Published: Wed, May 30, 2018
Markets | By Erika Turner

Alberta premier cheers pipeline purchase; opponents express concern, caution

Alberta premier cheers pipeline purchase; opponents express concern, caution

Our premier says he will continue the fight in court against the expansion of the Trans Mountain pipeline, regardless of who owns the project.

The Government of Canada made a major purchase today, shelling out $4.5 billion to buy the Trans Mountain pipeline from Kinder Morgan.

"Kinder Morgan never asked for one dollar of taxpayer money", Motz said.

But even if the Keystone XL pipeline is built, Canada is still selling 99% of its oil to refineries in the US and that narrow market means they now get far less per barrel than they would if they had access to an alternative market.

"The vast majority of Canadians believe that Canada should develop its oil and gas resources, that it can be done responsibly", she said, "and that the federal government should be leading decision-making on these issues". Kinder Morgan Canada and the federal government will spend the next eight weeks jointly trying to find another buyer for the pipeline.

"All hell is about to break loose in British Columbia", said long-time environmental activist Tzeporah Berman, who knocked on doors for the federal Liberals in British Columbia in 2015, helping Mr. Trudeau secure a decisive majority government, including 18 seats in Canada's westernmost province.

"And, it will reassure investors that Canada is a country that respects the rule of law and gets big, important things done", he added.

"This is a great set of assets that we are now expanding and expect to continue to find opportunities to expand in the future", Kean said.

Canada only has two options for selling that oil. He said that the pipeline had "significant commercial value" and that the government intends to sell it to private investors over time.

"Our regulatory processes are fundamentally broken", the Business Council of British Columbia said in a statement.

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Until now, Trudeau's government has used a soft tone to try to convince British Columbia to abandon its opposition to the pipeline, hoping not to alienate voters in the province before next year's general election.

"Canada stands to sacrifice its global reputation, irreplaceable iconic species like the Southern resident Killer Whales, and its commitments to meet its Paris Climate targets and to reconcile with Indigenous people - all while putting enormous risk on Canadian taxpayers".

"It's outrageous that Trudeau is using public funds to bail out a multinational corporation when we would create more jobs by investing in building a clean-energy economy instead", Caitlyn Vernon, campaigns director of Sierra Club BC, told the Vancouver Sun.

Mr. Horgan said Mr. Trudeau's commitments to reconciliation with Indigenous peoples are coming to an unavoidable conflict with this pipeline.

In recent months, thousands have protested against the project across Canada. It spoke to the transportation of diluted bitumen through British Columbia by rail or by pipe.

The Canadian pipeline industry welcomed news Tuesday that the Trans Mountain expansion pipeline is more likely to be built, but expressed grave misgivings over the federal government's decision to buy both the expansion and the existing line in order to achieve that goal.

Duane Bratt said it's too soon to say whether Trans Mountain will give Notley a bump in the polls, but no deal by Thursday would clearly have been a killer.

The government does not intend to be the long-term owner of the pipeline, however, and has already begun speaking with interested parties about transferring ownership later on.

Alberta province also pledged to provide "emergency funding" for the pipeline's construction, if needed.

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