N.L. premier pleased Ottawa buying Kinder Morgan pipeline

31 May, 2018, 19:33 | Author: Tara Reeves
  • N.L. premier pleased Ottawa buying Kinder Morgan pipeline

The purchase includes the pipeline, pumping stations, and rights of way along the route. Ottawa would provide a federal loan guarantee to the company in the meantime.

After Morneau went public with the option to cover cost overruns May 17, Kinder Morgan CEO Steve Kean said the company and the government were not yet "in alignment" and the negotiations would not take place in public. He calls the move a "devastating blow" to energy investment in Canada.

The deal is expected to close by mid-November.

The federal Liberals have made a decision to buy the pipeline and all of Kinder Morgan Canada's core assets, but don't plan to be long-term owners.

Energy East would have been a job-creation bonanza, expected to create nearly 3,720 jobs during the construction phase and 97 permanent jobs once the pipeline was built.

Morneau clarified that the government does not intend to be the long-term owner and therefore would negotiate with investors - who would be aboriginal groups or owners of pension funds - to sell them the pipeline, whose expansion was estimated would mean an outlay of about 7.4 billion dollars. While the government's takeover of the project has reassured its backers that it will be built, with construction starting in August, it also raises the stakes for Ottawa. "The lack of leadership on this issue is now fully evident".

"Only Liberals would dump $4.5 billion on a 65-year-old pipeline and call that an energy strategy".

Finance minister Bill Morneau said nationalisation of the pipeline was the only way to ensure that a planned expansion could go ahead.

"I'm concerned that there could be catastrophic consequences of a diluted bitumen spell, regardless of the owner of the pipeline", Horgan said in a press conference Tuesday morning.

Italian president asks economist Carlo Cottarelli to form interim government
League leader Matteo Salvini , who is surging in opinion polls, seemed cool on the idea but did not rule it out. The FTSE 100 edged up 0.12 per cent in morning trading, while the FTSE 250 was up 0.14 per cent.

"I said to the prime minister that ownership of the project doesn't change my concerns", Horgan told CBC Radio.

Ross said Tuesday that she harbours doubts about the pipeline's economic viability, and anxious that the federal government would be on the hook for huge cleanup costs in case of a major spill. "The government responded and that's their business". This decision stands to be the defining moment of his time as prime minister.

The province's opposition led Kinder Morgan to suspend nonessential spending on Trans Mountain last month.

Make no mistake: Justin Trudeau has bet the farm, or at least the fate of his government, on making sure the Trans Mountain pipeline from Alberta to the coast of British Columbia gets built.

Prior to Tuesday's announcement, the Council of Canadians Victoria chapter announced it would be holding a protest on Thursday, May 31, against the pipeline expansion.

I hope @JustinTrudeau knows that this decision is going to haunt him everywhere he travels in the world.

Pipeline proponents are jubilant, among them Alberta Premier Rachel Notley, who said in Edmonton there is now more certainty around the project than ever before.

Will George, a member of the Tsleil-Waututh Nation who is leading the protests organized by Protect the Inlet (the watch house) on Burnaby mountain, says his groups' resistance will continue.



Lebron takes Cavaliers to 4th NBA Finals in a row
Replace James with another superstar and it is very possible, perhaps even likely that Boston would have won this battle. You never look forward to facing LeBron but you definitely fear him in a close game as the clock is melting away.

Papua New Guinea to ban Facebook for a month, official says
Citizens of Papua New Guinea are about to get a month-long digital detox from Facebook - whether they like it or not. An investigation was being considered as a way to analyse whether there was a positive impact on the people of PNG.

Andrew Lincoln Is Leaving The Walking Dead After Season 9
For now, all that's left to do is wait and see what kind of terrible end the show might have in store for Rick Grime . In the comics , Carl's story keeps evolving, and he has the most potential for growth in the book.

Roseanne Barr Breaks Silence On ‘Roseanne’ Cancellation: ‘Don’t Feel Sorry For Me’
I feel so empowered by @iamwandasykes, Channing Dungey and anyone at ABC standing up for morals and abuse of power. In a second statement she said: "Today my words caused hundreds of hardworking people to lose their jobs".

Xiaomi Mi Band 3 Launching with Mi 8 on 31 May
Meanwhile, the company had recently launched its first products under its "Mi Crowdfunding" platform in India. With the omission of the 3.5mm headphone jack, you'll likely get a USB-C to AUX adapter included in the box.

BMO and CIBC's Simplii Financial investigating customer data hack
MobileSyrup has reached out to BMO and the Office of the Privacy Commissioner of Canada for more information. BMO said the breach originated outside Canada, and that the fraudsters themselves tipped off the bank.

Serena Williams claims first major post-baby win in black catsuit
She admitted the suit also had some functionality to it, after she suffered through blood clots after Olympia's birth. Third-seeded Marin Cilic kicked off his tournament with a straight-set win over James Duckworth of Australia.

UFC Liverpool - Darren Till misses weight but Stephen Thompson clash goes ahead
Give it to him. "As I've said, I'm a big guy for the weight class and I've got to get it more under control". Obviously Usman is a possibility, since he's been on a ridiculous run and is ranked #5.

Egyptian Lawyer Sues Ramos 1.2 Billion Dollars Over Salah Injury
Before that, Egypt will play friendlies, nearly certainly without Salah, against Belgium and Colombia on June 1 and June 6. I told him he couldn't do anything about it now and that he should not worry.

Stanley Cup fever: Vegas ditches capital letters on Twitter
Wilson delivered a blindside hit on Jonathan Marchessault with the puck nowhere near the Vegas centre in the immediate aftermath. Generally speaking, both teams were fairly sloppy, which contributed to the 10-goal output.