“We’re in the middle of the regulatory process, so I don’t want to presume anything. But we’re optimistic and committed to it,” the company’s new chief executive said over breakfast in Ottawa Wednesday.
Yet he remarked on more than one occasion, “it’s not just about Gateway,” as if he’s resigned to the idea Enbridge’s plan to build a pipeline to connect Canada’s supply of heavy crude to demand in Asia is doomed to failure, thanks to the opposition.
Enbridge’s strategy is to diversify Canada’s markets, so it is no longer a price taker — a captive supplier selling heavy crude to the U.S. market at a discount that costs the country $60-million a day.
The average discount in the first three quarters of this year was $27 a barrel, which was a major contributor to Canada’s increased deficit.
Enbridge looks east: N.B. pipeline now a Northern Gateway alternative | Full Comment | National Post