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June 2014

Pacific Future Energy Corporation Applauds Supreme Court of Canada in its Landmark decision in support of Tsilhqot’in National Government

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For Immediate Release

June 27, 2014 (Vancouver, BC) – Pacific Future Energy Corporation (Pacific Future Energy) congratulates the Tsilhqot’in National Government on their landmark legal victory at the Supreme Court of Canada, which reinforces that the Tsilhqot’in Nation has proven title to their traditional territories – the first time a declaration of Aboriginal title has ever been granted by a Canadian court.

The Supreme Court of Canada’s decision in the case of William vs. Canada clearly establishes the framework within which governments and industries need to work with First Nations. This framework is virtually identical to the approach Pacific Future Energy has already committed to using for our project. We encourage all British Columbians and Canadians, including government and industry, to respect and support Indigenous rights.

“This decision demonstrates what we’ve been saying all along – that there is only one way to work with Indigenous Nations and that is in full respect of their inherent rights and title” said Executive Chairman Samer Salameh. “We stand in full support of achieving a true partnership with Indigenous Nations, communities and families.”

The Pacific Future Energy corporate structure, upheld by our operational preparations and launch of our pre-feasibility study, through every step of the feasibility analysis, environmental assessments, construction and ongoing operations, Pacific Future Energy stands with First Nations.

“This decision provides a positive new direction.  Indigenous Peoples are the key to prosperity, health and sustainability in this country” said Jeffrey Copenace, Vice President Indigenous Partnership.  “There is no question that respecting inherent rights and achieving a true genuine partnership will lead to a brighter, healthier and more prosperous future for all of Canada.”

About Pacific Future Energy

Vancouver-based Pacific Future Energy is a company that has been developed to finance, design and construct the world’s greenest oil refinery in British Columbia, Canada. The management team consists of leaders from the venture capital, corporate and government sectors, who share the belief that while it’s in Canada’s national strategic interest to diversify its markets for oil, it should be done in a socially and environmentally responsible manner and while ensuring the protection of Canada’s west coast. For more information about the company www.pacificfutureenergy.com

To request and interview or more information, please contact:

Alexandra Pecoskie
Citizen Relations on Behalf of Pacific Future Energy
604-647-6256
alexandra.pecoskie@citizenrelations.com

British Columbians support a refinery, new poll says

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Greenest Refinery in the World Proposed for British Columbia North Coast

Vancouver (June 17, 2014) – Today’s federal government approval of the Northern Gateway Pipeline brings into focus the need to protect Canada’s West Coast from a raw bitumen spill by building a refinery.

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In a poll released today by Pacific Future Energy Corporation (Pacific Future Energy) over 2/3 of British Columbians expressing an opinion believe that “refining oil in Canada means more value is added and Canadians get more benefit in terms of price, jobs and tax revenues,” and that a refinery will allow “Canadians to take environmental responsibility for the full processing of oil from Canada’s oil sands.” Pacific Future Energy is a company that has been developed to build our future and protect our coast by financing, designing and constructing the world’s greenest oil refinery in British Columbia, Canada.

“We cannot risk the future of British Columbia’s cherished coast by shipping raw bitumen,” said Samer Salameh, Executive Chairman of Pacific Future Energy Corporation. “While we believe that it’s in Canada’s national strategic interest to gain access to international markets for Alberta’s oil, especially the fast growing Asian market, it shouldn’t be done at the sacrifice of BC’s coast or broader environment and must be done in full partnership with First Nations.”

“Our project is not dependent on Enbridge’s success,” Salameh added. “Over the coming years, we will work with partners who can effectively demonstrate to Canadians – and to First Nations — that they share our values.”

A majority of British Columbians expressing an opinion agree that a refinery should be built.

Other findings from the poll conducted by Rushbrooke Communications Inc:

– 66% of British Columbians surveyed agree: “Currently, Canada sells oil almost exclusively to the United States.  Building a refinery would allow us to open new markets and be less dependent on the United States.”

– 64% of British Columbians surveyed agree: “By locating a refinery in BC, British Columbians will share in the economic benefits of oil shipped through the province.”

– A significant percentage of British Columbians (21%) don’t know that refined products pose a much smaller risk to our coast than raw bitumen.   Pacific Future Energy believes that as more British Columbians become aware of this project, this number will decline.

