Reuters: Regulatory News: British Columbia says needs more benefits from new pipelines

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British Columbia says needs more benefits from new pipelines Jul 23rd 2012, 17:28 July 23 | Mon Jul 23, 2012 1:28pm EDT July 23 (Reuters) - The government of British Columbia said on Monday that it cannot support construction of Enbridge Inc's C$6 billion ($5.90 billion) Northern Gateway oil pipeline project unless it receives more fiscal benefits from the project. In its first official comment on new oil export pipelines planned by Enbridge and Kinder Morgan Energy Partners LP , the government of Premier Christy Clark said the province would receive only 8.2 percent of total tax revenue generated by Northern Gateway. "Given the risk to British Columbia from land-based and coastal bitumen spills, British Columbia does not believe an equitable distribution exists for fiscal benefits," the province said in a statement. "This imbalance must be addressed prior to British Columbia considering provincial support."

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