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Some optimism ahead for Alberta's oil industry

Last Updated Feb 6, 2020 at 8:32 am MDT

Workers survey around pipe to start of right-of-way construction for the Trans Mountain Expansion Project, in Acheson, Alta., Tuesday, Dec. 3, 2019. THE CANADIAN PRESS/Jason Franson

CALGARY (660 NEWS) – It could be a changing of the tides when it comes to getting Alberta oil to international markets.

Earlier this week, legal challenges to the Trans Mountain expansion project by four B.C. First Nations were rejected by the Federal Court of Appeal.

That decision has renewed hopes of a pipeline project moving east and providing optimism for the industry.

WATCH: Federal court dismisses latest challenges to Trans Mountain 

The Saskatchewan government is again pondering a pipeline to Churchill, Manitoba to move western crude.

Premier Scott Moe said the project is worth considering, though environmental groups are lashing out against it already.

Meanwhile, construction of the Trans Mountain pipeline expansion has resumed with pipes being laid in the Edmonton area.

However, much of the route still needs to be approved in B.C., especially in Metro Vancouver and the Fraser Valley where groups are promising to continue opposing the project.

RELATEDOpponents to ramp up opposition to Trans Mountain expansion in B.C. 

Several oil companies in Alberta have struggled in recent years, with Calgary-based Suncor saying it lost $2.3 billion in the final quarter of 2019.

In December, Husky Energy announced it was cutting capital spending by $500 million over the next two years. That announcement came just two months after the company laid off an undisclosed number of employees to align its workforce with its capital plan and strategy.

Another Calgary oil giant, Encana recently approved its plan to move to Denver and rebrand under the name Ovintiv.