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Move over Keystone XL. There's a new pipeline in town.

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Todd Korol/Reuters/File

(Read caption) TransCanada President and CEO Russ Girling (2nd L) announces the new Energy East Pipeline during a news conference in Calgary, Alberta, in August.

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TransCanada Corp has released a study commissioned from the consulting and audit firm Deloitte Touche that estimates the benefit to Canada from the company's proposed Energy East Pipeline from Alberta to the Atlantic Coast, just as Canadian Natural Resources Minister Joe Oliver met this week with U.S. Energy Secretary Ernest Moniz to put the ball back in Washington's court over the controversial and long-delayed Keystone XL Pipeline.

The Energy East Pipeline would feed refineries in Quebec and New Brunswick that at present get 86 per cent of their crude supply from the international market at much higher prices than they would pay for crude from Alberta. The Deloitte report estimates that it would boost Canadian gross domestic product by $35 billion over 40 years, of which about one-third would accrue to Ontario, one-quarter to Alberta, and one-fifth to Quebec. Governments across the country would collect over $10 billion from the project over the next four decades.

 
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