Indigenous activists eye oil spill at Kinder Morgan pumping station

Kinder Morgan

$4.5B Trans Mountain plan won't mean Ottawa in pipeline business, says Morneau

On Tuesday, Federal Finance Minister Bill Morneau announced the $4.5-billion purchase of the Kinder Morgan assets at the Trans Mountain pipeline project.

More than 200 people have been arrested already at a Kinder Morgan facility in Burnaby, B.C. But the next protester who is arrested will be handcuffed in the name of Mr. Trudeau and his Liberals, University of B.C. political scientist Kathryn Harrison said.

If Canada takes on the project, Export Development Canada would finance it through a newly established Crown corporation - an approach officials say would help to defray B.C.'s threats of delay. 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. "There are a lot of political risks for the federal Liberals", she said.

Meanwhile, the rally drew hundreds of Vancouverites, all opposing the Kinder Morgan purchase.

This decision makes ideal sense so I'm a little surprised that Justin Trudeau's government is behind it.

There are parties interested in the pipeline, including Indigenous communities and pension funds, Morneau said, but his officials acknowledged it may be hard to find a buyer amid lingering uncertainty until after the pipeline is actually built. For those who have soft support for the pipeline but are unimpressed with how Trudeau and Alberta premier Rachel Notley have thrown their weight around to bully B.C. into submission, Horgan appears as a resolute premier standing up for B.C. against the selfish outsiders from Edmonton and Ottawa.

"We've agreed to a fair price for our shareholders and we've found a way forward for this national interest project, " he told a conference call with financial analysts.

On CHOK's The Talk Show, live from Parliament Hill Tuesday morning, Marilyn Gladu criticized the spending of $4.5-billion of taxpayers money to try to get the pipeline built.

Kinder Morgan Canada's pipeline business earned $63.6 million before depreciation and amortization in the three months to the end of March, compared to earnings of $53.6 million for its terminal business.

CALGARY-Analysts at CIBC have cut their target share price for Kinder Morgan Canada Ltd. and say its future is cloudy in the wake of its deal to sell its biggest current and growth asset - the Trans Mountain pipeline system - to the federal government.

But Morneau said the Alberta-British Columbia feud, which led Alberta to boycott British Columbia wines and threaten to cut the neighbouring provinces fuel supplies, "cannot be allowed to fester".

Manuel is preparing for a battle this week, as she expects the federal government will manage to greenlight the project.

Moe wants Ottawa to use the full scope of its jurisdiction to get the pipeline completed.

Kinder Morgan had set a Thursday deadline to gain certainty over the project or abandon it altogether.

Prime Minister Justin Trudeau has long insisted the project is in Canada's national interest and is a pivotal part of the country's economic future.

"Trudeau is gambling billions of Canadian taxpayer dollars on an oil project that will never be built", Mike Hudema, a climate and energy Campaigner at Greenpeace Canada, declared in a statement on Tuesday. A lack of capacity in pipelines or in rail cars to ship oil produced in Alberta is also hurting Canada's energy sector.

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