Oil - Pipelines

Finance Minister Bill Morneau announced on May 29 that the Government of Canada will buy the existing Trans Mountain pipeline system from Kinder Morgan at a price of $4.5 billion.

[for original article https://ricochet.media/en/2221/kinder-morgan-will-be-trudeaus-waterloo ]

May 29, 2018

In the weeks and months ahead, there will be many political casualties of the Liberal government’s crisis surrounding the Kinder Morgan Trans Mountain Pipeline expansion. The first of these, however, was the carefully-crafted illusion that the Canada Pension Plan Investment Board’s (CPPIB) investment decisions are free from political influence. Over two decades, the Board had painstakingly constructed the pretence that Board decisions stood above retail politics.

May 28, 2018, interview

Three prominent Quebec-area Indigenous chiefs were among the hundreds of people who gathered in Montreal on Sunday to protest the Kinder Morgan pipeline expansion.

Assembly of First Nations regional Chief Ghislain Picard, Mohawk Chief Serge Simon and Innu Chief Jean-Charles Pietacho spoke out against the project, citing the need to show solidarity with First Nations and other groups in British Columbia who are fighting against it.

In fiscal year 2008, according to the “upstream development division” of B.C.’s Ministry of Energy, Mines and Petroleum Resources, British Columbians received $1.16 billion in royalty revenues. By 2017, however, revenues had fallen nearly 90 per cent to $147 million.

MAY 27, 2018