Pipeline protesters bringing fight to Burnaby MP's doorstep

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Finance Minister Bill Morneau says the federal government's nationalization of the Trans Mountain pipeline project sends the message that Canada is a safe place to invest.

Other research analysts have also issued reports about the company. Canada has the world's third largest oil reserves but 99 percent of its exports now go to refiners in the US, where limits on pipeline and refinery capacity mean Canadian oil sells at a discount.

A group of people protested the Trans Mountain pipeline expansion project in Whistler on Saturday, June 2, 2018.

Presumably, the government will also relieve Kinder Morgan of its operations and maintenance expenses, which amounted to $216.5 million past year.

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Kinder Morgan had estimated the cost of building the expansion would be $7.4 billion, but Morneau insisted that the project would not have any impact on taxpayers.

"This is an investment", she said. "However, despite overall support for the project, residents are opposed to the federal government's decision to acquire the pipeline and its assets-including federal Liberal voters-leaving support for Trudeau waning as an outcome".

Following the announcement on Tuesday that sees construction on the Sherwood Park-based pipeline start back up within the coming few weeks, Sherwood Park-Fort Saskatchewan MP Garnett Genuis said the purchase plan is the wrong way to get the pipeline built. "We're seeking the ensure the project gets done, but we will always try and make sure the project presents a fair situation for Canadians", he said.

On the face of it, the federal government's purchase of Kinder Morgan Canada's pipeline assets is a good deal, especially for Kinder Morgan shareholders, including those in a much-derided Texas boardroom. The Pipelines segment operates Trans Mountain pipeline that transports approximately 300,000 barrels per day of crude oil and refined petroleum from Edmonton, Alberta to Burnaby, British Columbia; Puget Sound pipeline serving Washington State; and Jet Fuel pipeline serving Vancouver International Airport. "Our government is determined to defend British Columbia's interests within the rule of law and in the courts".

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The company planned to present affidavits from two private investigators who infiltrated a protest on May 25 and another affidavit from a Burnaby Mountie raising concerns about a drain on police resources after a change in protester tactics.

The investors who eventually buy the pipeline could include those groups, Doucet said, but he added the price, likely $10 billion to $12 billion after construction is complete, means some of the investors will need deep pockets.

Notley also rejected that using public funds to buy the pipeline was a waste. Some First Nations have legal challenges on consultation at the Federal Court of Appeal. "This kind of project belongs in the private sector, and it should never have left it".

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