Feds spending $4.5B to buy Trans Mountain pipeline

[Anonymous]

OTTAWA –The federal government announced Tuesday that in order to see the stalled Trans Mountain pipeline expansion built, it will spend $4.5 billion to buy the existing line from Kinder Morgan, and once the sale is finalized, will take on the remaining construction of the addition.



The deal will see Canada become the owner of the cross-provincial pipeline and all of Kinder Morgan Canada's core Trans Mountain assets, through a Crown Corporation.



Kinder Morgan will resume construction on the twinning of the pipeline as early as this week, with financial help from the federal government through an Export Development Canada loan guarantee, through the 2018 construction season.



After the sale is complete—anticipated this August—the federal government will pick up the construction before selling it to a new "long-term" owner or owners, Finance Minister Bill Morneau announced alongside Natural Resources Minister Jim Carr in an early morning press conference Tuesday.



Morneau said Indigenous groups, pension funds, and "multiple" others have expressed interest in the project. He described the $4.5 billion buy-out as a "fair price for Canadians," and said the commercial agreement is a "sound investment opportunity."

https://www.ctvnews.ca/politics/feds-spending-4-5b-to-buy-trans-mountain-pipeline-1.3949663">https://www.ctvnews.ca/politics/feds-sp ... -1.3949663">https://www.ctvnews.ca/politics/feds-spending-4-5b-to-buy-trans-mountain-pipeline-1.3949663



I don't like this and it's not what Kinder Morgan wanted. The best message Ottawa could have sent to international investors would be to enforce their jurisdiction and stop BC from playing games.

[Anonymous]

B.C. First Nation wants to buy a piece of the Trans Mountain pipeline



Cheam First Nation Chief Ernie Crey, who has been a vocal supporter of the project, says his Nation is talking about trying to buy a stake in the pipeline.



"I've made it plain now for a number of weeks that if that door opens to First Nations, we'll be one of the First Nations through the door," he told CKNW's Simi Sara Show.



"Yeah, we would like to take out a stake in this pipeline. But it depends on the circumstances and what's involved. So we're not quite there yet but we anticipate that over the few weeks ahead of us that we'll learn more about that, and it may well be that the Cheam First Nation takes out a stake in this pipeline."



Kinder Morgan lists 133 First Nations with an interest in the pipeline route, 43 of which have signed benefits agreements with Trans Mountain. Thirty-three of them, including the Cheam, are in B.C.



"Yeah, we would like to take out a stake in this pipeline. But it depends on the circumstances and what's involved. So we're not quite there yet but we anticipate that over the few weeks ahead of us that we'll learn more about that, and it may well be that the Cheam First Nation takes out a stake in this pipeline."



Kinder Morgan lists 133 First Nations with an interest in the pipeline route, 43 of which have signed benefits agreements with Trans Mountain. Thirty-three of them, including the Cheam, are in B.C.

https://globalnews.ca/news/4239869/cheam-buy-stake-trans-mountain-pipeline/">https://globalnews.ca/news/4239869/chea ... -pipeline/">https://globalnews.ca/news/4239869/cheam-buy-stake-trans-mountain-pipeline/



Big greens routinely use Aboriginals as pawns in their anti resource campaigns. We know that is disingenuous.

[kiebers]

Something tells me that your fuel costs, that were already outrageous, will get even higher when the government owns the pipeline...

[Anonymous]

Something tells me that your fuel costs, that were already outrageous, will get even higher when the government owns the pipeline...

It should have no affect on domestic fuel prices. The pipeline is for export purposes. The feds will have no trouble finding buyers for it either. It's the message it sends to international investors that sucks. Foreign direct investment in Canada has dropped like a rock under Trudeau's inept regime.



