Canada Approves Oil Pipeline Expansion

The video discusses the approval of two pipeline projects in Canada by Prime Minister Justin Trudeau, highlighting the economic need to increase pipeline capacity due to expected crude growth. The Kinder Morgan Trans Mountain and Enbridge Line 3 projects are detailed, with their economic implications and costs. The video also covers the impact of the OPEC agreement on oil prices and market reactions. Opposition from environmentalists and First Nations groups is noted, with potential legal challenges similar to the Northern Gateway project. The situation remains unresolved with ongoing protests and legal considerations.

What was one of the main reasons for approving the pipeline projects according to Prime Minister Justin Trudeau?

• To reduce the cost of oil production

• To decrease the price of West Texas Intermediate

• To address pipeline capacity issues and prevent stranded oil

• To increase the number of oil tankers in Vancouver

What is the expected cost of the Kinder Morgan Trans Mountain pipeline project?

• $5 billion

• $6 billion

• $8 billion

• $7 billion

Which company is responsible for the Line 3 project?

• Chevron

• Kinder Morgan

• Enbridge

• TransCanada

What is a major concern of the opposition groups regarding the pipeline projects?

• Lack of government funding

• Increase in oil prices

• Environmental impact and legal challenges

• Decrease in oil production

What was a significant outcome of the Northern Gateway pipeline proposal?

• It was approved without conditions

• It faced no opposition

• It was eventually canceled due to legal challenges

• It was completed successfully