Trans Mountain court action continues, John Horgan says

Trans Mountain court action continues, John Horgan says

Trans Mountain court action continues, John Horgan says

The Trudeau government's decision to purchase the pipeline comes just weeks after the federal finance minister offered to protect the private investors behind the proposed Trans Mountain pipeline expansion against politically motivated delays.

On Tuesday, Federal Finance Minister Bill Morneau announced the $4.5-billion purchase of the Kinder Morgan assets at the Trans Mountain pipeline project. In order to expand deliveries from the tar sands area, there was an attempt to build the Keystone XL pipeline, but the Obama administration killed that by denying a permit for the pipeline to cross the border.

Finance Minister Bill Morneau unveiled the government's long-awaited, big-budget strategy on Tuesday to save the plan to expand the oilsands pipeline. "This is an opportunity for our young families to get training and jobs, to build homes and careers", said Chief Ernie Crey of the Cheam First Nation.

Motz also said taxpayers money shouldn't have to be put on the line for a project that has met all federal and environmental requirements.

Kinder Morgan will proceed on twinning the pipeline while the sale is being finalized.

CIBC notes the retained assets were expected to contribute about half of the company's 2018 EBITDA of about $400 million, excluding construction funds. This isn't meant to be a long-term purchase. Minister of Natural Resources Jim Carr said that the political polarization over the pipeline's construction was atypical for Canada, and he suggested that the federal government's intervention would restore stability and certainty.

He said the company and Ottawa had also agreed to work together to seek a third-party buyer for the pipeline and the project between now and July 22nd. "The lack of leadership on this issue is now fully evident". Those opposed to the pipeline expansion will not suddenly feel better about it just because Ottawa is in charge, especially when they consider their tax dollars will now be paying for the project they oppose. "The good news though is that I now know the owner and have his phone number and I can call him with my concerns".

The company's announcement ramped up the fight over the contentious project, which has pit the federal government and the landlocked province of Alberta against BC. "The government responded and that's their business".

Other political figures took to social media to share their thoughts on the decision. The measure made Kinder Morgan too nervous to continue. However, the $4.5-billion loan may not be enough to see the pipeline through.

"We are pleased to have worked with the federal government to ensure construction resumes, certainty is increased and Albertans and all Canadians enjoy the many benefits of having the project go forward", Notley said in a statement.

Prior to Tuesday's announcement, the Council of Canadians Victoria chapter announced it would be holding a protest on Thursday, May 31, against the pipeline expansion.

The government's move effectively nationalises the project in a bid to quash dozens of legal challenges and protests at construction sites. To B.C. Liberal leader Andrew Wilkinson or anyone else who questions his opposition to the project, Horgan can ask them how different his stance is from Christy Clark's on Northern Gateway when she was premier.

Because instead of having the private sector do it, Canadian taxpayers are now the owners of the Trans Mountain, for an initial outlay of $4.5 billion, with the final cost likely to be around $7.5 billion.

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