Canada Is Already Trying to Sell Trans Mountain

01 June, 2018, 02:19 | Author: Dwayne Harmon
  • Kinder Morgan reported the spill at its Darfield station around 5 a.m

McMillan said if a pipeline that meets a high regulatory standard, has all the approvals, support from a majority of Canadians and the backing of the federal government can not get built, it sends a chilling signal that Canada is not open for business.

"This seems to be happening on a scale that's unprecedented".

January 12, 2016: Alberta Premier Rachel Notley says in a written submission to the NEB that the Trans Mountain pipeline expansion is in the best interests of both Alberta and Canada.

Finance Minister Bill Morneau announced Ottawa's plan to buy the pipeline for $4.5 billion.

Kenneth Green, the Fraser Institute's senior director of natural resource studies, said he thinks the $12-billion cap on spending is meaningless.

"Today we take a major step forward for Albertans and for all Canadians", said Notley.

"You can't stop in the middle".

Mayors and councillors, totalling about 1,100, from urban municipalities across the province voted at the 2017 AUMA convention "in favour of a resolution supporting the Trans Mountain Pipeline expansion and urging our federal government and the government of Alberta to ensure that the pipeline is built", the letter reads. "They'll either print more money or they'll have the Canadian Pension Plan fund it".

Morneau sidestepped questions about how Ottawa will deal with opposition from environmentalists and aboriginal groups, who cite the risk of a catastrophic spill.

In 2009, Ottawa spent $13.7 billion Dollars bailing out General Motors and Chrysler.

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Options for the pipeline expansion include the government buying the project and selling it after completion or buying it on an interim basis and selling it to investors for further construction, the Canadian Press reported. Will you get your $12 billion back?

Kinder Morgan played by all the rules to get the expansion approved; it became Ottawa's job to ensure that its decision was not blocked by one grandstanding premier. Scotiabank reaffirmed an "outperform" rating and issued a C$23.00 price target on shares of Kinder Morgan Canada in a report on Monday, April 16th.

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. "From a negotiating standpoint, it's a very weak place to start".

"Kinder Morgan has recently indicated that it needs to be provided with certainty that it can build the Trans Mountain Pipeline by May 31 or it is not proceeding with the project", town documents stated.

August 2015: The NEB postpones public hearings after striking from the record economic evidence prepared by a Kinder Morgan consultant who was to begin working for the regulator.

Morneau's commitment still doesn't guarantee the expansion will be built.

Earlier this month, her government passed a law giving Alberta the power to limit oil and gas exports to other regions, which could cause gasoline and jet fuel prices to spike in B.C.

March 27, 2018: City of Burnaby, B.C., says it will file an appeal to the Supreme Court in connection with the Federal Court of Appeal ruling. Some First Nations saw it as an attack on Indigenous rights.

Another protest is planned for Saturday morning on Burnaby Mountain.

Members noted the efforts already undertaken by the government of Canada, including a rigorous approval process, acknowledging the project is in the national interest and approving it to move ahead.

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