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Alberta

Tens of thousands of jobs set after Keystone XL makes deal with U.S. Unions

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From TC Energy

Keystone XL Announces Project Labor Agreement with Four U.S. Unions

Creates Multi-Million Dollar Training Program for Renewable Energy Sector

TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) announced today that Keystone XL has reached a project labor agreement (PLA) with four leading U.S. labor unions that will inject hundreds of millions of dollars in middle-class wages into the American economy, while ensuring this pipeline will be built by the highest-skilled and highest-trained workforce.

TC Energy is also working with labor to establish a unique Green Jobs Training Program to help union members acquire the specific skills needed to work in the developing renewable energy sector. The company will contribute approximately $10 million, recognizing the 10 million-plus hours anticipated to be worked on Keystone XL by union workers, to establish new training courses for current and future union members in North America.

“We are proud to partner with these union trades and craft workers to ensure this pipeline will be built by qualified professionals with specialized skills to the highest safety and quality standards,” said Richard Prior, President of Keystone XL. “We are especially proud of the new Green Jobs Training Program, which is an investment in thousands of current and future union workers.”

The four unions that are part of the PLA include the Laborers International Union of North America (LiUNA), the International Brotherhood of Teamsters, the International Union of Operating Engineers, and the United Association of Union Plumbers and Pipefitters. Each union is respected throughout the energy industry for their commitment to safety and quality.

“We’re proud to reach today’s agreement with TC Energy that will put UA members to work on this project, bringing safe and efficient energy to American families,” said Mark McManus, General President of the United Association of Union Plumbers and Pipefitters (UA). “This project will bring good paying jobs to our members, all while keeping energy costs low and delivering a boost to local communities and their economies. We’re ready to get to work.”

Project construction will support the creation of 42,000 family-sustaining jobs in the U.S, including more than 10,000 high-paying construction jobs that will be filled primarily by union workers. Keystone XL pipeline construction will generate $2 billion in earnings for U.S. workers, according to the 2014 Final Environmental Impact Statement done by the U.S. State Department.

“Unions working in the pipeline industry, like the Operating Engineers, pride themselves on achieving the highest level of technical training and safety to earn opportunities to build projects like Keystone XL,” said James T. Callahan, General President of the International Union of Operating Engineers. “When our members build and maintain pipelines, they are built right, built safe, and built to last. North America is in desperate need of more modern, safe and efficient energy infrastructure. Operating Engineers will continue to provide the most advanced training in the industry to ensure that these projects are built to the highest safety and environmental standards by the most skilled workforce possible.”

The agreement also underscores TC Energy’s commitment to hire as many local workers as possible, including Indigenous workers. Under the agreement, the unions will hire a tribal consultant to serve as a liaison, reaching out with job fairs and open houses to identify and support Indigenous members seeking to work on this project.

“The Keystone XL pipeline project will put thousands of Americans, including Teamsters, to work in good union jobs that will support working families,” said Jim Hoffa, Teamsters General President. “We believe in supporting projects which prioritize the creation of good jobs through much-needed infrastructure development.”

Keystone XL will create jobs and energy security in North America, by ensuring a reliable source of crude oil to the United States. Construction of Keystone XL will inject approximately $3.4 billion into the U.S. GDP. Once complete, Keystone XL will continue to contribute to the local economy, adding approximately $55 million in property taxes to local communities in Montana, South Dakota and Nebraska during the first year of operation.

For additional information on the project, visit Keystone-XL.com

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Alberta

Canadian Pacific Railway announces five-for-one stock split, share repurchase program

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CALGARY — Canadian Pacific Railway Ltd. says it will seek shareholder and regulatory approval for a five-for-one split of its common shares. 

Keith Creel, CP’s president and CEO, says the railway believes the share split will encourage greater liquidity for CP’s shares by making them available to a wider group of investors.

Shareholders are scheduled to vote on the proposed split on April 21.

If approved, shareholders will be entitled to four additional shares for each share held, on a date that is still to be determined.

CP’s shares slipped $8.65 or two per cent at $425.42 in midday trading on the Toronto Stock Exchange ahead of the release of its fourth-quarter results.

The Calgary-based railway also says the TSX has accepted its notice to buy back up to 2.5 per cent of its outstanding common shares over the coming year.

This report by The Canadian Press was first published Jan. 27, 2021.

Companies in this story: (TSX:CP)

The Canadian Press

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Alberta

Discount carrier Flair Airlines adds 13 Boeing 737 Max planes to fleet

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EDMONTON — Discount carrier Flair Airlines says it will add 13 new Boeing 737 Max aircraft to its fleet.

The Edmonton-based airline will lease the planes from one of its investors, 777 Partners, which owns 25 per cent of Flair.

Stephen Jones, Flair’s president and chief executive officer, says the addition of the planes will allow the airline to keep fares low while expanding its capacity.

Flair’s announcement of its expansion comes as Canadian airlines cut dozens of routes and lay off staff in response to more severe lockdown restrictions.

The Max was grounded in Canadian airspace for nearly two years beginning in March 2019, after two deadly crashes in Ethiopia and Indonesia.

Transport Canada lifted the grounding order on Jan. 20 after approving a set of changes to the aircraft’s design and requiring pilots to undergo additional training.

This report by The Canadian Press was first published Jan. 27, 2021.

The Canadian Press

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