Morneau tells Calgary audience Ottawa's ownership of Trans Mountain is temporary

Morneau tells Calgary audience Ottawa's ownership of Trans Mountain is temporary

Morneau tells Calgary audience Ottawa's ownership of Trans Mountain is temporary

He said nationalisation of the pipeline provided the federal jurisdiction needed to overcome British Columbia's opposition, but did not explain how it could force the province to allow construction.

The announcement was made by Canada's finance minister, Bill Morneau, who called the proposed purchase "an investment in Canada's future".

"This move sets a bad precedent and signals to other prospective investors that large projects such as pipelines can not be built by private industry in Canada", said Aaron Wudrick, federal director of the Canadian Taxpayers Federation.

We need to get back to that formula, for the sake of Canadians. He insists there is no contradiction between fighting for the environment and defending Canada's oil industry and the economic benefits it brings.

Over the weekend, an oil spill at a pump station near Barriere, B.C., forced Kinder Morgan to temporarily shut down the existing Trans Mountain pipeline.

A project delay or cancellation would've had US complications as well because some of the 300 million barrels of oil per day traveling through the existing Trans Mountain network feeds refineries in Washington state.

That sentiment was similar to what Moe said Tuesday in response to the federal government buying the pipeline.

"At the end of the conversation, he told me, 'I am going to get my Finance Minister to give you a call and what's going to happen is he is going to work really hard to get this thing done because that's what I said would happen".

During his speech he said that the first goal is clear; to make sure the Trans Mountain pipeline is completed. "[But] it's also highly risky because now the government bears the risk".

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Braun, said last month that delays in getting the pipeline built were threatening the provincial economy, said he was happy with the move and that it is a step to "restore confidence in our country as a place to invest".

But just because the federal government stepped in to buy the Kinder Morgan Assets doesn't mean a cheque for Muskrat Falls is going to come from Ottawa anytime soon, according to Ball. He said that the pipeline had "significant commercial value" and that the government intends to sell it to private investors over time.

Trudeau argues the project went through several approvals, including an expanded environmental approval process that did more consultation with Indigenous communities and looked at additional environmental risks, including the effect on emissions of producing more oil to flow through the pipeline.

She also accused Trudeau's government of writing a "blank cheque" for the pipeline's construction costs, which Kinder Morgan has previously pegged at $7.4 billion.

There is a long history of state involvement in large Canadian business enterprises.

Many demonstrators are outraged with people calling the decision to use tax payer money to save the project 'ridiculous, ' reported News 1130.

And that is one critical similarity between Trans Mountain and the Alaska Highway project - both ended up being run by politicians and bureaucrats - i.e.by people who know comparatively little about building pipelines.

For Alberta, the expansion of the Trans Mountain line to Vancouver is crucial to open up new markets for the province's oilsands crude and achieve better pricing.

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