• News
  • Finance

Morneau Takes Dig At Scheer’s Business Experience During Trans Mountain Tiff

Morneau Takes Dig At Scheer’s Business Experience During Trans Mountain Tiff

Discussing the plan on Tuesday, Finance Minister Bill Morneau said the government acted to remove political uncertainty and ensure the project goes forward as the summer construction season nears. 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.

As the Liberals try to make a government guarantee on the project, "this is taking a bad idea and turning it into a worse idea", West says.

But British Columbia's social democratic government recently joined environmental activists' fight against the pipeline, provoking a trade row with Alberta and leading Kinder Morgan to temporarily halt its construction until the dispute was resolved.

Today's deal is expected to be finalized in late August or early September. "Canada will work with investors to transfer the project, and related assets, to a new owner or owners in a way that ensures that the project's construction and operation will proceed in a manner that protects the public interest", he said. In order to expand deliveries from the tar sands area, there was an attempt to build the Keystone XL pipeline, but the Obama administration killed that by denying a permit for the pipeline to cross the border.

Elizabeth May, the leader of Canada's Green Party, characterized the project as much more than a pipeline.

But even if the Keystone XL pipeline is built, Canada is still selling 99% of its oil to refineries in the US and that narrow market means they now get far less per barrel than they would if they had access to an alternative market. "The lack of leadership on this issue is now fully evident". "Horgan and the NDP will continue to play politics with British Columbia's future, and this time it will cost us billions".

Regardless of who owns the pipeline, Moe says he hopes concerns out of British Columbia will be addressed.

That said, if it takes federal ownership to construct a project that Kinder Morgan was unable to do, that may be sign of a broader failure in Canada - not a win.




Horgan spoke about the call as well, during a press conference on Tuesday morning.

Horgan was adamant that his government should not shoulder any blame for the cost taxpayers may or may not incur. "We've been waiting to see from this federal government an unequivocal signaling that they support and prioritize the access to tidewater for Western Canadian oil, so we can start getting a better price for it for Canadians who own the resource".

"The federal government have overpaid for an aging asset that has huge integrity problems".

Last month, about 200 protesters opposing the expansion were arrested for breaking a court injunction barring them from entering within five metres (16ft) of two Kinder Morgan terminals in Burnaby, BC.

The $7.4 billion expansion is in addition to spending the $4.5 billion "to be at square one", said May.

The project will duplicate an existing 1,150km pipeline, allowing it to ship up to 890,000 barrels of oil a day from landlocked Alberta to the Pacific coast of neighbouring British Columbia, in western Canada, for export overseas.

The Council of Canadians, meanwhile, attacked Ottawa's purchase as a "Big Oil bailout" that would not remove obstacles to the pipeline expansion. On the heels of Trudeau's announcement, the Vancouver-based Indigenous rights group Coast Protectors scheduled a rally for Tuesday evening to "say no to Trudeau's pipeline buy out".

"The cost that they did not calculate in their $4.5 billion purchase is that Indigenous frontlines will stop this pipeline".

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

Green to start in place of hurt Love in Game 7

Love missed the majority of Cleveland's 2015 run to the Finals after separating his shoulder in the first round against Boston. James looked rattled midway through the fourth quarter when he clashed with teammate Nance Jr, who collided with James' knee.

Northern Ireland under pressure after historic abortion vote

Facebook has admitted that Russian groups bought ads on its service in an effort to influence the 2016 USA presidential election. Varadkar's government now plans to quickly draw up legislation allowing abortions in the first 12 weeks of pregnancy.

US tariff threat hits European automakers' stocks

President Trump used the same provision of US trade law in March when he called for tariffs on foreign-made steel and aluminum. Any imposed tariffs would nearly certainly stunt demand for those imported vehicles.

Trump heralds United States military in Naval Academy commencement address

The president promised to shake the hands of every Naval Academy graduate following his speech. Before traveling to Annapolis Friday morning to speak at the commencement ceremony for the U.S.

Trinamool looks to sweep Bengal Panchayat polls, BJP in second spot

In North 24 Parganas , the ruling party won 32 seats leaving one for the Left and in Hooghly district it won 21 out of 27 seats. According to reports, activists of TMC have allegedly indulged in stamping ballot papers even on results day.

Chrissy Teigen gives birth to a baby boy

Chrissy Teigen went to Twitter to announce the happy news. " Somebody's herrrrrrre! " she tweeted along with baby bottle emojis. And Chrissy had previously admitted her second pregnancy has been a lot harder than the first time around.

Michigan State and Nassar victims reach $US500M settlement

He built an worldwide reputation while working at the same time for USA Gymnastics, which trains Olympians. Nassar is now being held in federal jail and will likely remain there for the rest of his life.

US sanctions Iran central bank governor for terrorist support

President Donald Trump announced that the United States was pulling out of the nuclear deal between Tehran and world powers. Treasury Department also issued economic sanctions against another top official, in addition to Seif.

Malaysia bars scandal-ridden ex-leader from leaving country

In his earlier statement on social media, Najib said he was committed to "facilitating a smooth transfer of power". They were used to buy support for (former prime minister) Datuk Seri Najib Tun Razak.

Taliban launch huge assault on western Afghan city

Earlier in May, Taliban fighters attacked Afghan bases in the province, killing more than 40 police officers and servicemen. But the defence ministry said the army had repulsed the attack, and "the security forces are now chasing the enemy".