New B.C. government would have a few tools to slow down construction of new oil export pipeline
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Kinder Morgan is signing contracts with construction companies and plans to start building its new $7.4-billion pipeline in September. At the same time, a new NDP-Green party partnership could form government in B.C. and start acting on election campaign promises to kill the project.
Both the company and the politicians made announcements on Tuesday making it clear they are not backing down in this fight.
First nation had rejected proposal earlier this year
May 23rd
There are no plans to construct an oil terminal anywhere on Tsawwassen First Nation lands, according to Chief Bryce Williams.
In an emailed statement, he said the first nation’s executive council had “immediately” rejected a “preliminary and unsolicited” proposal presented as a project that could potentially be backed by Chinese resource firm Sinoenergy earlier in 2017.
An NDP government in B.C. could stop the Ottawa-backed expansion of the Kinder Morgan pipeline expansion by bogging the controversial project down in the courts until it is too costly for the company or politically risky for the federal Liberal government, experts say.
Kinder Morgan Canada Ltd.’s shares tumbled in the company’s public debut as new risks threatened to stall a major pipeline expansion to Canada’s West Coast.
Houston-based Kinder Morgan, which aims to triple the capacity of its Trans Mountain pipeline, raised $1.75-billion in the biggest initial public offering in the energy sector in more than two years.
But shares in the company’s Canadian unit immediately fell on Tuesday as investors weighed possible impacts of a minority government led by British Columbia’s New Democratic Party on the $7.4-billion expansion.
May 30, 2017 — As Kinder Morgan looks to crowdfund its ill-conceived pipeline, the Wilderness Committee is launching a live map so British Columbians can stay up-to-date if the shovels ever do hit the dirt.
Four-day walk against Trans Mountain expansion finishes in Burnaby.
Several hundred people rallied at the gates of Kinder Morgan’s terminal in Burnaby on Sunday at the conclusion of four-day walk against fossil fuel expansion.
Some of the marchers, including federal Green Party Leader Elizabeth May, embarked on a full 75-km journey from Victoria, while others joined at various stops along the way.
Last January, an oil tanker filled with Canadian crude slipped beneath Vancouver’s Lions Gate bridge. It was headed for the Chinese port of Dalian, the first dispatched across the Pacific by a new company that was testing the waters on a much bolder plan.
U.S. Bank has become the first major bank in the U.S. to formally exclude gas and oil pipelines from their project financing. This groundbreaking change to their Environmental Responsibility Policy was publicly announced at the annual shareholders meeting in Nashville in April.