About The Report:
TransCanada has been misleading Canadians and investors by repeating false information in a desperate attempt to justify its Energy East pipeline and tanker proposal.
TransCanada’s inaccurate claim: Eastern Canadian refineries import 86 per cent of their daily needs, from more expensive overseas sources including Saudi Arabia, Nigeria, Venezuela and Algeria.
The truth: Information from Statistics Canada shows that only 14.1 per cent of imports to Eastern Canadian refineries come from the four countries the company constantly lists. According to the National Energy Board, which looked at all import sources, refineries in Eastern Canada and Ontario together imported only about 39 per cent of the crude oil supply from other countries, including the U.S.
As this information backgrounder shows, Energy East will not significantly reduce overseas oil imports despite TransCanada’s claims. But the megapipeline will put hundreds of communities at risk of tar sands oil spills.
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