Trans Mountain pipeline project purchase 'major step forward': Rachel Notley
Economy May 29, 2018 10:39 am Updated: May 29, 2018 11:51 am Trans Mountain pipeline project purchase âmajor step forwardâ: Rachel Notley
WATCH ABOVE: Alberta Premier Rachel Notley speaks to the media at 10 a.m. MT after the federal government announced a deal to buy the Trans Mountain pipeline project.
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Albertaâs premier calls the decision by the federal government to purchase the Trans Mountain Pipeline expansion project for $4.5 billion âa major step forward for all Canadians.â
Premier Rachel Notley included the comment in a tweet she posted shortly after the federal governmentâs announcement Tuesday morning.
READ MORE: Ottawa inks deal to buy Trans Mountain pipeline project for $4.5B
Her tweet also stated âthis project has more certainty than ever before. We wonât stop until the job is done!â Notley will speak further about the deal at 10 a.m. MT. You can watch the media availability live in this post.
Federal Finance Minister Bill Morneau said Kinder Morgan will move forward with its original plan to twin the pipeline this summer while the sa le is finalized, which likely wonât happen until August.
Once the sale is complete, Canada will continue the construction on its own, with a goal to sell the pipeline once market conditions will allow it to get the best price.
WATCH: Ottawa is buying Kinder Morganâs Trans Mountain Pipeline. The finance minister said construction could begin this week. Kendra Slugoski reports.
READ MORE: Edmonton Metro mayors pledge support for Trans Mountain pipeline expansion project
Albertaâs two big city mayors stood alongside the premier, praising the federal government for its decision.
Alberta Federation of Labour president Gil McGowan said heâs impressed with the federal government for âtaking decisive action.â
Export Development Canada w ill finance the purchase, which includes the pipeline, pumping stations and rights of way along the route between Edmonton and Vancouver, as well as the marine terminal in Burnaby, B.C., where oil is loaded onto tankers for export.
The Alberta government will provide funding for any unexpected costs that arise during construction.
READ MORE: NDP leader Jagmeet Singh sides with B.C. over Alberta in Trans Mountain dispute
There has been intense opposition towards the project from environmental groups and some Indigenous communities in B.C.
âPrime Minister Justin Trudeauâs government has just signed up to captain the Titanic of tar sands oil pipelines, putting it on a collision course with its commitments to Indigenous rights and the Paris climate agreement,â Greenpeace Canadaâs Mike Hudema said in a statement.
âTrudeau is gambling billions of Canadian taxpayer dollars on an oil project that will never be built.â
Hudema vowed the project will be cancelled despite the governmentâs purchase.
âTwo out of five proposed new tar sands pipelines have now been cancelled in the face of Indigenous and environmental legal challenges, widespread public opposition and changing economics,â he said.
âThe Trans Mountain expansion faces even steeper obstacles and will soon become the third, and Trudeau just put the public on the hook for the costs.â
Edmonton Riverbend MP Matt Jeneroux said while heâs been pushing the government âto assert their authority to get this pipeline built,â the deal has the potential to be âmired in bureaucracyâ and likely cost taxpayers much more than $4.5 billion.
âThis project is vitally important to Canadaâs economy. However, the governmentâs promise to fund the project to the tune of $4.5 billion in taxpayer money shows how poorly they mismanaged the file from the beginning,â Jener oux said.
âKinder Morgan, a private company, could have started on this pipeline much earlier, and without taxpayers being on the hook for the costs, if the government had recognized the importance of the Trans Mountain expansion project from the start.â
United Conservative Party leader Jason Kenney tweeted Tuesday morning that the UCP would comment about the announcement later Tuesday.
READ MORE: No suitors emerge for Trans Mountain pipeline stake as Kinder Morgan deadline looms
Canada approved the project in November 2016, following an expanded environmental review process that included additional consultations with Indigenous communities and assessing the amount of additional emissions likely to result from additional production.
Canada loses $15 billion every year on the sale of oil because the U.S. remains its only export customer, resulting in a lower price, Prime Minister Justin Trudeau argues. A lack of capacity in pipelines or in rail cars to ship oil produced in Alberta is also hurting Canadaâs energy sector.
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