Tuesday, 21 August 2018
Latest news
Main » Morneau talks Trans Mountain at Calgary address

Morneau talks Trans Mountain at Calgary address

31 May 2018

The federal government announced Tuesday it is going to buy the pipeline from Kinder Morgan and that has the union representing steel workers hopeful things will ramp up for them shortly.

Finance Minister Bill Morneau has proposed sacrificing Canadian taxpayers to bail out an uneconomic US pipeline owned by former Enron executives.

British Columbia, the birthplace of Greenpeace, provides critical ocean access to get Canada's landlocked exports out of oil-rich Alberta to new buyers.

"This allows us to get rid of the political risk around [the pipeline] because we [are imposing] federal jurisdiction over the project", he said.

"It's outrageous that Trudeau is using public funds to bail out a multinational corporation when we would create more jobs by investing in building a clean-energy economy instead", Caitlyn Vernon, campaigns director of Sierra Club BC, told the Vancouver Sun. The federal government has repeatedly said the project is in the national interest.

The premier also didn't discourage protesters.

Horgan continued to say that it doesn't matter who owns the pipeline, what matters is defending the province's coast, lands, rivers and streams from the impact of a dilbit spill.

Conservative Leader Andrew Scheer said Prime Minister Justin Trudeau failed to get the job done and had to resort to spending taxpayers' money.

At that time, Kinder Morgan Canada was expecting to begin construction on the expansion in September 2017 and for it to be operational by late 2019.

But the story gets worse for Canadian taxpayers.

While the feds say they intend to sell the pipeline to another company, Ross expressed doubts as to whether that would, in fact, ever happen.

Singapore Airlines has new longest flight in the world to NY
Flights between NY and Singapore are now operated using the double-decker Airbus A380 with a stopover in Frankfurt, Germany. It will seat 67 people in business class and 94 in premium economy, with tickets starting to go on sale from tomorrow.

Indemnification means the federal government would legally agree to bear any financial losses incurred by Kinder Morgan because of yet to be defined "politically motivated delays". He also addressed those who question Ottawa's loyalty to the energy industry.

However, Kevin Birn, an oilsands analyst with IHS Markit, said it's not actually without precedent for the government to participate in projects like this - like the Hibernia oil platform, Line 9 and various heavy-water treatment projects.

As Reuters discovered, it appears that Canada has been taken for a ride by Kinder Morgan.

"They decided the risk was out of whack and they backed away".

"I think the transaction is a win-win".

What kind of a stupid nation buys a leaky pipeline from a bunch of good old Texas boys without doing any due diligence?

Trans Mountain acknowledged in the agreement that none of the terms would prevent the province from changing direction on the project.

The planned expansion of Trans Mountain would almost triple the capacity, running from Alberta's oilsands to the Pacific province of British Columbia, which is opposed to the project.

Indigenous chiefs and First Nations have already assembled in Montreal earlier this week to protest the project, and Indigenous groups protesting the pipeline's construction in Burnaby said they'll push back regardless of Tuesday's announcement. The contribution will convert into equity in the pipeline.

But British Columbia's social democratic government recently joined environmental activists' fight against the pipeline, prompting a trade row with neighbor Alberta and leading Kinder Morgan to temporarily halt its construction until the dispute was resolved.

Morneau talks Trans Mountain at Calgary address