About Pacific Future Energy

Vancouver-based Pacific Future Energy is a company that has been developed to finance, design and construct the world’s greenest oil refinery in British Columbia, Canada. The management team consists of leaders from the venture capital, corporate and government sectors, who share the belief that while it’s in Canada’s national strategic interest to diversify its markets for oil, it should be done in a socially and environmentally responsible manner and while ensuring the protection of Canada’s west coast. For more information about the company www.pacificfutureenergy.com

Methodology:

-this survey was conducted online between May 15-21, 2014 among residents of British Columbia aged 18+
– The final results were weighted to the latest census Canada statistics for age, gender and regions of British Columbia.
– The Marketing Research and Intelligence Association prohibits statements about margins of sampling error or population estimates with regard to most online panels.
– A random probability sample of n= 800 has a margin of error of +/- 3.46% (95% confidence).

To request and interview or more information, please contact:

Alexandra Pecoskie
Citizen Relations on Behalf of Pacific Future Energy
604-647-6256
alexandra.pecoskie@citizenrelations.com

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Is This $10 Billion Project the Key to Unlocking Canada’s Oil Riches?

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By Matt DiLallo – June 16, 2014

Although Canada has the world’s third-largest oil reserves, it’s having trouble getting that oil out. Not only are the oil sands expensive to extract, but getting the oil out of Alberta and to customers is proving to be an even more difficult venture.

Pipeline projects like TransCanada’s (TSX: TRP)(NYSE: TRP) Keystone XL project, Enbridge’s (TSX: ENB)(NYSE: ENB) Northern Gateway, and Kinder Morgan Energy Partners’ (NYSE: KMP) Trans Mountain are all facing opposition. However, that opposition could begin to fade away if a proposed $10 billion refinery is built in British Columbia.

Laundry list of concerns

Environmentalists have long been opposed to the development of the oil sands. The oil there has a larger carbon footprint than conventional oil, and its physical footprint is also rather large when it’s mined. Then, of course, diluted bitumen is tougher to clean up than traditional oil when spilled. It’s reasons like these that are fueling opposition to pipeline projects that will take the oil from Alberta to customers in the U.S. and Asia.

The projects from Enbridge and Kinder Morgan Energy Partners in particular have the added environmental issue that the oil would be shipped by boat through sensitive coastal waters before heading to Asia. The concern here is that an oil spill would have a devastating effect on the livelihood of those living along the coast, and it is one that the recently formed company Pacific Future Energy would like to address.

How it helps

The company is proposing to build a $10 billion oil sands refinery in British Columbia. It would be the world’s greenest refinery, as it would use advanced European refining technology. It would take the bitumen and turn it into gasoline, diesel, kerosene, and other products that would cause less harm to the environment if spilled. The company could then export these refined products to Asia instead of the oil, which would yield higher revenue than just shipping the oil.

This project is among a number of refinery projects that are on the drawing board for western Canada so it’s not a sure thing at this point. In addition, the $10 billion price tag is just for the first phase of development to build the initial capacity of 200,000 barrels per day. Each additional phase would cost another $6 billion for 200,000 barrels per day of capacity, with the plan to eventually process one million barrels per day. However, this project and others like it are being proposed with the hope that refining the oil first would ease some of the environmental concerns that many have with shipping bitumen overseas.

By reducing the opposition to pipeline projects it also would help to remove the lid on the price of oil in western Canada, which is forcing producers to ship it by rail. Because rail is a more expensive option, it’s slowing down the growth of oil sands production. In fact, these high costs recently put the brakes on one major oil sands mining project as the partners on that project just didn’t see enough takeaway capacity coming online to bring the price of oil up to the point where the project could earn a compelling return.

The only way Canada will be able to unlock the full value of its oil sands is to be able to more freely move that oil from Alberta to customers around the world. While rail is helping in the short term, it’s a much more expensive, and potentially riskier, method of transportation.

The bottom line is that refineries like the one proposed by Pacific Future Energy could very well be the key to unlocking Canada’s oil riches. These projects could help end the opposition to pipeline projects from Enbridge and Kinder Morgan that have been holding back the free flow of oil.

