The Indigenous groups hand-delivered a letter to Alberta Premier Rachel Notley when she visited Fort McMurray on Thursday, saying the hope to become part owners of the project.
CALGARY -Analysts at CIBC have cut their target share price for Kinder Morgan Canada Ltd. and say its future is cloudy in the wake of its deal to sell its biggest current and growth asset - the Trans Mountain pipeline system - to the federal government. "The protesters are still there, the B.C. government hasn't stopped..."
If the government had reinforced federal authority for pipelines through the courts and in legislation as soon as B.C. NDP Leader John Horgan became premier previous year, Scheer said that would have prevented Horgan from introducing the uncertainty that ultimately led to Kinder Morgan's nervousness that the project would never come to fruition. The government was facing the proposition of Kinder Morgan walking away from the project all together, a development that would have been disastrous for the federal Liberals.More news: Apple's New iPhone Lineup Purportedly Revealed in New Schematics and Renders
Kinder Morgan has been steering efforts to triple the capacity of a pipeline to Canada's west coast amid bitter provincial divisions. "Our government is determined to defend British Columbia's interests within the rule of law and in the courts".
Numerous region's First Nations and Métis groups already own companies involved in the oilsands. The Constitution gives Ottawa jurisdiction over pipelines and many legal experts believe Horgan's regulation won't pass judicial scrutiny, but the company nevertheless halted non-essential spending on the project in early April and demanded Ottawa prove there was certainty to move forward by the end of this month.
Over 2,000 people attended an emergency rally on May 29, the same day that the Trudeau government announced they would purchase the pipeline after investors deemed it too risky.More news: Deja vu as Nadal crushes his friend Gasquet in Paris
The company also faced opposition from environmentalists and aboriginal groups who anxious about the pipeline spilling its tar-like heavy oil. As well, there are a number of cases before the court that could delay or jeopardize the project.
Now, Justin Trudeau has made a decision to use taxpayer money to buy the entire pipeline. "Maybe, because the federal government might have a ... different capital return threshold than a private entity might have". "And the way things are going, Ottawa might even have trouble finding a buyer for the pipeline down the road", said Moreau.
By allowing Trans-Mountain to happen, and by purchasing the project, the Liberals have angered environmentalists, and while many of them are clueless when it comes to economics and the energy sector, they are pretty good at chanting and drawing attention to themselves.More news: USA announces 25 pct tariff on Chinese goods