Published: Sun, June 03, 2018
Sci-tech | By April Francis

There may be credit implications with Trans Mountain

There may be credit implications with Trans Mountain

The Indigenous groups hand-delivered a letter to Alberta Premier Rachel Notley when she visited Fort McMurray on Thursday, saying the hope to become part owners of the project.

We will continue to stand up for Canada's resource sector, and most importantly, the men and women whose livelihoods depend on it.

If no one wanted the pipeline last week for $4.5 billion, why would anyone pay $5 billion or $6 billion for it now?

Now, Justin Trudeau has chose to use taxpayer money to buy the entire pipeline.

The federal government is said to be confident a buyer can be found before the end of July and that Ottawa can turn a small profit on its investment. "What we know is this is a commercially viable operation that is going to provide significant return to whoever owns it".

"The reason for the Kinder sale was that it wasn't able to get the pipeline built", said Joseph Doucet, dean of the Alberta School of Business at the University of Alberta.

"It's fully subscribed by shippers, it goes to tidewater ... it would be a good asset and you could sell that at a good price once you've got it done", he said.

"Tens of thousands of B.C.jobs depend on pristine coastal and inland waters. I don't think the pipeline is going to be built as quickly as people think it will be".

The Trans Mountain pipeline expansion project has undoubtedly been the topic of conversation at water coolers and dinner tables across the nation this week. "I just wish it hadn't come to this".

If the government had reinforced federal authority for pipelines through the courts and in legislation as soon as B.C. NDP Leader John Horgan became premier previous year, Scheer said that would have prevented Horgan from introducing the uncertainty that ultimately led to Kinder Morgan's nervousness that the project would never come to fruition.

Kinder Morgan has been steering efforts to triple the capacity of a pipeline to Canada's west coast amid bitter provincial divisions.

The decision to buy the project comes over a month after Kinder Morgan halted construction in April amid heavy opposition from the BC government and First Nations groups.

"This is the mischief we are here to address", Killoran said, adding protest organizers are committed to stopping Trans Mountain trucks from entering construction sites and aim to blockade other locations where the company might store equipment or have contractors working on the project.

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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