Canada to Buy Kinder Morgan Pipeline for $3.5 Billion

Canada to Buy Kinder Morgan Pipeline for $3.5 Billion

While there are many Canadians with mixed emotions about the federal government's $4.5-billion rescue purchase of the Trans Mountain pipeline, spare a thought for two particular groups: the hardcore protesters who spent hours making giant "Stop Kinder Morgan" signs, and the pro-pipeline Albertans convinced that Prime Minister Justin Trudeau secretly wanted to join haughty Quebeckers and hippies from Vancouver in screwing over the oil sands.

Once the sale is complete later this summer, Canada will continue construction on its own.

Kinder Morgan investors must still approve the sale, which is scheduled to close in August, but the deal will allow construction to resume immediately, the minister added.

"This is a great day for Canada, for our customers, for our employees", Kinder Morgan Canada CEO Steve Kean said on a morning conference call.

McMillan said if a pipeline that meets a high regulatory standard, has all the approvals, support from a majority of Canadians and the backing of the federal government can not get built, it sends a chilling signal that Canada is not open for business.

"Trudeau just dropped $4.5 billion of your money on a 65 year old pipeline that leaks".

"It creates effectively a toll, a user-pay, to be paid by the oil companies".

"Some felt this was in the bag, and that it would be not built after all, but sadly for them it has been made clear this thing is going to be built", Crey said.

"This is a project that will not have a fiscal impact". The purchase will see Canada buy the existing pipeline, the Westridge marine terminal in Burnaby, B.C., as well as pumping stations and rights of way along the routes.

Canada is buying a pipeline expansion project rather than risk it being derailed by protests and delays.

"One who not only respects the rule of law, but who understands the challenges you are up against and will work with you to find solutions that work for everyone".

Man Utd defender Eric Bailly offers support to Liverpool goalkeeper Loris Karius
If you go back years and you saw somebody crying on the pitch, they'd have had a whole load of stick for it. Keita will join Liverpool in July.

In a tweet, Premier Rachel Notley called the announcement "a major step forward for all Canadians". "At this point, we don't think that's necessary", she said Tuesday.

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

"Tens of thousands of B.C.jobs depend on pristine coastal and inland waters", said Horgan.

St. Louis-based Edward Jones senior analyst Jen Rowland said while the deal is a "slight positive" as it helps reduce balance sheet leverage and removes this significant project execution overhang, "the bad news is KMI's growth outlook is muted without" the Trans Mountain expansion project.

Kinder Morgan Canada, the unit that raised C$1.75 billion (US$1.3 billion) for the project in an initial public offering a year ago, declined to comment on the speculation.

"Now we're committed to building the expansion, but they have not announced at all how they are going to finance the expansion", said May.

AIMCo, as the Alberta fund is known, is supportive of measures to boost investor confidence and address market uncertainty, Denes Nemeth, a spokesman for the fund, said in an email, while declining to comment on whether AIMCo would be interested in investing in the project.

Because once he was elected in 2015, he was confronted by the fact our economy is losing $15 billion annually having to sell nearly all of our oil to the U.S.at a huge discount, since we have no way to get it to global markets.

Ottawa is pressing ahead, firmly of the opinion there is no doubt about its jurisdiction.

He said the failure of the proposed Northern Gateway pipeline to the West Coast and Energy East pipeline project to the East Coast means Canada remains highly dependent on the US market for exports.

Canada approved the project in November 2016, following an expanded environmental review process that included additional consultations with Indigenous communities and assessing the amount of additional emissions likely to result from additional production. And the anti-Trudeau Albertans must face the fact that Trudeau is willing to take a massive financial and political stake in a bitumen pipeline's success, and bringing along with it tax dollars of every Quebecker, British Columbian and all the rest of us. OMERS' infrastructure arm is invested in several pipeline assets, including the Czech Republic's NET4GAS sro, CLH Pipeline System in the United Kingdom and Spain, as well as the U.K.'s Scotia Gas Networks.

