TD says west coast pipeline could lift GDP, but less than government estimates

A new TD Economics report says a proposed oil pipeline to Canada’s West Coast would increase both Alberta’s and the national economy, though likely not as much as government projections suggest. The report, released Monday, says official estimates may be optimistic because they come from governments and proponents with a direct interest in advancing the project. TD economists put the possible lift at about 0.3% for Canada and 2% for Alberta, compared with government forecasts of 0.6% nationally and 3.5% provincially. The proposed millionbarrelperday pipeline was filed by Alberta earlier this month with the federal major projects office. The plan calls for a route to a port south of Vancouver, largely following the existing Trans Mountain corridor, and would be developed, built and operated by Crownowned Trans Mountain Corp. TD said the project could still be a meaningful economic contributor by improving market access and export diversification, while noting risks such as slower oil demand growth in Asia and competition from other crude suppliers.