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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
TransCanada

Protesters Shut Down TransCanada Pipeline Approval Hearing

By
Reuters
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Michelle Toh
Michelle Toh
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Reuters
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Michelle Toh
Michelle Toh
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August 29, 2016, 11:51 PM ET
Operations At The TransCanada Hardisty Terminal 1 Facility
The proposed site of TransCanada Corp.'s Energy East pipeline, which will transport oil from Western Canada to refineries in the east, is seen near the Hardisty tank farm in Hardisty, Alberta, Canada, on Friday, Dec. 6, 2013. Canadian heavy crude reached its strongest level in more than two months on the spot market as a pipeline connection to the U.S. Gulf Coast began filling with crude ahead of its startup next month. Photographer: Brett Gundlock/Bloomberg via Getty ImagesBrett Gundlock — Bloomberg via Getty Images
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Canada’s National Energy Board has indefinitely postponed hearings in Montreal on TransCanada’s proposed Energy East pipeline after protesters on Monday disrupted the first day’s session, an agency spokeswoman said.

Montreal police said three protesters were arrested on obstruction charges, with two of the three also charged with assaulting a police officer.

Footage posted on Twitter by local media showed protesters at the downtown venue standing, clapping and chanting at the panel.

“Our first priority at any hearing is always the safety of all participants,” NEB spokeswoman Sarah Kiley said in an email. “Once we have determined how we will hear from those intervenors in Montreal who were scheduled to present today and tomorrow, we will share that information.”

See also: BlackRock Investors Refused to Back Two Key Directors at Exxon Mobil

Environmental groups opposed to Canadian oil sands development have fought the 1.1 million-barrel-per-day Energy East pipeline, which would carry crude oil from Alberta to Canada’s Atlantic coast.

Opposition has been particularly strong in the mostly French-speaking province of Quebec, which the pipeline would need to cross on its way to the coast. Opponents include Montreal Mayor Denis Coderre, who has cited concerns the route could endanger forest and agricultural land.

Coderre told reporters on Monday the public needed answers on the number of jobs that would be created from the pipeline and TransCanada’s contingency plan in case of a spill.

See also: Pipelines: The Worst Way to Move Oil, Except For All the Rest

Unionized workers hoping to benefit from the construction work estimate the pipeline would create 2,000 jobs over three years in Quebec, where private investment in large projects has been hit by weak commodity prices.

“Until 2014, there was a shortage of workers,” said construction union representative Eric Verdon, who gathered with unemployed members to protest in favor of Energy East. “Now they can’t find jobs.”

For more on the oil industry, watch Fortune’s video:

Calgary-based TransCanada (TRP) also proposed building the Keystone XL pipeline, which was denied a U.S. presidential permit by Barack Obama last year, and is a frequent target of environmental protesters.

“We are standing by and ready to respectfully and constructively begin the sessions in Montreal after five such productive sessions in New Brunswick – and we will be ready when the sessions resume,” TransCanada said in a statement.

Energy East has had several setbacks in Quebec. In March, the provincial government filed an injunction against the pipeline to force an environmental review, which TransCanada later agreed to.

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