Ottawa Buying Trans Mountain Pipeline Assets for $4.5 billion

31 May, 2018, 17:14 | Author: Elaine Woods
  • Canada to Buy Kinder Morgan Pipeline for $3.5 Billion

Horgan said the province remains concerned about the "catastrophic consequences" of a spill, "regardless of the owner of the pipeline, regardless of the owner of the rail cars". But the provincial government - elected a year ago on a pledge to block the project - filed a legal case seeking jurisdiction to impose additional marine protection measures, such as capping future bitumen shipments, that would effectively derail the project.

"It allows us to move forward with the investments required to get the expansion completed and delivering the value that we know it can deliver to the Canadian economy".

In a way, protests against the pipeline appeared to have had their intended effect, George said.

"Why this was necessary is because commercial operations like Kinder Morgan were obviously not prepared to proceed with the project with the cloud of political uncertainty hanging over it which was caused by British Columbia", he said, later noting the federal government "does not suffer the same impediment" and won't be intimidated or deterred by B.C.

Berman said the Liberal government "made a very big mistake" by backing Kinder Morgan's project and alienating voters to create "a ideal storm" that would prompt people to take action.

Finance Minister Bill Morneau said the decision was exceptional and that the rule of law needs to be seen as a business advantage to investing in Canada.

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.

The issue has divided two Canadian provinces, pitting Alberta's government against leaders in British Columbia. "Our court case is against Canada", he said.

His Liberals face a hard balancing act in trying to champion climate action while supporting growth in Canada's oil sector. But British Columbia has refused to yield.

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"With Trudeau's announcement today, he's forcing Canada, forcing Canadian taxpayers, to pay for his failure in the energy sector". The completed pipeline would transport almost 900,000 barrels of diluted bitumen a day, with the substance being controversial as little is known about its pollutant properties. "There are a lot of jobs in Saskatchewan that are either directly affected by the pipeline or indirectly affected by the pipeline".

The federal finance minister said the government does not plan to be the long-term owner of the pipeline and expects the project to be transferred to private sector investors "at an appropriate time".

"Trudeau is gambling billions of Canadian taxpayer dollars on an oil project that will never be built", Mike Hudema, a climate and energy Campaigner at Greenpeace Canada, declared in a statement on Tuesday.

Prime Minister Justin Trudeau has long insisted the project is in Canada's national interest and is a pivotal part of the country's economic future.

According to Hudema, the movement opposing the project " will not back down" following the government's purchase.

The federal decision to buy the pipeline could prompt further legal challenges by Indigenous Peoples, said Prof.

"The Trans Mountain Expansion faces even steeper obstacles and will soon become the third, and Trudeau just put the public on the hook for the costs", Hudema said. A new Crown corporation will be created to manage the project.

"This move sets a bad precedent and signals to other prospective investors that large projects such as pipelines can not be built by private industry in Canada", said Aaron Wudrick, federal director of the Canadian Taxpayers Federation.

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