigenous groups, their ability to participate. Hard to put a number on that but I think it’s very, very important.”

At least two indigenous coalitions that have expressed interest in purchasing all or part of the pipeline and have met with finance minister Bill Morneau.

READ MORE: First Nations group to reveal plan to own 51% of Trans Mountain

It’s not only these Indigenous groups and the fossil fuel industry hoping for Trans Mountain’s approval.

Dan Balaban with Greengate Power, who specializes in wind power, says energy investors could use some positive signals right about now.

“It’ll be a great signal to the world that Canada is back in business that the oil and gas sector in Alberta has the opportunity to continue growing and continue thriving. I think it’ll be great for the overall mood of the province.”

Meanwhile, a new poll is suggesting perceived opposition in British Columbia to Trans Mountain may be overblown.

READ MORE: Majority of British Columbians support Trans Mountain expansion: poll

60% of British Columbians say they support the #TransMountain #pipeline expansion project. @Resource_Works @KyleBraid #bcpoli #tmx #abpoli #BC https://t.co/luzCL0jrSY

— Ipsos Canada (@IpsosCanada) June 17, 2019

According to numbers from Ipsos Reid, 60 per cent of those polled say they approve of the project, with 59 per cent in Metro Vancouver giving the project the thumbs up.