Deal by Kinder Morgan Canada to sell Trans Mountain welcomed with misgivings

Deal by Kinder Morgan Canada to sell Trans Mountain welcomed with misgivings

"Those don't go away and the 157 conditions that Kinder Morgan still hasn't met, well that means the government of Canada hasn't met them either". But the pipeline faces strong opposition in British Columbia, particularly in the Vancouver area.

In fact, will it even be possible, given this precedent, to build any future inter-provincial pipelines in Canada without federal ownership, as opposed to the United States, where Barack Obama boasted during his presidency that his administration had approved enough pipelines to more than encircle the earth?

The government's move effectively nationalises the project in a bid to quash dozens of legal challenges and protests at construction sites.

"The prime minister is forcing them to fix his failure on Canada's energy sector". The proposal is to run the pipeline parallel to the existing one that runs between Edmonton and Burnaby to increase capacity nearly three fold.

Alberta Premier Rachel Notley took a Trans Mountain victory lap on the grounds of the legislature Tuesday while her political opponents questioned whether the province has won anything and, if so, at what cost.

Kinder Morgan Canada will continue to hold an integrated network of crude tank storage and rail terminals in Alberta, the company said.

"We've agreed to a fair price for our shareholders and we've found a way forward for this national interest project", he told a conference call with financial analysts. "If the Federal Court Of Appeal rules that the permits were granted illegally, they were granted illegally to Kinder Morgan or the federal government".

At the same time as the Liberals were drawing up their plans to buy Trans Mountain, the government's budget implementation bill, containing the provisions to impose the federal carbon pricing "backstop" on recalcitrant provinces, was making its way through the House of Commons.

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When asked if money borrowed for the project will not be brought into the country, Dr Mahathir answered in the affirmative. The contractor must be from China and the lending is from China.

The two western provinces have been sparring over the pipeline, a situation that Mr Morneau said can not be allowed to "fester". "I'm concerned there could be catastrophic consequences from a diluted bitumen spill, regardless of the owner of the pipeline", Horgan said.

"Canada's purchase may "'be a vehicle to indemnify the project against regulatory risk", Katie Bays, an analyst with Height Securities LLC in Washington, said in a telephone interview.

"We have to ask ourselves what kind of priorities these Liberals actually have", Cullens said.

Now the Canadian government is stepping in to make sure the pipeline is completed over the objections of environmentalists, especially those in the Vancouver area who are anxious about increased shipping traffic and the possibility of spills along the coast.

"This move sets a awful 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. In return, the province would receive an equity or other stake in the pipeline, depending on the size of its investment.

Canadian taxpayers, conscripted by Trudeau, have now assumed all of the risk from Houston-based Kinder Morgan, which halted work on the pipeline last month, threatening to abandon the project by May 31, because it was too financially risky to proceed.

"The Prime Minister expressed appreciation for Premier Notley's continued support for the project, and confirmed that the agreement will guarantee the resumption of work for the summer construction season and protect thousands of jobs", said the Prime Minister's Office, in a release. But over the past 30 years, the Canadian government has launched a major privatization effort, selling Air Canada, Canadian National Railway and Petro-Canada. "We have a pipeline to build".

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