Canada optimism over pipeline interest may be misplaced

Canada optimism over pipeline interest may be misplaced

Canada optimism over pipeline interest may be misplaced

"Nothing the Finance Minister said today will ensure that the Trans Mountain Expansion actually gets built. So, how long will these funds come from taxpayers?" Finally, Morgan Stanley reduced their price target on shares of Kinder Morgan from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, February 9th.

Wall has been a vocal critic of the federal government's position on Kinder Morgan in the past, calling their stance "weak".

The Trans Mountain line expansion would add to the existing 1953-originated pipeline, twinning the system to increase product transportation and reach increased global markets.

"By talking about it as a commercial project, and by talking about the fact we could find a way to indemnify and charge for that indemnification, we don't expect that there would be any costs to Canada", Mr. Morneau said.

"If it's an opportunity that has decent returns, then we'll look at it", CPPIB CEO Mark Machin said later to the news agency, adding that the federal government's indemnity pledge against political risk was helpful.

"Where was that stance with B.C.?"

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David Mivasair (far right) at a protest at the Westridge Marine Terminal in Burnaby, B.C. on November 30, 2017.

But Kinder Morgan, the USA -based company that is behind the project, has halted work due to the uncertainty surrounding the expansion.

"We believe that what Premier Horgan has done is unconstitutional".

But Horgan shot back in a statement, saying Ottawa was rushing a matter that was now being decided in court.

"We are disappointed that the Government of Alberta has rejected our proposal to refer their legislation to the courts", he said.

Kinder Morgan Canada has said it will ditch the Trans Mountain expansion by May 31 unless Ottawa dispels the uncertainties over the project, which the provincial government in British Columbia strongly opposes on environmental grounds.

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"Prime Minister Trudeau failed Canadian workers and our energy sector as a whole when he vetoed the approved Northern Gateway pipeline and when he killed the Energy East pipeline with last minute rule changes and a regulatory standard that doesn't apply to any other sector of the Canadian economy". Kinder Morgan reported sales of $3.37 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%.

This week in a Calgary newspaper column by Rick Bell, the UCP leader, obviously frustrated by the Trudeau government's slow pace on the pipeline issue, ripped into the Prime Minister for continuing to allow B.C to block the project.

"If they think this work is going to go ahead, we are going to have to start that up again", said Mivasair. Two governments from now, who knows what they would do with it?

The project would see a twinning of the existing pipeline, increasing its capacity to 890,000 barrels of diluted bitumen a day.

Separately, the fight between the Alberta and B.C. governments over the Trans Mountain expansion is expected to end up in Alberta's courts.

However, the project faces significant opposition, including legal challenges from some B.C. communities and First Nations who say an expanded oil pipeline would bring unacceptable risks to the coastline and push Canada's climate goals out of reach.

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