Related News:

  • Video game allows players to be school shooter

    Video game allows players to be school shooter

    So unless the developers take the game down, experts say it's really up to parents to keep it out to the hands of their kids. Any company that develops a game like this in wake of such a horrific tragedy should be ashamed of itself", he tweeted.
    Golden State, Cleveland NBA Finals History

    Golden State, Cleveland NBA Finals History

    The Cavaliers have been waiting since Sunday to find out which team they would play for the championship: Houston or Golden State. In the early numbers that's up 7% over last year's Game 1 between the winning Pittsburgh Penguins and the Nashville Predators.
    Lewis Hamilton demands new format for Monaco Grand Prix

    Lewis Hamilton demands new format for Monaco Grand Prix

    But Ricciardo is still looking beyond Red Bull despite his Monaco win, downplaying team's championship credentials this season. Max Verstappen has the fastest lap time this season so far with 1min14.260 which he obtained in Monaco on Sunday.
  • France emerge winners of World Cup 2018 in EA Sports simulation

    France emerge winners of World Cup 2018 in EA Sports simulation

    The 27-year-winger scored five goals during the qualification and now is an indispensable player in the national team. For full details regarding the new World Cup mode, you can visit its official page on the EA Sports website .
    'OMG this is WRONG': Retired teacher corrects letter signed by Trump

    'OMG this is WRONG': Retired teacher corrects letter signed by Trump

    So when she received the letter in the mail, she pulled out her go-to purple pen and started making corrections. Mason's comments also draw attention to redundant expressions and overuse of the pronoun "I" in Trump's letter.
    HSR, mega projects must go to reduce debt

    HSR, mega projects must go to reduce debt

    Dr Mahathir said the Pakatan Harapan government will review the anti-fake news law while campaigning at the last elections. The HSR is a 350-km railway scheme linking Kuala Lumpur and Singapore and is expected to start operations from 2026.
  • MLB says Rizzo’s slide not dirty, it was illegal

    MLB says Rizzo’s slide not dirty, it was illegal

    The slide caused Diaz to throw a potential double-play ball into right field, allowing two Cubs runs to score. Diaz lay on the ground in pain for several moments after the collision, but ultimately remained in the game.
    ABC cancels Roseanne reboot after star's racist tweet

    ABC cancels Roseanne reboot after star's racist tweet

    In another string of tweets, Barr connected Chelsea Clinton, daughter of Bill and Hillary, to Democratic donor George Soros. ABC Entertainment president Channing Dungey said the network has made a decision to cancel the " Roseanne " reboot Tuesday.
    Economics - Luxembourg firm to buy United Kingdom  sandwich chain Pret A Manger

    Economics - Luxembourg firm to buy United Kingdom sandwich chain Pret A Manger

    JAB also has controlling stakes in Krispy Kreme Doughnuts, Keurig Green Mountain, Peet's Coffee & Tea, Caribou Coffee Co. Pret Chief Executive Officer Clive Schlee said 2017 was Pret's ninth consecutive year of like-for-like sales growth.
  • Steve Kerr calls NFL's new national anthem policy 'idiotic'

    Steve Kerr calls NFL's new national anthem policy 'idiotic'

    A Harvard University professor argues that the NFL's decision to ban kneeling by players during the National Anthem is illegal. Commissioner Roger Goodell confirmed that players could stay in the locker room for the anthem but protests would be fined.
    Giuliani Strikes Out On 74th Birthday By Being Booed At Yankees Game

    Giuliani Strikes Out On 74th Birthday By Being Booed At Yankees Game

    The Yankees were turning in a tepid Memorial Day performance, losing to the Houston Astros 5-1 in the 9th inning. Rudy Giuliani hit a foul ball with fellow Yankees fans Monday when the team wished him a happy birthday.
    Apple releases iOS 11.4 - All the details

    Apple releases iOS 11.4 - All the details

    iOS 11 .4 includes AirPlay 2 multi-room audio, support for HomePod stereo pairs, and Messages in iCloud . Messages in iCloud stores all iMessages in Apple's cloud storage rather than on each individual device.


