Proposed Oil Pipeline to Canada's West Coast 'Unfinanceable' for Now, Cenovus CEO Says (CVE:NYSE)

Why is the Cenovus CEO saying the West Coast pipeline is doomed?

Facebook (Cenovus)Cenovus Energy says it will be impossible for the private sector to finance the proposed pipeline from Alberta to British Columbia’s coast under Ottawa’s current regulatory framework.Cenovus CEO Jon McKenzie made the comments at the Global Energy Show in Calgary on Tuesday, adding that the Liberals’ industrial carbon pricing system leaves Canadian oil uncompetitive on the global market.“Neither the Pathways project nor the West…

Canada’s Regulations Make Proposed West-Coast Pipeline ‘Unfinanceable,’ Cenovus Chief Says

Alberta’s proposed million barrel-per-day pipeline to ​British Columbia’s coast cannot secure financing from the private sector because of Canada’s existing regulatory framework, says Cenovus Energy CEO Jon ​McKenzie. ‌ The country’s industrial carbon pricing system makes Canadian oil uncompetitive and hampers the production growth needed or the proposed pipeline, McKenzie said at the Global Energy Show in Calgary this week. Existing regulations…

Alberta Fact Check: Even Canada's largest oil companies say Ottawa's rules make a new pipeline impossible

Subhead:Industry leaders say federal regulations are hampering the construction of a new oil pipeline in Canada.#   For years, Albertans have been told that all Canada needs is political will and climate regulations to build another major oil pipeline to the Pacific. But according to the CEO of one of Canada's biggest energy companies, the problem runs much deeper. This week, Cenovus Energy CEO Jon McKenzie delivered a blunt assessment at Calgar…

Cenovus Rips Canada's Oil Pipeline Plan as 'Unfinanceable'

(Bloomberg) — The leader of one of Canada’s biggest oil companies blasted a government push for a massive carbon-capture project and carbon tax in exchange for an oil-sands pipeline, calling it uneconomical.

Cenovus CEO says proposed pipeline to Canada's west coast currently 'unfinanceable'

Proposed oil pipeline to Canada's west coast 'unfinanceable' for now, Cenovus CEO says (CVE:NYSE)

Cenovus Energy CEO Jon ​McKenzie said Alberta's proposed 1M bbl/day pipeline to ​Canada's ​Pacific coast cannot be ⁠financed by the ​private sector under ​the current regulatory regime.