Canada's private sector is in retreat, and Ottawa doesn't seem to care

https://www.macleans.ca/politics/ottawa/canadas-private-sector-is-in-retreat-and-ottawa-doesnt-seem-to-care/">https://www.macleans.ca/politics/ottawa ... m-to-care/">https://www.macleans.ca/politics/ottawa/canadas-private-sector-is-in-retreat-and-ottawa-doesnt-seem-to-care/

Canada losing ground as mining investment destination

http://www.mining.com/canada-losing-ground-as-mining-investment-destination/">http://www.mining.com/canada-losing-gro ... stination/">http://www.mining.com/canada-losing-ground-as-mining-investment-destination/

Foreign direct investment in Canada plunges to the lowest in eight years

http://business.financialpost.com/news/economy/foreign-direct-investment-in-canada-plunges-on-oil-exodus-1">http://business.financialpost.com/news/ ... l-exodus-1">http://business.financialpost.com/news/economy/foreign-direct-investment-in-canada-plunges-on-oil-exodus-1

[Cronus]

I know the pipeline is for export...but still, the government just went into business for itself and will want extra tax money to pay for things. Hope I am wrong but as you stated...Trudeau...........

[Anonymous]

I know the pipeline is for export...but still, the government just went into business for itself and will want extra tax money to pay for things. Hope I am wrong but as you stated...Trudeau...........

The way our prime minister wastes our money, four and a half billion dollars is small change...lol.

[Anonymous]

This is good news for Alberta's beleaguered oil and gas industry..



But, I understand Seoul point about government ownership being the only way we can get our product to tide water.

[Anonymous]

This is plan B in action. Plan A was to guarantee loans to Kinder Morgan. Plan A should have been to enforce federal law from the minute the project was approved. There would've been no need for a plan B if the feds did their job.

[Anonymous]

This is plan B in action. Plan A was to guarantee loans to Kinder Morgan. Plan A should have been to enforce federal law from the minute the project was approved. There would've been no need for a plan B if the feds did their job.

I saw on Global Calgary that it still might not get built..



If it does get built it will end up costing several billion dollars more than the $7.4 billion dollar estimate..



And taxpayers will be on the hook for all of this.

[Anonymous]

Unfucking believable. Well, it's True Dope, so nobody should be surprised.

Opposition Leader Andrew Scheer revealed that Dogwood, an anti-pipeline activist group in B.C., was receiving funding from the Canada Summer Jobs program to hire a temporary employee "to help ... stop the Kinder Morgan pipeline and tanker project."



After Scheer had asked the P.M. why his government was "taking tax dollars from people who are out of work in the energy sector and giving it to people who are trying to block a project in the national interest," Trudeau retorted "Unlike, apparently, the leader of the official Opposition, we believe in free speech."



Are you kidding me?



Seriously. Politicians wave the free-speech flag around all the time. But it is so brassy for the Liberals to wave it concerning the federal summer jobs program that it makes your eyes pop open. What!?



The very last project over which the Liberal government has any right to claim a respect for free speech is Canada Summer Jobs – the very last.



More than 1,600 organizations across the country this year will have to go without federal funds for hiring students because they declined to swear an oath to obey Liberal policy on abortion-on-demand.



Day camps are being cancelled, church camps, sporting events, workshops and social programs, too, by the hundreds, because organizers could not, in good conscience, sign an "attestation" demanded by the Trudeau government promising to support the Liberals' position on, among other things, abortion.



It's not even as though the groups who refused to sign the attestation are working actively against abortion, the way Dogwood is working very actively to stop Kinder Morgan. The vast majority of the jobs they wanted funded had absolutely nothing to do pro-life advocacy.



And still the Liberals refused to fund them. They were cut off from federal funding simply because they would not claim to agree with the Prime Minister.



So, please, Mr. Prime Minister, stop wrapping yourself in the mantle of free speech. You have absolutely no right to do so.

http://edmontonsun.com/opinion/columnists/gunter-liberals-smack-of-hypocrisy-on-summer-jobs-grant-to-anti-pipeline-group">http://edmontonsun.com/opinion/columnis ... line-group">http://edmontonsun.com/opinion/columnists/gunter-liberals-smack-of-hypocrisy-on-summer-jobs-grant-to-anti-pipeline-group

[Anonymous]

Unfucking believable. Well, it's True Dope, so nobody should be surprised.

