Feds explore buying Trans Mountain; Morneau's decision coming Tuesday — NewsAlert

Feds explore buying Trans Mountain; Morneau's decision coming Tuesday — NewsAlert

It's safe to say the Government of Canada will still be in the pipeline business after the general election in 2019.

The regional Member of Parliament reflected on Tuesday's announcement from the federal Liberals, who reached an agreement with Kinder Morgan to take over the expansion of the Trans Mountain pipeline project, which involves twinning an existing pipeline that runs between Edmonton, AB, and Burnaby, B.C. "The only (way) in our estimation that that can be done is through exerting our jurisdiction by purchasing the project". TD Securities downgraded shares of Kinder Morgan Canada from a "buy" rating to a "hold" rating and decreased their price target for the stock from C$24.00 to C$17.50 in a research report on Tuesday, April 10th.

If the government had read the fine print of Kinder Morgan's security filings, it would note that the company warned its investors past year about the threat posed by successful action on climate change, in response to a formal complaint from Greenpeace on inadequate disclosure of climate risk.

Pending their approval, the sale would be finalized sometime in August or September.

Buying the Kinder Morgan Trans Mountain pipeline does not ensure the expansion project is built.

Mayor Darling wants Ottawa to apply that same vigour and commitment to reviving the pipeline that would bring Alberta oil to New Brunswick.

"It was such a huge investment in the fossil fuel industry, but also for the federal government to be putting that many billions of dollars into a project that the private sector is walking away from - it seems quite risky", Harrison said. Canada would then proceed with construction, selling the pipeline when it would generate the best return.

Multiple court cases are still pending against it, including the constitutional reference question from the B.C. government.

Horgan's government has since sued Alberta to stop the bill. The court challenge was filed about two weeks later.

Morneau stressed repeatedly the pipeline is commercially viable and profitable.

It also stated increasing pressure on current pipeline infrastructure is pushing more companies to utilize trucks and rail for product transportation.

For his part, Trudeau rejected the idea, accusing the Conservatives of raising "old news" because they were embarrassed that they couldn't get pipelines built when they were in government.

Kinder Morgan said it got "a fair price" for its assets.

This turned out to be the federal government, which approved in back in 2016 and has been supporting it ever since without, however, finding a way to put an end to the opposition.

So this was Prime Minister Justin Trudeau's "just watch me" moment. However, this is highly controversial in the province of British Columbia.

Alberta Premier Rachel Notley, however, could barely contain her delight. "That certainty is absolutely critical".

The government's purchase price is reasonable if broken down into $3.5 billion for the existing pipeline and $1 billion to recoup money already spent on the expansion, said Richard Masson, former CEO of the Alberta Petroleum Marketing Commission and a fellow at the University of Calgary's School of Public Policy.

"This concerns a lot of people so we are absolutely going to ramp up our demonstrations and our movement", George said.

The Prime Minister had other options.

Related Articles

  • Trump not backing down on 'spy' allegations

    Trump not backing down on 'spy' allegations

    According to a USA official familiar with the broader of the two meetings, the briefers did not reveal the name of the informant. Flood and White House chief of staff John Kelly attended the start of the briefings before leaving.
    'Solo: A Star Wars Story' disappoints at the box office

    'Solo: A Star Wars Story' disappoints at the box office

    The movie sold $14.1 million in Thursday preview ticket sales, which is a record for the Thursday before Memorial Day Weekend. Boba Fett first appeared in the Star Wars Holiday Special (If you've never seen it, please watch it for as long as you can).
    Warriors struggle against Rockets, lose 98-94 in nail-biting Game 5

    Warriors struggle against Rockets, lose 98-94 in nail-biting Game 5

    They found themselves down 2-1 before winning three straight to meet the Cleveland Cavaliers in the Finals. With the Rockets clinging to a two-point lead, Gordon sealed the victory at the foul line.
  • Trump is back to publicly bashing Jeff Sessions

    Trump is back to publicly bashing Jeff Sessions

    In the past year, Trump has publicly referred to his attorney general as " beleaguered " and even referred to Sessions in February as " Mr.
    Donald Trump says summit with Kim Jong Un still on the cards

    Donald Trump says summit with Kim Jong Un still on the cards

    Marco Rubio 's comment during his earlier appearance on "This Week" Sunday that Kim Jong Un is not going to denuclearize. Moon said. "It was like an ordinary encounter between friends", he said of his Saturday meeting with Kim Jong Un .
    Wind, forward speed picks up as Alberto becomes more tropical

    Wind, forward speed picks up as Alberto becomes more tropical

    Sunday, during the period when Alberto is expected to pass closest to South Florida on its course toward the northern Gulf coast. Alberto is officially classed as a subtropical storm, which can develop into tropical storms and potentially hurricanes.
  • Unarmed teacher who stopped IN  school says he had to save students

    Unarmed teacher who stopped IN school says he had to save students

    He said Jason Seaman was a defensive end for Southern Illinois University's football team and had never been a person to run away. Seaman was trying to protect the students in his seventh-grade classroom while also attempting to disarm the shooter on Friday.
    Attorney: Cowboys wide receiver Williams misspoke about crash

    Attorney: Cowboys wide receiver Williams misspoke about crash

    The police report states that Williams told the cops he was just "driving down the street and he fell" off his electric bike. Anytime you hit a curve going about 60 miles per hour and struck his head, I don't know, but we're going to find out.
    Won't stand for the anthem? Get out of the country, says Trump

    Won't stand for the anthem? Get out of the country, says Trump

    Players who do not wish to participate in the anthem ceremony can remain in the locker room, with no penalty to the team. When you have 53 guys on a team, there's going to be different feelings. "Still yet to be seen", he said.
  • Egypt’s Mohamed Salah Given Fresh World Cup Injury Boost

    Egypt’s Mohamed Salah Given Fresh World Cup Injury Boost

    Salah has now flown to Spain to undergo treatment, along with doctors from both Liverpool and the Egyptian national team. Russia's first-ever FIFA World Cup will take place from June 14 to July 15 at 12 venues in 11 host cities.
    Netanyahu: There is no place for Iran in Syria

    Netanyahu: There is no place for Iran in Syria

    In recent days, Israel and Iran are said to have passed a large number of messages via Jordan regarding the situation in Syria. The US warned it would take "firm and appropriate measures" in response to any violations of that ceasefire.
    Texas A&M among the teams that Texas will host in NCAA regional

    Texas A&M among the teams that Texas will host in NCAA regional

    The Seminoles (43-17) became the first team since Wake Forest in 1998 and 1999 to claim back-to-back ACC baseball titles. Louisville could not respond with any runs of their own, and the 11-8 score would stand by the end of the tenth inning.