Markets

Notley responds to Ottawa's promise to compensate Kinder Morgan against political delays

Notley responds to Ottawa's promise to compensate Kinder Morgan against political delays

The pressure is being turned up in the standoff that has Alberta and B.C. premiers, the federal government, and some First Nations groups in B.C. fight over oil.

Morneau said the government is intervening because of the "exceptional" circumstances around the project. "We'll leave it to other Canadians to voice their concern about that expenditure of taxpayer money".

Jason Kenny, once known as "Mr Fix-it" as a cabinet minister in the previous federal Conservative government is now leader of the provincial United Conservative Party (UCP) in Alberta, which currently sits in the opposition.

"The indemnification would allow Kinder Morgan to finish what they started, what they received federal and B.C. approval to do", he said.

And Ottawa, he said, would in return earn a premium from Trans Mountain project backers for extending this insurance.

The $7.4-billion Trans Mountain project would expand the existing pipeline's capacity from 300,000 barrels per day to 890,000, according to Kinder Morgan.

For the record I support the prime minister in approving this project.

Mr. Eby contends that the legislation passed Wednesday evening in Alberta's legislature, created to inflict economic pain on British Columbia over the Kinder Morgan pipeline dispute, is unconstitutional. Finally, Morgan Stanley reduced their price target on shares of Kinder Morgan from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, February 9th. Trudeau says oil producers are losing C$15 billion ($11.7 billion) a year because pipeline bottlenecks mean they can not get crude to export markets.




"We think it's a bad project".

"Where was that stance with B.C.?" "There are fundamental challenges to that project, that he well knows".

"We are trying to ensure B.C.'s interests are protected, that our coast is protected, that products that are transported through B.C. are able to be done so in as safe a manner as possible and that if there is a spill, something nobody wants to see, that we're in a position to respond adequately and clean it up", he said.

"We believe that what Premier Horgan has done is unconstitutional". "The fact is, we've been issuing permits in a fair and timely manner, and have proposed new regulations that are now referred to court to confirm our jurisdiction".

"Albertans, British Columbians and all Canadians should understand that if the path forward for the pipeline through B.C.is not settled soon, I'm ready and prepared to turn off the taps". The Liberals still don't have a concrete plan of action to remove delays. "Instead of the private sector paying to build this pipeline, taxpayers will now be responsible for cleaning up Horgan's mess", he said in a statement. Bill Morneau says building the expansion is in the "best interest" of Canadians.

Horgan and Wilkinson were together in Chilliwack Wednesday visiting flooded communities.

Kinder Morgan Canada already operates the Trans Mountain pipeline and it is unclear whether it would welcome a rival taking over the expansion, or if it would make practical sense.

However, the company saw a boost in support on Wednesday, as more than 100 people gathered outside Kinder Morgan's annual general meeting in downtown Calgary to stand behind the Trans Mountain line.