http://www.cbc.ca/news/politics/morneau-kinder-morgan-pipeline-announement-1.4665009
![Matt Scott]()
Matt Scott
![John Douglas]()
![Matt Scott]()
![Troy Mann]()
![david mccaig]()
![david mccaig]()
![David Amos]()
![David Amos]()
![David Amos]()
![]()
Canada's Finance Minister Bill Morneau listens to a question during a news conference about the state of the Kinder Morgan pipeline expansion in Ottawa, Ontario, Canada, May 16, 2018. (Chris Wattie/Reuters)
Canada is willing to write Kinder Morgan — or whoever else steps up to the plate — a cheque to ensure the Trans Mountain pipeline expansion gets built, Finance Minister Bill Morneau says.
Morneau said Wednesday his government is willing to compensate the pipeline's backers against any financial loss due to British Columbia's attempts to obstruct the Trans Mountain pipeline expansion.
"The indemnification would allow Kinder Morgan to finish what they started, what they received federal and B.C. approval to do," he said Wednesday morning, during a news conference that laid out the broad strokes about what his government is willing to do to help the project go ahead.
Morneau's comments come just hours before Kinder Morgan Canada's stakeholder plan to meet in Calgary, and offers an incentive just weeks before the company's potential drop-dead date. Kinder Morgan has threatened to abandon the project if a clear path forward isn't reached by May 31.
"As a government we need to ensure that the rule of law is respected and that investors have the certainty needed to complete the Trans Mountain expansion project because it's in the national interest to do so," he said.
Morneau said that if Kinder Morgan bails on the project, the government would reimburse any other investor that would like to take the project on against financial loss as long as the support is "sound and fair and beneficial for Canadians."
Morneau wouldn't say if there was a cap on how much the government was willing to indemnify the pipeline's backer.
"This is an exceptional situation," he told reporters.
Wednesday's news conference was the first detailed update on the government's efforts to save the controversial pipeline expansion since Prime Minister Justin Trudeau asked his economic lieutenant to work with Kinder Morgan to find a path forward.
It was announced late Tuesday night as Morneau consulted with senior officials in the Alberta government. Morneau also spoke with Kinder Morgan CEO Steve Kean by phone to tell him what he was would be saying.
A senior Alberta government official told CBC News late Tuesday that "Kinder Morgan is not making this easy."
The official, who spoke to CBC News on condition of anonymity, said there is "a lot to lose right now."
![]()
Finance Minister Bill Morneau places the blame for the delay of the Trans Mountain expansion directly on the shoulders of BC Premier John Horgan, and says the federal government is willing to provide indemnity to ensure the project goes ahead. 2:09Last month Kinder Morgan stopped all non-essential spending on its $7.4-billion project after a months-long standoff between the British Columbia and Alberta governments. B.C. has been working to block the pipeline for environmental reasons over Alberta's objections.
The expansion would add a second pipeline along Kinder Morgan's existing pipeline route to carry diluted bitumen from Alberta to the B.C. coast for export on tankers.
Morneau placed the bulk of blame for the delay at the feet of British Columbia Premier John Horgan calling his opposition "politically motivated."
"Premier Horgan's stated intentions are to do whatever it takes to stop the project, which is unconstitutional in its very purpose. These are challenges that frankly put the livelihood of thousands of Canadians and their families at risk."
Morneau's update comes as the May 31 deadline draws closer — and less than 24 hours after the prime minister gave an evasive answer on the state of talks during a visit to Calgary on Tuesday.
"We continue to work very, very hard, both visibly and behind the scenes," Trudeau said to reporters.
"When we have something to announce, you guys will be the first to know."
Morneau says government willing to compensate Kinder Morgan against political delays
Finance minister's update comes the same day Kinder Morgan shareholders plan to meet
· CBC News· Posted: May 16, 2018 9:22 AM ETComments
Matt Scott
John Douglas
@Matt Scott
Socialism is when Harper stepped in to block the sale of Sask Potash Corp and bailed out the auto industry...
...and Doug Ford saying his government will step in and tell a private sector Hydro One how much their CEO and board can be paid...and fire the CEO
thats what cons refer to as Socialism
Socialism is when Harper stepped in to block the sale of Sask Potash Corp and bailed out the auto industry...
...and Doug Ford saying his government will step in and tell a private sector Hydro One how much their CEO and board can be paid...and fire the CEO
thats what cons refer to as Socialism
Matt Scott
@John Douglas Cons or Libs, they both favour the looting of the public sphere to enrich the private sector.
Corporate welfare state.
Corporate welfare state.
Troy Mann
@Matt Scott
You would be crying if they didn't do anything.
You would be crying if they didn't do anything.
david mccaig
@david mccaig
Never give a government a MAJORITY GOVERNMENT , its a blank cheque for government ABUSE .
Stephen Harper taught us that and now Justin Trudeau has reconfirmed it.
Never give a government a MAJORITY GOVERNMENT , its a blank cheque for government ABUSE .
