Thank you, Mark.
I'm going to jump right into it. Some of what I have to say is a reiteration of the last session.
In short, revoking the easement and shutting down Line 5 will create significant repercussions for the Canadian and U.S. economies. It will put a strain on Canada's transportation infrastructure and jeopardize North American energy security. There will be short-term implications and long-term implications.
Line 5 moves 540,000 barrels of fossil fuels a day through Canada and the U.S. It should come as no surprise that it generates significant economic benefits for both nations, to the tune of over $65 billion of direct revenue and $28 billion of indirect revenue in annual trade. It supplies central Canada with gasoline, jet fuel and heating fuel. The economic activity it generates in Sarnia alone supports 29,000 jobs directly and indirectly. It also delivers more than 50% of Michigan's propane demand and provides crude to key Midwestern refineries. Without it, both Canadians and Americans will face higher energy costs, temporary shortages and further economic pressure from the strain on our transportation systems.
There is no alternative to Line 5, as was said. Simply, the capacity to absorb the products moved through it does not exist. Looking at that range, up to 2,000 tanker trucks or 800 railcars a day would be needed to absorb the displaced product. Industry groups in the U.S. have warned that there is not capacity in the trucking industry in terms of drivers or trucks to absorb the propane that it ships, to say nothing of crude. It's a similar case in Canada.
What is absorbed through alternative measures will come with heavy costs. Canadians and U.S. commuters will face congestion, heavier traffic and greater safety risks. Companies that rely on rail to ship goods will face increased competition due to the shortages. In terms of economics, it will cost twice as much to transport fossil fuels by rail, and four times as much to do so using trucks.
I can't stress enough that Line 5 as interstate and international infrastructure is critical to North America's energy security. Our shared energy security is important, not only for the prosperity of our nations but also with regard to our shared climate ambitions. Losing Line 5 and relying on rail, tanker trucks and marine transport will greatly increase scope 3 emissions associated with Canadian energy products. By scope 3 emissions, I'm referring to the additional emissions that will occur if oil and gas products currently moved by Line 5 are instead moved by rail, tanker trucks and ships. This will undermine the efforts of both our nations to advance our ambitious climate targets. It will also force Enbridge to adjust its detailed plan to achieve net zero, which includes using hydrogen and renewable natural gas products. In the future, these fuels could potentially be blended with the natural gas products that move through Line 5 today.
Today Line 5 provides critical energy security for responsibly produced energy products. Tomorrow it could play a role in scaling decarbonization amongst the businesses and retail customers it serves.
The team Canada effort and support behind Line 5 are what we need to continue. We want to underscore that the future of Line 5 will shape North America's energy, economic and climate future. We encourage the federal government to continue its bilateral engagement with the Biden administration to seek a swift and amicable resolution. The scope of the issue and its impacted parties make this a matter of federal negotiation. Working together, we can make sure the shared interests of our nations come first.
Thank you.