INUVIK - The Inuvik Petroleum Show drew more participants this year than last, giving rise to the hope that the proposed Mackenzie Valley pipeline will eventually be built.

More than 520 participants attended the show, up from 440 last year. The event, held from June 13 to 15, included a trade show with 94 booths and a conference with eight guest speakers. Inuvik Mayor Denny Rodgers thinks the renewed interest is probably due to the National Energy Board giving its conditional support for the pipeline and the necessity for the project.

"Now that the NEB has done what they have to do, they (industry representatives) have to come to the event to hear about the (political) climate and industry," Rodgers said.

As keynote speaker Andrew Coyne, editor of Maclean's magazine, noted, the political climate in Ottawa has shifted to one more favourable to the pipeline, Rodgers said.

"With A, a majority and B, a Conservative government, it's probably more apt to invest in this project," Rodgers said.

With the NEB's conditional approval, there are two outstanding issues left: the access and benefit agreements and determining the fiscal framework for the project. Five of the six aboriginal groups in the NWT have agreed to the agreements, with the Deh Cho still in active negotiations.

As for discussing the funding of the nearly $17 billion project, now that the regulatory review and election are completed, the federal government and pipeline proponents can return to the table. Bob McLeod, NWT minister for Industry, Tourism and Investment, said the federal government should pick up part of the bill, as historically it has helped build large projects.

"You have to look at how Canada was built and the federal government has invested in many large developers," McLeod said. "It's not a subsidy for big oil. It's the backstop for the pipeline construction company and will help the pipeline construction get financing."

Construction on the pipeline could start in 2015, with gas flowing by 2018, according to McLeod.

With the recent Enbridge oil leak near Wrigley, though, questions have arisen about the safety of another pipeline in the NWT. Estimates originally placed the amount of oil leaked near Wrigley around four barrels, but now media reports indicate it could be as high as 1,500. That raises questions about environmental safety and regulations that should be in place before the 1,196-km Mackenzie Valley pipeline stretches from north to south through the NWT.

"There are millions of pipelines across the world and sure, leaks do occur," McLeod said. "It's terrible when it does occur but it can be managed and addressed in a public review."

McLeod says the benefits of the pipeline will reach across Canada, and could increase the gross domestic product by $89 billion through the trickle-down effect. Once the pipeline opens up the North, McLeod said it could be as open as Alberta and Saskatchewan.

"Look at the whole geological province," he said. "Look at a map and there are 17,000 wells drilled per year in Alberta and it stops at the NWT border. It's not because it's not here. Companies just need to find a reason and way to get it out."

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