Trans Mountain pipeline decision could end provincial infighting

“All of these things provided a very good beginning point and very good signals as to where Canada was going”, Kinley told On The Coast guest host Matthew Lazin-Ryder on Tuesday, the day his government announced its intentions to buy and potentially spend billions to expand Kinder Morgan’s Trans Mountain pipeline.

Horgan told reporters in Victoria the federal government’s takeover of the project changes the legal situation, but his contentious legal action isn’t aimed at any specific project.

While the Liberal Government claims that building the pipeline is in the best interest of Canada and have reaffirmed their commitment to building the pipeline, I can not understand why the Prime Minister would simply not give Kinder Morgan the assurances they were asking for.

Once the KM sale is complete, Canada will continue the TMX construction on its own, with a view to selling it down the road once market conditions are more favourable.

Kamloops-South Thompson MLA Todd Stone said “bravo to Premier Horgan for taking a $7.4-million project that will create 15,000 jobs that would be built by a private proponent and now it’s nationalization of a multi-billion dollar asset”.

Premier Scott Moe said he hopes Ottawa’s plan works.

Rempel says that Trudeau should have taken a better look at how to enforce federal jurisdiction rather than write a cheque.

Finance Minister Bill Morneau has hinted there’ll be additional costs to the Trans Mountain project, but says they’ll be defrayed by revenue generated by the pipeline itself.

Under the agreement between the federal government and Kinder Morgan, the company would resume construction on the project, which was put on hold in April.

Finance Minister Bill Morneau said in Calgary Wednesday that many parties have expressed interest in investing in the project, including Indigenous groups, Canadian pension funds and others, but said he was “not aware” of the full extent of interested groups when asked whether another energy company could be a potential buyer.

“This is a continued betrayal of promises made to us by Prime Minister Justin Trudeau”, said Khelsilem, an elected councillor and spokesman for the nation, in a statement. “That’s why we’re fighting for the pipeline”.

CIBC slashed its 12-month price target to $17 from $22 because of its lower expectations of future growth in revenue and dividends for Kinder Morgan shareholders.

Over the weekend, an oil spill at a pump station near Barriere, B.C., forced Kinder Morgan to temporarily shut down the existing Trans Mountain pipeline.

“Part of that plan included three elements, one, an absolute cap on oil sands emissions, two, a price on carbon that would apply to the Alberta economy, and three, getting our oil resources to new markets”, Trudeau said, emphasizing that Notley is also NDP.

“The biggest mistake was the federal government didn’t go to the supreme court to get a stamp of approval on jurisdiction”. “We don’t know the costs of construction; we don’t know how or when it’s going to get built”. This includes the Squamish First Nation, which is likely to appeal this week’s B.C. Supreme Court decision to dismiss its challenge of the environmental assessment process for the pipeline.

That sentiment was similar to what Moe said Tuesday in response to the federal government buying the pipeline.