Trudeau vows financial backing, legislation to save Trans Mountain pipeline

Trudeau vows financial backing, legislation to save Trans Mountain pipeline

Trudeau vows financial backing, legislation to save Trans Mountain pipeline

"I have instructed the minister of finance to initiate formal financial discussions with (Texas energy company) Kinder remove the uncertainty overhanging the Trans Mountain pipeline expansion", Mr Trudeau said Sunday.

"Today in the meeting, one of the things we discussed was the fact that the federal government, along with the Government of Alberta, has commenced discussions with Kinder Morgan to establish a financial relationship that will eliminate investor risk", Notley said.

Notley spoke after an emergency meeting with Prime Minister Justin Trudeau and the premier of British Columbia, who opposes plans to nearly triple the capacity of the Trans Mountain pipeline from oil-rich Alberta to the west coast.

- Legislative options - "We are actively pursuing legislative options that will assert, plus reinforce, the government of Canada's jurisdiction in this matter, which we know we clearly have", Mr Trudeau said.

He declined to give details on exactly what the ruling Liberals had in mind to end an impasse that is prompting investor unease and could threaten his political future.

The move has been the subject of a heated trade battle between B.C. and Alberta since January and has seen almost 200 people arrested for demonstrating at Kinder Morgan work sites in Burnaby.

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Speaking before the meeting, a federal government source said past examples of help included a bailout of the auto industry in 2009, federal loan guarantees for a hydro-electric project and Ottawa's investment in an offshore energy project.

"It was a useful meeting for all three of us, candid discussions but also a genuine sense of optimism and confidence in Canada", Horgan says, maintaining his objections to the major pipeline project. It's also sparked a dispute between the provinces of Alberta, which has the world's third-largest oil reserves, and British Columbia.

The lack of pipeline capacity means Canadian crude trades at a discount to the US oil benchmark.

Horgan said that the "federal government laid out their plans" in regards to moving the Trans Mountain pipeline expansion forward but deferred any questions on those plans to federal officials. About 200 people have been arrested near Kinder Morgan's marine terminal in Burnaby during recent protests.

Horgan said Trudeau made no threats to "punish" B.C. It has been suggested Ottawa could use financial pressure, like withholding transfer payments as a means to pressure back off.

"We are going to get the pipeline built". "My responsibility is to defend our coasts and to defend the interests of British Columbians, and I'll do that until I'm no longer the premier", he said.

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