May 23, 2018

Kinder Morgan Canada's quarterly profit down 5 pct on lower transported volumes

19 April 2018, 06:02 | Leigh Flowers

Kinder Morgan Canada (TSE:KML) Downgraded to Neutral at CIBC

Trudeau under fire as Trans Mountain pipeline opposition grows

The Trans Mountain Alberta-to-British Columbia project would twin an existing pipeline and increase its capacity from 300,000 barrels a day to 890,000 barrels a day.

Experts deem that if Alberta makes good on its oil & gas halt threat, the drivers in B.C. are most likely to see gasoline price soar and face shortage of crude and fuel.

Thousands of people march during a protest against the Kinder Morgan Trans Mountain Pipeline expansion in Vancouver on November 19, 2016.

"This process is about B.C.'s right under the Constitution to regulate against the deleterious impacts on the environment, on the economy, on the provincial interests - whether it's an inter-provincial project or a provincial project", Eby told reporters at the B.C. Legislature on Wednesday.

Prime Minister Justin Trudeau with B.C. Premier John Horgan, left, and Alberta Premier Rachel Notley before a meeting Sunday in Ottawa on the deadlock over Kinder Morgan's Trans Mountain pipeline expansion.

Before April 30, the reference case will first need to be approved by cabinet.

More recently, activists have been arrested for blocking construction on oil transport terminals in BC and thousands have protested against the pipeline. Almost the same amount of people say the economic benefits of the pipeline outweigh or far outweigh the environmental risks (35 per cent) as those who say the opposite (34 per cent). The company announced it would be halting non essential spending on its operations until May 31st.

The company said it would consult stakeholders and come to a decision by May 31.

"Alberta introduced legislation that looks a lot like punishment to me", she said, noting the loss of oil jobs in Burnaby over the last few years. It's a case that hopes to answer the constitutional question that's at the root of the current Alberta and B.C. pipeline deadlock. "As our prime minister has said, this pipeline will be built", Carr said.

Trudeau declined to discuss the specifics of Ottawa's proposed financial buy-in, saying only that the feds "have engaged in financial discussions with the Kinder Morgan".

"This land was given to us by our ancestors and it is our responsibility as elected leaders to protect that land for our children and their children", said Khelsilem, a spokesperson for the Squamish Nation Council in BC, on Monday.

"We had a discussion about options; the federal government laid out their plans over the next number of days. and we had a discussion about what role British Columbia could continue to play to protecting and defending our coast".

"Despite the fact the premier is taking a very combative attitude, I'm not going to embargo Burnaby (products) from going back to Alberta, but it is a reality that this so-called trade war does nothing for Canadian unity", he said.

So far, the bill for Canada's decade-old pipeline/oilsands insurgency has been disproportionately borne by private companies and their shareholders.

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