Thursday, June 4, 2015

Stockwell Day outlines what a Pacific Future Energy refinery might deliver to BC and Alberta

Oil Terminals and refineries, with all the talk of LNG of late, the twin proposals for shipping Oil from the North Coast seems to have fallen off the radar a bit, however, a prominent former politician and member of the advisory board for one of the projects proposed for the North Coast has offered up some talking points to the Calgary Herald.

As part of what appears to be regular column in the Alberta newspaper, Stockwell Day reflected on the need to develop refinery resources in Canada to gain more benefits for the nation.

The Pacific Future project has been touting Prince Rupert as the most likely location for an oil refinery and shipment point, a proposed development which would see Alberta Bitumen refined here and then shipped to Asian markets.

In his review for the Calgary paper, Mr. Day, a Senior Advisor for Pacific Future Energy observed on the need for accommodation and partnership with First Nations, noting that the company would have to work with First Nations along each step of their proposed development, from concept to implementation.

He also acknowledged the concerns that British Columbians have when it comes to shipments from any coastal point, noting that the Pacific Energy approach of refining the product in Canada would reduce any potential hazards to the marine environment, by taking the prospect of shipping bitumen out of the picture.

Day also pointed to the economic benefits for First Nation and non First nation residents of communities, highlighting the volume of jobs that the project would create both in its construction and operational phases.

As for why the refinery and terminal should be built in British Columbia and not Alberta, Day observed that the project calls for super modules to be brought to Canada from Asia, shipped to tidewater for assembly. He also outlines how moving the project inland would increase the cost of the project significantly.

He closes up his overview by delivering what appears to be the position point for the project at the moment, that Pacific Future Energy's refinery will make money, provide jobs for generations and release Alberta's stranded oil, adding that the Pacific Future business plan does not depend on subsidies.

You can review his full overview from the Calgary Herald here.

Pacific Future Energy hasn't had much to offer on a timeline of progress of late for their proposed Oil Refinery project, their website providing little in the way of an update regarding where they are in the process of moving their proposed development ahead.

For more of our past items related to the Pacific Future Energy proposal see our archive page here.

Pacific Future Energy is not the only company looking to make the North Coast a shipment point for oil to Asian markets, Eagle Spirit Resources is also examining the prospect of a shipment terminal for the region, you can review some of the most recent items on that project here.

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