Published: Sat, June 02, 2018
Sci-tech | By April Francis

Kinder Morgan opponents to fight on

Kinder Morgan opponents to fight on

"The Trans Mountain expansion project is of vital interest to Canada and to Canadians", Morneau told a news conference in Ottawa.

This was stated by the Minister of Finance of Canada bill Morneau, reports "UKRINFORM".

The $4.5-billion purchase price does not cover the construction costs of building the new pipeline, however; Morneau refused to say what that cost may be.

"I believe that the government's idea is to make Trans Mountain the last pipeline that's built", he said.

Natural Resources Minister Jim Carr, openly concerned about the loss of investment in Canadas resource sector, said the deal will “advance Canada as an energy leader, as a place where good projects get built.”.

"This is a major step forward for all Canadians", tweeted Rachel Notley, the premier of Alberta.

"Our prime minister thinks that it's appropriate to use public funds to bailout a project that does not have a social licence, that does not have the consent of communities and is completely unacceptable in 2018 to use public money ... on a project that expands the fossil fuel industry in 2018 when we're supposed to be taking real, meaningful action on climate change", she said.

The investors who eventually buy the pipeline could include those groups, Doucet said, but he added the price, likely $10 billion to $12 billion after construction is complete, means some of the investors will need deep pockets.

The Provinces of British Columbia in April asked the B.C. Court of Appeal to decide the province has the power to restrict increased heavy crude shipments to its coast due to oil spill fears.

"Our Canadian employees and contractors have worked very hard to advance the project to this critical stage, and they will now resume work in executing this important Canadian project", said Kean.

Horgan said the federal government is now totally accountable not just for regulation and approval of a pipeline but for the movement of crude from the wellhead to the Pacific Ocean and beyond. Until then, the pipeline expansion will proceed under the ownership of a Crown corporation.

It has agreed to help the government try to find an alternative buyer over the next two months.

During the call, Trudeau reiterated the federal government's jurisdiction over interprovincial pipelines, and noted that the Government of Canada is confident that, with this agreement, it is upholding the trust Canadians have placed in the government to both grow the economy and protect the environment.

As part of the planned takeover, existing profit sharing or other agreements established between Kinder Morgan and 32 indigenous groups in British Columbia and Alberta will be maintained under whatever transactions are negotiated.

Kinder Morgan has estimated the expansion would cost $7.4 billion, of which $1.1 billion has already been spent, but it admits that estimate is out of date and doesn't take into account delays caused by ongoing court challenges and permitting in B.C.

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