Mayor Craig Copeland is feeling optimistic about the oil and gas sector improving in the region.
He said on The Morning After that positive developments on the Keystone Pipeline, Trans Mountain Expansion, and Line 3 Enbridge could turn into a positive outlook for work in the Lakeland.
“I think what’s happening is over the last few weeks and months is you’re starting to see some little pieces and nuggets that I think are developing,” he said.
“A lot of people don’t realize Keystone is a significant pipeline for our area. We know that there’s people starting to work on the Trans Mountain pipeline….if we can get all three pipes up and running, able to take product by 2022 – once the oil companies see that there’s going to be some openings for their product – I think our area is going to start to see some real growth in the oil patch.
“I’m optimistic that we could be reaching a bottom right now. And I don’t feel housing prices can go any lower. I think optimistically that we’re going to see a rebound. I’m hoping by 2022, I think you’re going to start to see this place again get very busy.”
He said there could a ramp up by that time as oil companies watch the progress of these pipelines.
“We see that the rail exports are huge right now. The amount of oil is shipped by rail, that will pivot and a lot will go into pipe afterwards. But oil companies are watching all the development and so they don’t want to get too ahead of development,” said Copeland.
“But if it’s very optimistic, it won’t take long for the companies to start really investing and expanding with what they’re currently operating. Thinking about guys like Imperial Oil, Cenovus, CNRL, etc. I think that people should be optimistic that the future is looking pretty bright around here. At least that’s how I feel.”