NDP Leader Jagmeet Singh is calling on the government to take the money it was planning to use to compensate Kinder Morgan investors in the proposed Trans Mountain pipeline expansion and instead invest in clean energy jobs.
Last week Finance Minister Bill Morneau said the government is willing to “provide indemnity” to any investors if “unnecessary delays” cause costs to rise.
“What we should be doing instead is using that fossil fuel subsidy, using the proposed money … to invest in clean energy jobs for today and the future,” said Singh Tuesday.
The Trudeau federal government has made itself a pathetic hostage to a Texas-based pipeline company known for its cheapness and debt.
The economic sleeziness of the drama, which should upset most Canadians, has been largely ignored by the financial mainstream press.
But here’s the rub: Kinder Morgan doesn’t have the money it needs to twin a high-risk $7.4 billion pipeline, and has been looking for a way out for some time.
There is growing consensus that the world is going through an energy transition. Everybody has heard politicians or CEOs of large energy companies making that statement.
'We are going to not allow Kinder Morgan to finish this pipeline,' says protester
More than 200 kilometres south of where the Kinder Morgan Trans Mountain pipeline expansion is slated to end, environmental groups in the U.S. took to the water in Seattle on Sunday to add their voices to ongoing opposition to the project.
While the roughly 1,200-kilometre pipeline won't cross into the U.S., protesters are concerned about an increase in oil tanker traffic, which would depart from the terminal in Burnaby, B.C., and navigate across the Salish Sea.
Shareholders at Kinder Morgan’s annual general meeting passed resolutions compelling the company to account for the risk that climate change poses to its business.
Finance Minister Bill Morneau said Wednesday he is prepared to protect the Trans Mountain oil pipeline expansion to the west coast against financial loss.
The Trudeau Liberals have been in discussions with Alberta as well as the proponent of Trans Mountain, Kinder Morgan, over an arrangement to use public money to back the pipeline. British Columbia NDP Premier John Horgan, however, has pledged to use all legal tools available to block its construction.
“It’s so rare for people outside the province of Alberta to see that there is opposition here,” said Emma Jackson, co-founder of Climate Justice Edmonton.
EDMONTON—Deep within oil country is a group of anti-pipeline activists who aren’t afraid to challenge Alberta’s reputation as an oil and gas bastion.
