CALGARY- There was a bombshell announcement this morning from Calgary-based TransCanada Corporation.
It's cancelling plans for both the Energy East pipeline and Eastern Mainline projects.
Energy East would have carried 1.1-million barrels of crude oil a day from Alberta to Saint John, New Brunswick.
In a statement, C-E-O Russ Girling cites the company's ``careful review of changed circumstances'' and says that TransCanada is thankful for the support it received from labour, business, industry, Irving Oil and various governments that passed resolutions in favour of the projects.
New Brunswick Premier Brian Gallant says the announcement is not good news for his province.
Gallant says Energy East, which would have would have created jobs in New Brunswick and helped the Canadian economy.
Meanwhile, Montreal Mayor Denis Coderre celebrated the Energy East announcement, suggesting in a series of tweets that citizen groups and local politicians from the Montreal-area played a key role in putting a stop to the project.
Coderre and numerous other elected officials had argued the environmental risks associated with it far outweighed the economic benefits.
"The abandonment of the Energy East project is a major victory for the municipal world," Coderre wrote.
Coderre also thanked local Indigenous groups for their leadership on the pipeline file.
(The Canadian Press)
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