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Huffington Post – ‘World’s Greenest’ Refinery Pitched For B.C. Coast

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CP  |  By Lauren Krugel, The Canadian Press Posted: 06/10/2014 10:51 am EDT  |  Updated: 06/11/2014 1:59 am EDT

world's greenest refinery

CALGARY – A Vancouver company is pitching a $10-billion oilsands refinery on British Columbia’s north coast that aims to connect Alberta’s vast energy resources with Asian markets while avoiding some of the pitfalls others have encountered.

Pacific Future Energy Corp. says the refinery would be the “world’s greenest” and built in full partnership with B.C. First Nations, many of whom are vehemently opposed to proposals to ship crude to the West Coast for export.

Any day now, Ottawa is expected to decide on one of those proposals: Enbridge Inc.’s (TSX:ENB) controversial Northern Gateway pipeline. One of the biggest concerns with that project is the fact that huge tankers full of diluted oilsands bitumen, or dilbit, would have to navigate the rough waters of the Douglas Channel on their way out into the Pacific.

The Pacific Future proposal — along with others being floated by B.C. newspaper magnate David Black and by aboriginal businessman Calvin Helin — would mean refined products, rather than heavy oil, would be shipped on tankers to Asia, making a potential spill much less environmentally damaging.

“I think everybody knows that it’s in Canada’s strategic national interest to increase and diversify oil production into Asia,” Pacific Future executive chairman Samer Salameh said in an interview.

“But I think everybody in their heart knows that shipping this dilbit is not the answer.”

A dilbit spill from a supertanker off the B.C. coast would make the Exxon Valdez disaster look like a “joke,” he said.

“We think it’s horrible to be shipping bitumen out of B.C. waters. We think that’s not the right thing to do by the environment, it’s not the right thing to do by First Nations and it’s not the right thing to do by the B.C. people. This is a solution to everybody’s problem.”

The Pacific Future leadership team includes venture capitalists and former provincial and federal government advisers. Salameh has experience financing and building telecommunications infrastructure for Mexican conglomerate Groupo Salinas.

B.C. Premier Christy Clark says she’s recusing herself from the bitumen refinery discussions because her former husband, Mark Marissen, has been hired as Pacific Future’s executive vice-president of communications and research. Marrisen has consulted on major infrastructure projects and has worked as a political strategist.

Pacific Future aims to include First Nations in the process from the get-go. One of Salameh’s first hires for the management team was Jeffrey Copenace, who was deputy chief of staff to former Assembly of First Nations chief Shawn Atleo and has worked with the Ontario and federal government on aboriginal issues.

“We hope to have learned from others’ mistakes and we started this thing right,” said Salameh. “We absolutely are convinced we cannot do this project without the full participation of the First Nations.”

Pacific Future plans to build a “near zero net carbon” refinery that will reuse waste products and prevent harmful emissions from entering the atmosphere.

The company says the refinery will be built in 200,000-barrel-per-day modules, with the ability to expand to a total of one million barrels per day.

Within six months, it expects to pick a location for the plant. It’s weighing one site near Kitimat and two further north near Prince Rupert. Safety concerns are causing Pacific Future to lean toward the latter, as it’s a shorter journey out to the open Pacific from there.

The company hopes a pipeline from Alberta to the West Coast will be built by the time the refinery is built seven to nine years from now. But because the refinery can be expanded in increments, rail can be used to feed a smaller-scale facility in the beginning, Salameh said.

The Pacific Future plan is based on a similar premise to Black’s $32-billion Kitimat Clean Ltd. proposal, which would involve a refinery, oil pipeline, natural gas pipeline and tanker fleet. Kitimat Clean is asking Ottawa for a loan guarantee covering about a third of that amount.

Salameh said he’s not concerned about competing with Kitimat Clean.

“David is a wonderful person and has been talking about this for a while. We are acting,” he said.

In April, Helin, along with the Aquilini Investment Group, announced the Eagle Spirit Energy proposal, which would upgrade the oilsands crude into a lighter product in Alberta or northeastern B.C. before sending it by pipeline to the coast.

“I will absolutely tell you there’s no one as far ahead in the process as we are,” said Salameh.

