Canada willing to back controversial pipeline

Alberta premier Rachel Notley

Alberta premier Rachel Notley

But the B.C. government has gone to court to determine if it can block the project over environmental concerns.

The ongoing debate over the Kinder Morgan pipeline took a nastier tone this week.

Morneau seems convinced that if Kinder Morgan pulls out of the pipeline project one of its competitors would be willing to take it over, Chantal Hébert writes.

The Canada Pension Plan Investment Board (CPPIB), which manages the largest pension fund in the country, said that it might consider becoming involved.

"It doesn't matter who the owner is, even if it's the federal government, you're not getting the grandma off the picket line in Burnaby", said the source.

That sounds like Kinder Morgan is bailing on a fully approved, fully paid for pipeline that we are now offering big incentives and securities for others to buy into because another is walking away.

At a press conference Wednesday, Finance Minister Bill Morneau said the government would step in and financially back the project either with Kinder Morgan or with another company, if necessary.

If this project is in fact in the interest of Canadians, it will be scrutinized in a thorough and credible way.

Kenney says, from his experience, Trudeau struggles with nuanced political issues, particularly the contentious debate around the expansion of the Trans Mountain pipeline.

In a statement of his own, Horgan said his government is within its rights to stand up for B.C.'s environment, economy and coast against the threat of a bitumen spill.

The Finance Minister responded by saying he believes the approach Ottawa is taking would preclude any big bailout by taxpayers.

"We see a path to an outcome that will assure that we can get the advantage that we're seeking", Morneau said.

"We actually think this is a project that can be done on commercial terms and we're trying to find a way that ensures that happens".

As is often the case with an announcement from this government, the potential cost of compensating Kinder Morgan isunknown.

Prime Minister Justin Trudeau, speaking to reporters in NY on Thursday, said he's confident the economics of the Trans Mountain expansion are solid because it will help Canadians fetch higher prices for oil exports "The discount Canadian oil producers [must accept] because we only have a single market to which we sell 99 per cent of our oil exports - the United States - means we're losing about $15-billion a year".

Moe says without better market access Saskatchewan may not be able to continue contributing to equalization.

"Kinder Morgan never asked for taxpayer money or a federal backstop". Mackenzie Financial Corp lifted its stake in Kinder Morgan by 193.5% in the 4th quarter.

Kinder Morgan, Inc operates as an energy infrastructure company in North America. "Therefore, [it] will have nothing to say on Mr. Morneau's comments".

The province has sought to stop the project in court, first by joining a challenge launched by First Nations, then by putting a reference question to the B.C. Court of Appeal on the legality of proposed legislation that would allow it to restrict the movement of a substance that arrives from another province via pipeline or rail.

Alberta Premier Rachel Notely reiterated she is prepared to "turn off the taps" of supplying oil to British Columbia if the dispute isn't settled soon.

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