Why is so much oxygen being spent talking about Alberta’s push for new oil pipelines?

Well, there are more than 31 billion reasons to consider.

A new joint study by Studio.Energy and ATB Economics concludes that bolstering oil pipeline capacity in Canada could generate a massive bump in investment, increase exports and create more jobs.

By adding 1.5 million barrels per day of additional pipeline capacity out of Western Canada, the country would see annual real gross domestic product (GDP) higher by an estimated $31.4 billion, or 1.1 per cent on average, between 2027 and 2035.

When it comes to employment, the report indicates more pipelines, the proposed Pathways carbon capture network — a federal prerequisite for building a new oil artery to the Pacific Coast — and increased industry investment to fill the lines would support 112,000 additional jobs, on average, in Canada during the same time frame.

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For a country that has been challenged by tepid productivity levels and is striving to diversify exports beyond the United States, these projects could provide a much-needed tonic.

“There’s a big prize here, in terms of boosting investment and creating long-term economic prosperity,” said energy economist Peter Tertzakian, founder of Studio.Energy.

“I can’t think of anything else that would give such a large jolt to the Canadian economy over a 10-year period,” added ATB chief economist Mark Parsons.

The report looks at the economic implications of the Alberta government’s proposal to build a new bitumen pipeline that could ship one million barrels per day (bpd) to the........

© Calgary Herald