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Canadian Business – A new player in B.C.’s energy industry promises “the greenest oil refinery ever built”

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Homegrown west-coast energy investors emerging as oilpatch heavyweights get bogged down

Michael McCullough 0

oil refinery

From the time Enbridge began talking publicly about Northern Gateway almost a decade ago, the oil pipeline project—which is expected to get federal cabinet approval any day now—got off on the wrong foot by the company’s lack of a presence in British Columbia. The Calgary-based company has since corrected that, setting up offices in B.C. and appointing B.C. native Janet Holder as the frontwoman for the project. But the disconnect between the proponent and the people on the ground remains.

The building liquefied natural gas boom faces some of the same problems. The proponents mostly might as well be from Mars. Canadian, let alone B.C.-based, companies had virtually no skin in the game until recently. For all that Premier Christy Clark has tried to kick-start the industry, we’re still hurry-up-and-waiting for foreign investors to make up their minds whether to put shovels in the ground.

It’s taken a while, but the homegrown investors are finally coming out of the woodwork as the oilpatch heavyweights get bogged down. It started small, with the Haisla Nation taking an equity position in the Douglas Channel LNG project. That was followed in 2012 by Victoria newspaper publisher David Black’s much more ambitious but somewhat speculative Kitimat Clean project, consisting of a $25-billion oil refinery in the northern town that would create jobs and taxes in B.C. while ensuring that the exports were of finished products rather than the diluted bitumen from the oilsands whose behavior in the case of a marine spill is virtually unknown.

READ: Six factors that could still stop the Northern Gateway pipeline

This year has seen a spate of homegrown proposals, including Eagle Spirit Energy, a partnership between First Nations and Vancouver’s Aquilini family which would build a crude oil (as opposed to bitumen) pipeline to Prince Rupert from Alberta, and Vancouver-based Steelhead LNG.

The latest addition to this list is Pacific Future Energy, which on Tuesday announced a $10-billion oil refinery to be built on B.C.’s north coast. “This will be the greenest refinery ever built,” says company chairman Samer Salameh, whose background is primarily in building telecommunications infrastructure in the U.S. and South America. With an ultimate feedstock capacity of one million barrels a day and “near net zero” emissions, the refinery would produce high-margin products such as kerosene and aviation fuel for the Asian market. Salameh says Pacific Future has a project office staffed up and a preliminary design from an Italian engineering firm, and has initiated discussions with the B.C. and federal governments, first nations and Asian customers.

Still, the project appears to be premised on a ban on shipping unprocessed bitumen off the B.C. coast, the basis of Northern Gateway’s business model. “Why would B.C. ever want to do that? It creates no value for B.C., no jobs for B.C., no income for B.C. and the whole risk is taken by everybody living in B.C. It doesn’t make sense to me,” Salameh says. “You cannot clean up dilbit (diluted bitumen). There is simply no technology to clean it up.”

He insists the refinery could still compete were there no such bitumen tanker ban in place, but that “we think there should be a ban on tanker traffic because it’s the right thing to do.”

As with all the B.C.-based projects, Pacific Future’s financial wherewithal and energy industry experience sounds a little thin. But these local proponents are at least talking in terms the residents of B.C.—who, whatever the federal government may decide, have certain legal rights and physical occupancy on their side—might actually accept. Perhaps the next step in the development of Canadian energy export capacity to the only market that is growing, in Asia, is for the proponents on either side of the Rockies to start talking together in the same language and pooling their resources. As Salameh puts it, “The advantage of coming in later than everybody else is to learn from their mistakes.”

Seeking Alpha – Vancouver firm pitches “world’s greenest” refinery for west Canada coast

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  • Privately-held Pacific Future Energy Corp. says it is in the early stages of planning a $10B oil refinery on Canada’s west coast that it claims would be “the world’s greenest refinery” and built in full partnership with British Columbia’s First Nations, many of whom are strongly opposed to proposals to ship crude to the west coast for export.
  • Canada’s government is poised to decide whether to approve Enbridge’s (ENB) Northern Gateway pipeline project, which would require huge tankers full of heavy oil to navigate the rough waters of the Douglas Channel on their way out into the Pacific.
  • The Pacific Future proposal would mean refined products, rather than heavy oil, would be shipped on tankers to Asia, making any potential spill much less environmentally damaging.

Daily Oil Bulletin – Vancouver Group Proposing To Build “Green Refinery” Near Prince Rupert

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Daily Oil Bulletin
Tue Jun 10 2014
 

With a looming June 17 deadline for a federal government decision on Enbridge Inc.’s proposed Northern Gateway pipeline, a Vancouver-based company is proposing to build and operate what it describes as “the world’s greenest refinery” on British Columbia’s North Coast.