Stephen Harper taught us that and now Justin Trudeau has reconfirmed it.
david mccaig
@Matt Scott
FIVE MILLION BARRELS a day shipped out of Canada of the DIRTIEST OIL on the planet , that's 'our' environmentally friendly Justin Trudeau is trying to SLIP PAST US .
FIVE MILLION BARRELS a day shipped out of Canada of the DIRTIEST OIL on the planet , that's 'our' environmentally friendly Justin Trudeau is trying to SLIP PAST US .
David Amos
@david mccaig Methinks that whereas the NDP BC has upset the NDP in Alberta your only recourse is to blame the Liberals and the Conservatives N'esy Pas?
David Amos
@John Douglas "Socialism is when Harper stepped in to block the sale of Sask Potash Corp and bailed out the auto industry..."
Methinks you have no idea what Harper and I know about that topic and Jac Nasser in particular However after I watched my first comment in this thread get buried by a blizzard of comments by david mccaig et al I decided less is more N'esy Pas?
Methinks you have no idea what Harper and I know about that topic and Jac Nasser in particular However after I watched my first comment in this thread get buried by a blizzard of comments by david mccaig et al I decided less is more N'esy Pas?
Content disabled.
David Amos
![Peter Samson]()
![David Amos]()
Peter Samson
@Lou Parks So I think you have a misconception about oil Lou, you state that it will "provide (people) with *even more* oil to consume" which illustrates a serious failing you have in your logic. Oil does not follow the typical supply/demand curve, oil enjoys an economic relationship called inelastic demand. In layman's terms it means people demand a certain amount regardless of supply or price (which is not the typical behavior of most products). For example, gas was really cheap a year or so ago, did you just leave your car idling? Just go drive around for hours because it was affordable to do so? Not likely. The truth is the world consumes a fixed amount of oil, and it doesn't really matter as far as GHG whether it's oil is from Alberta or from Saudi Arabia. Your assumption that this pipeline will supply 600,000 more barrels/day, as if it will be burnt in addition to what the world is already consuming, is demonstrably false.David Amos
@Peter Samson Well put Sir
Morneau says government willing to compensate Kinder Morgan against political delays
Finance minister's update comes the same day Kinder Morgan shareholders plan to meet
· CBC News· Posted: May 16, 2018 9:22 AM ET
Canada is willing to write Kinder Morgan — or whoever else steps up to the plate — a cheque to ensure the Trans Mountain pipeline expansion gets built, Finance Minister Bill Morneau says.
Morneau said Wednesday his government is willing to compensate the pipeline's backers against any financial loss due to British Columbia's attempts to obstruct the Trans Mountain pipeline expansion.
"The indemnification would allow Kinder Morgan to finish what they started, what they received federal and B.C. approval to do," he said Wednesday morning, during a news conference that laid out the broad strokes about what his government is willing to do to help the project go ahead.
Morneau's comments come just hours before Kinder Morgan Canada's stakeholder plan to meet in Calgary, and offers an incentive just weeks before the company's potential drop-dead date. Kinder Morgan has threatened to abandon the project if a clear path forward isn't reached by May 31.
"As a government we need to ensure that the rule of law is respected and that investors have the certainty needed to complete the Trans Mountain expansion project because it's in the national interest to do so," he said.
Morneau said that if Kinder Morgan bails on the project, the government would reimburse any other investor that would like to take the project on against financial loss as long as the support is "sound and fair and beneficial for Canadians."
"This is an exceptional situation," he told reporters.
Wednesday's news conference was the first detailed update on the government's efforts to save the controversial pipeline expansion since Prime Minister Justin Trudeau asked his economic lieutenant to work with Kinder Morgan to find a path forward.
'A lot to lose'
It was announced late Tuesday night as Morneau consulted with senior officials in the Alberta government. Morneau also spoke with Kinder Morgan CEO Steve Kean by phone to tell him what he was would be saying.
A senior Alberta government official told CBC News late Tuesday that "Kinder Morgan is not making this easy."
The official, who spoke to CBC News on condition of anonymity, said there is "a lot to lose right now."
Politics News
Morneau blames Horgan for Trans Mountain delay
00:0002:09
The expansion would add a second pipeline along Kinder Morgan's existing pipeline route to carry diluted bitumen from Alberta to the B.C. coast for export on tankers.
Shots at Horgan
Morneau placed the bulk of blame for the delay at the feet of British Columbia Premier John Horgan calling his opposition "politically motivated."
"Premier Horgan's stated intentions are to do whatever it takes to stop the project, which is unconstitutional in its very purpose. These are challenges that frankly put the livelihood of thousands of Canadians and their families at risk."
Morneau's update comes as the May 31 deadline draws closer — and less than 24 hours after the prime minister gave an evasive answer on the state of talks during a visit to Calgary on Tuesday.
"We continue to work very, very hard, both visibly and behind the scenes," Trudeau said to reporters.
"When we have something to announce, you guys will be the first to know."
With files from the CBC's David Cochrane and Vassy Kapelos
Socialism really sucks.