TD Report Downplays Expected Benefits of New West Coast Pipeline

A recent report from TD Economics predicts that a new oil pipeline to the West Coast will boost Canada and Alberta's gross domestic product (GDP), but not as significantly as previously forecasted by provincial and federal governments.

The report suggests that the pipeline, which is still under development, would have a 'meaningful' impact on GDP, but the exact figure is unclear. The government had estimated a boost of $10 billion to $12 billion per year, but TD Economics believes it may be lower than that.

TD Economics did not provide an exact estimate for the potential increase in GDP, but noted that the pipeline would still have a positive impact on the economy. The report is based on economic models and assumptions about future oil demand and prices.