Pacific Future Energy Corporation said today a pre-feasibility study is already underway for the proposed $10 billion project that would process Alberta bitumen into products such as diesel fuel and other distillate products for export, based on market supply and demand.

“While we believe it’s in Canada’s national strategic interest to gain access to international markets for Alberta’s oil, especially the fast growing Asian market, the company believes it shouldn’t be done at the sacrifice of B.C.’s coast or broader environment and must be done in full partnership with First Nations,” the company said in a news release.

“We believe this is an incredibly unique opportunity to build the greenest refinery in the world and there’s no better place than B.C.,” said Samer Salameh, executive chairman of Pacific Future Energy. “Our pre-feasibility study has begun, which will analyze the economic, social and environmental aspects of the refinery and help to determine the prospective site and [we] expect to launch our feasibility and regulatory process in the next nine-12 months,” he said.

“By shipping refined products, we will eliminate the threat of a heavy oil spill. By building a refinery, based on NZNC (near zero net carbon) emissions standards, we will reduce the emissions that contribute to global climate change.”

The proposed refinery is the second proposed for the B.C. North Coast.

B.C. newspaper publisher David Black has proposed to build a 550,000 bbl-per-day refinery at Kitimat. He has been seeking a federal loan guarantee for the $26 billion project that would be Canada’s largest refinery (DOB, Oct. 17, 2013).

The Pacific Future refinery is being designed to be built in modules of 200,000 bbls per day, which is the size of the initial phase. When all of the project modules are complete, the facility will process up to one million bbls per day of bitumen.

Pacific Future said it has identified three potential locations in the Prince Rupert area for the proposed refinery. The final decision on the site would be determined in collaboration with local First Nations. The first priority, it said, would be considering which site will best minimize the environmental effects of the development with market conditions of the site the second priority.

“From the very beginning, and every step of the way, our partnership with First Nations will ensure that we all benefit from traditional and ecological knowledge, while respecting their rights to full consultation and accommodation “” all with the goal of shared prosperity and health for future generations,” Jeffrey Copenace, vice-president, indigenous partnership, said in a news release. Copenace served as deputy chief of staff to Shawn A-in-Chut Atleo, former national chief, and was an advisor to a former Canadian prime minister (Paul Martin).

The company says on its website that it plans to use a combination of natural gas and renewable sources to reduce refinery emissions by 40 per cent. Capturing all remaining carbon would provide for a further 52 per cent reduction in emissions. To get to “zero emissions,” the remaining energy used to power the refinery should be from biogas from agricultural and other natural products, it says.

Pacific Future Energy says its refinery in B.C. will create thousands of long-term jobs and economic stability at home by expanding Canada’s oil market access. “All of Canada’s oil should not have to be shipped to a foreign country to refine into value-added products,” it says. “Canadians should be able to do at least some of this here, in Canada, to the highest standards in the world, while protecting our coast from a catastrophic spill.”

“The combination of our strong management team, economically sound and environmentally superior refinery and access to international markets has made this very appealing to investors in the initial stage,” added Salameh.

The management team includes members from the venture capital, corporate and government sectors.

Salameh manages the telecom practice and new business development at Grupo Salinas, a multibillion-dollar conglomerate operating in the Americas. Most recently, he led the deployment of one of the largest greenfield fibre optics infrastructure projects in the world for the company.

Chief executive officer is lawyer Robert Delamar, an experienced technology executive and early-stage start-up specialist who has co-founded and/or held executive management positions with technology ventures based or operating in Silicon Valley, New York, Washington, Mexico City, Beijing and Toyko. Most recently, he was a co-founder and senior executive at Totalmovie and UUX.

Jamie Carroll, a former executive director of the Liberal Party of Canada, is executive vice-president, government and regulatory affairs. He has provided strategic guidance to Shell Canada, Suncor Energy Inc., Imperial Oil Limited/Exxon Mobil Corporation, TransCanada Pipelines and the Aboriginal Pipeline Group.

