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Gold/Mining/Energy : Canadian Oil & Gas Companies

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From: axial	3/23/2012 4:50:02 AM
	1 Recommendation Read Replies (2) of 24928

TransCanada looks east as Gateway pipeline gets bogged down [Despite some issues, I really like this idea. It's about time] 'TransCanada Corp. (TRP-T43.560.761.78%) is proposing a major shift in the way oil moves across Canada, urging the oil patch to consider a massive $5.6-billion new pipeline system that would carry large volumes of western crude to refineries in Ontario, Quebec and beyond. The East Coast Pipeline Project, as TransCanada has dubbed it in presentations to energy companies, could do more than supply the east with fuels made from oil sands crude. It could serve as an alternative to Northern Gateway, the controversial West Coast export pipeline project from TransCanada competitor Enbridge Inc. that has faced a wall of opposition from first nations and environmental groups. The TransCanada proposal would send 625,000 barrels a day across the country to Montreal, Quebec City and potentially Saint John, N.B., where Irving Oil Ltd. runs a large refinery. Tanker exports could then also take the crude to Europe or Asia. theglobeandmail.com Jim

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