EDMONTON — Alberta's Energy and Minerals Minister Brian Jean says businesses are lining up to invest in the proposed Pacific Link pipeline, adding that Alberta's latest attempt to secure a West Coast oil pipeline has an ingredient previous efforts lacked. "Oh, biggest thing in 40 years, in my opinion, maybe bigger," said Jean when speaking with the Western Standard on Thursday after the federal government decided to expedite Pacific Link's approval by declaring it a project of national interest. The announcement is the next step in Alberta and Ottawa's seemingly joint efforts to secure an oil pipeline from Alberta to the BC coast to ship oil to Asian markets. Pacific Link is expected to increase Canada's GDP by $20 billion annually once operational, and provide the Alberta government with an additional $268 billion in royalties over a 50-year span. "I can say this: it means 140,000 jobs, and billions of dollars, billions and billions of dollars, if not trillions, over the coming years, in all the things that Canadians want," Jean said. .Many have expressed excitement about the pipeline's progress and potential economic benefits. However, not everyone is on board because, aside from 10% backing from Pembina Pipeline Corporation, the vast majority of the project will be publicly funded for now. Individuals have pointed to the current lack of private proponents as a sign that the industry has limited support for the project, little desire to invest in a Canadian energy market coming off a decade of unstable regulations, or little interest in complying with Canadian environmental laws. However, the UCP and Ottawa insist times have changed, though. "You have a competitive advantage," Jean said. "You have both levels of government, and indigenous government, and local governments all working together, recognizing what we need to do." .Despite the optimism, Thursday's announcement did not come with more private companies publicly committing to Pacific Link, but Jean said they are coming. "Who do you mean buy into it?" Jean said. "The company from Singapore that called me this morning and said, 'Very excited. How can we get more involved in the pipeline? How can we buy into this pipeline? How can we invest in this pipeline?' That company? Or even Korea or Japan?" When the Western Standard asked when more private investment will come, Jean said, "Get ready." He acknowledged that private groups have been burned by previous governments, and may want to see proof, but Pacific Link has the "secret ingredient" needed to reach completion. "It's about the team this time, and obviously going together in the same direction," Jean said. "That matters. That's what's different. That is what is a lot different this time." "You have the federal government that is coming in with an ownership position, provincial government, private sector who's got confidence in it. Other private-sector proponents lining up, and that is the truth. There are a lot of people that are interested, but they want to see what we can do."
