TransCanada Testifies at U.S. Senate Committee Discussing Lowering Carbon Emissions
CALGARY, Alberta – October 28, 2009 –TransCanada Corporation (TSX, NYSE: TRP)
(TransCanada) outlined its views on the role of natural gas in mitigating climate change.
TransCanada Executive Vice-President, Pipeline Strategy and Development Dennis
McConaghy testified before the U.S. Senate Committee on Energy and Natural Resources
today.
McConaghy stated that TransCanada believes increased use of natural gas can make a
significant contribution to meeting the energy security and climate objectives of the U.S. This
is due to the facts that the supply of natural gas is largely domestic, is abundant, is the cleanest
burning hydrocarbon and there is substantial infrastructure currently in place to bring the gas
to market.
TransCanada believes that effective U.S. climate policy should recognize the significant
potential of natural gas in meeting greenhouse gas (GHG) emission reduction objectives in
both the short and long term.
In the short term, meaningful GHG emission reductions can be achieved by more fully
utilizing already installed natural gas electric generation capacity. And, because of abundant
and readily available supplies, these emission reductions can be achieved without a substantial
impact on natural gas prices. In the longer term, TransCanada believes that North America’s
abundant natural gas resource supplies can be one of the foundations upon which United
States climate change policy is built.
With electric generation accounting for a third of all greenhouse gas emissions, burning more
natural gas for electric generation will produce immediate and verifiable GHG emission
reductions.
When new generation capacity is required, natural gas has significant advantages as a lowcarbon
generating resource that is easily and quickly transported. TransCanada supports the
concept of using more natural gas as the lowest carbon content fossil fuel in a stable
investment environment that includes access to North America’s large natural gas resources –
both onshore and offshore.
To read McConaghy’s entire testimony, please click on the following link:
http://www.transcanada.com/pdf/company/Dennis_M_testimony_10_09.pdf
With more than 50 years’ experience, TransCanada is a leader in the responsible development
and reliable operation of North American energy infrastructure including natural gas
pipelines, power generation, gas storage facilities, and projects related to oil pipelines.
TransCanada’s network of wholly owned pipelines extends more than 59,000 kilometres
(36,500 miles), tapping into virtually all major gas supply basins in North America.
TransCanada is one of the continent’s largest providers of gas storage and related services with
approximately 370 billion cubic feet of storage capacity. A growing independent power
producer, TransCanada owns, or has interests in, over 10,900 megawatts of power generation
in Canada and the United States. TransCanada’s common shares trade on the Toronto and
New York stock exchanges under the symbol TRP.
$USD 329.00
Now completely re-designed providing more clarity ...
$USD 329.00
Now completely re-designed providing more clarity ...
$USD 329.00
Now completely re-designed providing more clarity ...