Opposition Leader Andrew Scheer revealed that Dogwood, an anti-pipeline activist group in B.C., was receiving funding from the Canada Summer Jobs program to hire a temporary employee "to help ... stop the Kinder Morgan pipeline and tanker project."



After Scheer had asked the P.M. why his government was "taking tax dollars from people who are out of work in the energy sector and giving it to people who are trying to block a project in the national interest," Trudeau retorted "Unlike, apparently, the leader of the official Opposition, we believe in free speech."



Are you kidding me?



Seriously. Politicians wave the free-speech flag around all the time. But it is so brassy for the Liberals to wave it concerning the federal summer jobs program that it makes your eyes pop open. What!?



The very last project over which the Liberal government has any right to claim a respect for free speech is Canada Summer Jobs – the very last.



More than 1,600 organizations across the country this year will have to go without federal funds for hiring students because they declined to swear an oath to obey Liberal policy on abortion-on-demand.



Day camps are being cancelled, church camps, sporting events, workshops and social programs, too, by the hundreds, because organizers could not, in good conscience, sign an "attestation" demanded by the Trudeau government promising to support the Liberals' position on, among other things, abortion.



It's not even as though the groups who refused to sign the attestation are working actively against abortion, the way Dogwood is working very actively to stop Kinder Morgan. The vast majority of the jobs they wanted funded had absolutely nothing to do pro-life advocacy.



And still the Liberals refused to fund them. They were cut off from federal funding simply because they would not claim to agree with the Prime Minister.



So, please, Mr. Prime Minister, stop wrapping yourself in the mantle of free speech. You have absolutely no right to do so.

http://edmontonsun.com/opinion/columnists/gunter-liberals-smack-of-hypocrisy-on-summer-jobs-grant-to-anti-pipeline-group">http://edmontonsun.com/opinion/columnis ... line-group">http://edmontonsun.com/opinion/columnists/gunter-liberals-smack-of-hypocrisy-on-summer-jobs-grant-to-anti-pipeline-group

Besides the double standard, why would anyone give our money to an org that wants our multi billion dollar investment to fail.

[Anonymous]

Alberta will indemnify the project up to two billion dollars..



And has been posted here, it still might not be built.

[Berry Sweet]

Something tells me that your fuel costs, that were already outrageous, will get even higher when the government owns the pipeline...

That's what I was thinking.  Canada always screws it's own citizens.  Most likely they will Jack up the cost in Canada and sell it for cheap elsewhere...its the Canadian way....svrewing their citizens up the ass day by day.  Completely expected.

[Anonymous]

Something tells me that your fuel costs, that were already outrageous, will get even higher when the government owns the pipeline...

That's what I was thinking.  Canada always screws it's own citizens.  Most likely they will Jack up the cost in Canada and sell it for cheap elsewhere...its the Canadian way....svrewing their citizens up the ass day by day.  Completely expected.

It would have been much better and cheaper if Kinder Morgan had built it, but Ottawa didn't want to enforce the law.

[Berry Sweet]

Something tells me that your fuel costs, that were already outrageous, will get even higher when the governmewns the pipeline...

That's what I was thinking.  Canada always screws it's own citizens.  Most likely they will Jack up the cost in Canada and sell it for cheap elsewhere...its the Canadian way....svrewing their citizens up the ass day by day.  Completely expected.

It would have been much better and cheaper if Kinder Morgan had built it, but Ottawa didn't want to enforce the law.

JT is a poor excuse of a PM.  Canada does nothing to protect its citizens...the laws are pathetic..the justice system even more so.  You have more rights if you are a criminal or do something illegal.