Pipeline Politics: Kinder Morgan's Losses Could Be Covered by Liberals

Taxpayers shouldn't have to pay for Prime Minister Trudeau's failure, say Conservatives

Taxpayers shouldn't have to pay for Prime Minister Trudeau's failure, say Conservatives

If anything, it could open the federal government to more provincial litigation. "Mr. Morneau will do what he wants to do".

I speak for many voters when I say that I will not pay to bail out Kinder Morgan's unviable and floundering Trans Mountain pipeline expansion project.

On Thursday in Toronto, the Finance Minister, who has yet to fully explain how an indemnity would work, said Canadians should think of it like insurance.

US companies are likely more focused on easing pipeline bottlenecks south of the border and are not interested in taking on the Trans Mountain project, which still faces fierce opposition, the source said. "We do know that in order to make sure that we have that path, we need to deal with the extraordinary risks that have been presented by Premier Horgan".

"We actually think this is a project that can be done on commercial terms and we're trying to find a way that ensures that happens".

If outside investors shy away, the obvious option would be for the federal government to look at taking a stake in the expansion or buying it outright.

"Prime Minister Trudeau failed Canadian workers and our energy sector as a whole when he vetoed the approved Northern Gateway pipeline and when he killed the Energy East pipeline with last minute rule changes and a regulatory standard that doesn't apply to any other sector of the Canadian economy".

Moe says without better market access Saskatchewan may not be able to continue contributing to equalization. Kinder Morgan reported sales of $3.37 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%.

"While discussions are ongoing, we are not yet in alignment and will not negotiate in public", Kean said. Credit Suisse Group initiated coverage on shares of Kinder Morgan in a research report on Thursday, January 4th.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, April 18th.

Entitled "Preserving Canada's Economic Prosperity Act" and officially known as Bill 12, the government said the goal of the bill is meant to give the province the power it needs to to restrict the export of crude oil, natural gas and refined fuels into BC.

The province has sought to stop the project in court, first by joining a challenge launched by First Nations, then by putting a reference question to the B.C. Court of Appeal on the legality of proposed legislation that would allow it to restrict the movement of a substance that arrives from another province via pipeline or rail.

Ottawa's pledge to commit money to the controversial $7.4 billion pipeline project came a month after the proponent, Texas-based Kinder Morgan, announced it would halt all non-essential spending on the project in light of the uncertainty caused by British Columbia's opposition to the project.

"If they refuse to do that we'll take them to court and we'll challenge the constitutionality of their bill", Eby told reporters.

Alberta Premier Rachel Notely reiterated she is prepared to "turn off the taps" of supplying oil to British Columbia if the dispute isn't settled soon. "It's really a message to Alberta that it should be referred to the courts as we referred our bill to the courts".

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