Ontario would see few benefits if TransCanada won approval to build its proposed Energy East pipeline, writes noted economist Jeff Rubin. Ontario’s natural gas supply would be cut by about 25%, and replacement supply from TransCanada would lead to a 52.3% rate increase for some customers. Increased tar sands/oil sands production would more than offset carbon pollution reductions in Ontario’s electricity sector, and Rubin says a resurgent oil and gas sector would add to the 300,000 manufacturing jobs Ontario has already lost in Canada’s attempt to position itself as an energy superpower. “If new pipelines help to boost Canada’s already overpriced petrodollar, [Ontario Premier Kathleen Wynne] won’t be able to help Ontario avoid more job losses in the manufacturing sector,” Rubin writes. (h/t to Martin Adelaar for pointing us to this story)
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