Federal Government to buy Trans Mountain Pipeline for $4.5 billion


Alberta's premier calls the decision by the federal government to purchase the Trans Mountain Pipeline Expansion for $4.5 billion "a major step forward for all Canadians".

The ensuing uncertainty, paired with vociferous opposition from environmental groups and some Indigenous communities in B.C., prompted Kinder Morgan to halt investment until the federal government could inject some certainty into the project.

John Horgan, British Columbia's premier, has asked a court to determine whether the province has jurisdiction over the pipeline, vowing to block the expansion if the court says yes.

Steve Kean, chairman and chief executive of Kinder Morgan Canada Ltd., said the deal represents the best opportunity to complete the expansion project. The move will be a key test of Trudeau's bid to balance the environment and the economy by backing the $7.4 billion pipeline expansion while pushing a national carbon price to reduce greenhouse gas emissions.

Trudeau pledges regularly that the pipeline will be built.

After her arrest, May said permits issued for the twinning of the existing Trans Mountain pipeline did not respect the rights of Indigenous people. "Make no mistake: this is an investment in Canada's future".

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Morneau says it is not the Government of Canada's intent to be a long-term owner of the pipeline and it will work with investors to transfer the project and related assets to a new owner to ensure the project operates in the public's interest.

Buying the pipeline outright had become increasingly likely after Prime Minister Justin Trudeau first pledged only to backstop it.

Do you support the federal government's purchase of Trans Mountain?

Trudeau is gambling billions of Canadian taxpayer dollars on an oil project that will never be built - a project that Kinder Morgan itself has indicated is "untenable" and that faces more than a dozen lawsuits, crumbling economics, and a growing resistance movement that is spreading around the world.

The Trans Mountain expansion would nearly triple capacity to 890,000 barrels of oil on a line running from Alberta to a terminal near Vancouver.

Opponents of the Kinder Morgan project are concerned over the environmental impact of extracting more fossil fuels from Alberta's oil sands and the possibility of an oil tanker spill in Canada's Pacific waters.

"How much of a win is this for Canadians?" "The government was under tremendous political pressure to get this deal done".