Most liked

Pause In Palestinian Rocket Attacks, Israeli Airstrikes, Amid Unofficial Cease-Fire
Schools opened as usual in Israeli towns near the frontier where rocket warning sirens sounded frequently on Tuesday. The furore began after IDF soldiers shot and killed 62 protesters on Monday, and injured more than 2,000.

Belgian gunman 'hunted down' and killed two policewomen
In that attack a former convict armed with grenades and an automatic rifle killed six people and wounded more than 120. Despite this, Belgium's crisis center said it saw no reason to raise the country's terror threat alert for now.

Ramos reacts to criticism after injury to Salah
An error from Green at the 2010 World Cup saw saw him fumble a tame shot against the US in a 1-1 draw. I don't like that part of the sport but it's part of the sport and things like this can happen.

Priyanka Chopra and Nick Jonas spark romance rumours
Bollywood star Priyanka Chopra has always stayed tight-lipped about her relationship status. And as odd as it sounds but we couldn't have planned it.

Four possible paths for Marcus Smart's free agency
Green is expected to exercise his 2018 player option to become an unrestricted free agent this summer. Boston will be one of, if not the favorite to win the Eastern Conference next season.

Tesla driver using Autopilot mode hits police auto
Cota also said that a year ago, there had been another incident involving a Tesla colliding with a semi-truck in the same area. Tesla has said the function is not created to avoid a collision and warns drivers not to rely on it entirely.

'Deadliest Catch' star Blake Painter dead at 38
Painter was captain of the F/V Maverick on seasons one and two of Deadliest Catch before leaving the show during season three. Deadliest Catch captain Blake Painter has been found dead at his home in Oregon, Clatsop Country Sheriff's Office confirms.

Messi hat-trick inspires Agentina in rout
It won't be easy, but we have the best player in the history of football and we'll do everything possible to achieve it.

Study estimates higher death toll in Puerto Rico post-Maria
Researchers found the official death toll is a "substantial underestimate of the true burden of mortality after Hurricane Maria ". A number of organizations have sued for access to Puerto Rico's death certificates.

Pokemon Let's Go Will Feature One Brand New Pokemon
The games are spiritual successors to Pokemon Yellow, the Game Boy title from 1998, with a dash of Pokemon Go thrown in. We will keep you updated on the matter as soon as possible, so stay tuned for all the latest news.

White House puts $50 billion worth of tariffs on China
Speaking on Fox News on May 20, Treasury secretary Steven Mnuchin confirmed: "We're putting the trade war on hold ". The decision comes after top administration officials have tried to dampen fears of a trade war.

Trump accuses Mueller team of 'meddling' in midterm elections without proof
Ex-Trump aide Sam Nunberg candidly pointed out the cycle of conspiracy theories peddled by Trump and the few outlets he likes. Trump tweeted early Tuesday, hitting the team with the same accusation leveled at the Russians in the 2016 race.

Bethesda Studios May Have Teased A New ‘Fallout’ Game On Twitter
Looking at the recent history of the Fallout franchise, Fallout 3 was followed by Fallout : New Vegas then Fallout 4 came next. The color could be a clue saying Bethesda is putting a new coat of paint on an old game.

Andrew Lincoln leaving the show after season 9
In fact, Rick's son Carl (Chandler Riggs ) just died after being bitten by a walker, leaving Rick as a grieving father. The loss of Lincoln's Grimes would be another radical departure for the show from its comic source material.

Alberto makes landfall while local forecast becomes hotter/drier
Warnings about storm surges and high surf were aired along the coast on either side of Apalachicola on Monday . Mississippi, Florida and Alabama have declared states of emergency ahead of the storm's arrival.