 

 

 

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WSJ – Vancouver Firm Eyes British Columbia Refinery

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Pacific Future Energy Raised Initial Funding for Project, Which Is at Pre-Feasibility Stage

Vancouver-based Pacific Future Energy Corp. Tuesday said it is in the early stages of planning a multibillion-dollar oil refinery on Canada’s west coast.

The company, formed in January, said the proposed refinery would process heavy oil from landlocked Alberta at an as-yet-undetermined site on the British Columbia coast, and export refined products to overseas markets.

Pacific Future has raised the initial funding for the project, which is at the pre-feasibility stage, Executive Chairman Samer Salameh said in an interview, though he acknowledged the project is years away from approval and completion. The company estimates it will take between seven and nine years and 10 billion Canadian dollars ($9.17 billion) to reach the first stage of processing at the proposed refinery.

Mr. Salameh declined to specify the cost of the initial stage, but said “if you look it as a percentage of the whole project, it’s not significant.” Funding for the pre-feasibility stage is coming from Mr. Salameh, an executive with Mexico’s Grupo Salinas, and a group that includes private Canadian investors, he said.

The refinery would convert heavy oil, or bitumen, into gasoline, diesel, kerosene and other distillates. Pacific Future expects to build it in modules which would eventually process a total of 1 million barrels a day.

The plan comes as the Conservative government of Canadian Prime Minister Stephen Harper is poised to decide whether or not to approve Enbridge Inc. ENB -0.28% ‘s Northern Gateway pipeline project, which would carry Alberta oil to the Pacific. The Canadian government has said finding new export markets for Canada’s energy products is crucial to its economic future. Environmental and aboriginal groups, however, oppose Northern Gateway in part due to concerns about potential oil spills.

Global energy giants are also eyeing sites on Canada’s Pacific coast for liquefied natural gas plants that would serve energy-hungry Asian market.

The pre-feasibility stage for the Future Energy project is expected to take up to 15 months, and involves studying the economic, social and environmental aspects of the project and deciding on a location. Talks with aboriginal groups, or First Nations, in the area have just begun, Mr. Salameh said. Government reviews and construction would take several more years.

Mr. Salameh said an initial design for what the company calls “the world’s greenest refinery” is already in place, saying it incorporates technologies that help minimize emissions.

“While we believe it’s in Canada’s national strategic interest to gain access to international markets for Alberta’s oil, especially the fast growing Asia market, the company believes it shouldn’t be done at the sacrifice of B.C.’s coast or broader environment and must be done in full partnership with First Nations,” the company said in a statement.

Write to Judy McKinnon at judy.mckinnon@wsj.com

Financial Post – Vancouver company pitches $10B oil sands refinery on the B.C. coast it says would be ‘world’s greenest’

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CALGARY — A Vancouver company is pitching a $10-billion oil sands refinery on British Columbia’s north coast that aims to connect Alberta’s vast energy resources with Asian markets, while avoiding some of the pitfalls others have encountered.

Pacific Future Energy Corp. says the refinery would be the “world’s greenest” and built in full partnership with B.C. First Nations, many of whom are vehemently opposed to proposals to ship crude to the West Coast for export.

Any day now, Ottawa is expected to decide on one of those proposals: Enbridge Inc.’s controversial Northern Gateway pipeline. One of the biggest concerns with that project is the fact that huge tankers full of diluted oil sands bitumen, or dilbit, would have to navigate the rough waters of the Douglas Channel on their way out into the Pacific.

This is a solution to everybody’s problem
The Pacific Future proposal — and another one being floated by B.C. newspaper magnate David Black — would mean refined products, rather than heavy oil, would be shipped on tankers to Asia, making a potential spill much less environmentally damaging.

“I think everybody knows that it’s in Canada’s strategic national interest to increase and diversify oil production into Asia,” Pacific Future executive chairman Samer Salameh said in an interview.

“But I think everybody in their heart knows that shipping this dilbit is not the answer.”

A dilbit spill from a supertanker off the B.C. coast would make the Exxon Valdez disaster look like a “joke,” he said.

david-black
THE CANADIAN PRESS/Darryl DyckB.C. newspaper magnate David Black has also pitched a refinery to process oil sands crude.
“We think it’s horrible to be shipping bitumen out of B.C. waters. We think that’s not the right thing to do by the environment, it’s not the right thing to do by First Nations and it’s not the right thing to do by the B.C. people. This is a solution to everybody’s problem.”

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