Notley says province prepared to buy Trans Mountain pipeline outright
- Author: Zachary Reyes Apr 11, 2018,
Apr 11, 2018, 8:23
But if such taxpayer subsidies are rarer than reflexive energy critics assert, it turns out that Alberta Premier Rachel Notley and Alberta opposition leader Jason Kenney are about to give succor to the critics' accusations.
Speaking to reporters, B.C. Finance Minister Carole James said the government's job is to stand up for the province. One suspects $2.50 per litre for gasoline in greater Vancouver and almost similar prices elsewhere in British Columbia would focus minds and finally provoke a reaction, and perhaps a B.C. government retreat.
In an extreme situation, using an article in the criminal code, the government could deploy the Royal Canadian Mounted Police and troops to maintain a barrier between protestors and construction workers.
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The federal government can force the B.C. government to "back off" either through the courts, legislative changes or by "backstopping the financial risk" to Kinder Morgan investors, Notley told the CBC.
"We can not change the seasons in Canada, when we do certain work, and we need that clarity by May 31", Kean said on a conference call Monday. "But as of right now, what we're seeing is mostly rhetoric, not action, and that limits the federal government's options from a constitutional perspective". "We said in an election campaign a year ago this is what we would do". The rest of us should be disconsolate that Canada's ability to export oil to offshore markets may be blocked for a very long time, perhaps forever.
When pressed, Heyman said that timeline would be "certainly less than a month".
Alberta MLAs from all sides of the political divide spent Monday talking about repercussions for British Columbia over the increasingly bitter pipeline standoff, but took no concrete steps to do anything about it.
"Prevailing eventually is not enough to support an investment of this size and duration, especially at this critical moment".
Kinder Morgan has set a deadline of May 31st to find a political solution and assure the project goes ahead. And now the $7.4-billion Trans Mountain expansion is suspended.
Oh, the protests against the project and the resulting arrests were all very nice for the television news cameras and all that. The firm has a market cap of $33,466.04, a PE ratio of 22.88, a PEG ratio of 1.54 and a beta of 0.64. (TSX:SU) Fort Hills oil sands project.
Then came the full-on stake to the heart to the moribund patient: the federal government's proposed Impact Assessment Act, Bill C-69, brainchild of Catherine McKenna, minister of environment and climate change, and Jim Carr, minister of natural resources. They noted that the move was a valuation call.
"Opposition continues to grow as people learn of the devastating effects this pipeline expansion would have", Wilson said in a statement. Such an arrangement might see the government providing loan guarantees or actual equity stakes in the pipeline.
"It's been done before", said Trevor Tombe, associate professor at the University of Calgary's economics department.
"If they (MPs) don't get this one through, they will really have put on a lot on the line and have nothing to show for it", says Brian Lee Crowley with the Macdonald-Laurier Institute think tank, calling it a "no-win" situation.
It's not just growth in Alberta's oil sands that hinges on the Trans Mountain.
Trudeau's energy strategy essentially hinges on introducing a carbon price to make oil pipelines palatable.
Black said the issue has gone beyond the pipeline itself to a question of if Canada can follow the rule of law to get projects built.
These are the high stakes for Canada and a federal government that so far speaks loudly but carries a little stick, frightened, it seems, of alienating the environmentalists and First Nations communities it has wooed.
Grande Prairie - Mackenzie MP Chris Warkentin is urging the federal government to take more action when it comes to the Trans Mountain pipeline expansion. "This is unacceptable and ample evidence suggests that Mr. Trudeau and Ms. Notley's attempt to strong arm B.C. into rolling over for this project is because of politics, not evidence".
"The implications here are seismic", said BC Chamber of Commerce president Val Litwin.
"Canada's reputation is hanging on this project and the world is watching", Bilous says.