Energy East pipeline ‘will happen,’ but taking too long:Arthur Irving
HALIFAX — The chairman of Irving Oil confidently predicted Thursday the proposed Energy East Pipeline still being examined by federal regulators “will happen,” though he thinks the process is taking too long.
Arthur Irving said Thursday that Alberta’s struggling economy urgently needs the pipeline to transport its crude oil, and his firm is eager to partner with TransCanada (TSC:TRP) to build a deepwater terminal in the Bay of Fundy.
“That will happen, but it’s taking a little longer than it should. But it will happen because it’s the right thing to do for Canada. They can’t get along without it. Alberta needs it and the East Coast needs it,” he said during a speech.
The Saint John, N.B.-based businessman, made his comments while announcing his company’s completion of its Halifax harbour terminal — and as the regulatory process for the pipeline emerges from controversy.