Questions over the viability of the Kinder Morgan pipeline expansion are the same today as they were yesterday B次元官网网址� whether itB次元官网网址檚 a private company or a new Crown corporation running it, says federal Green Party Leader Elizabeth May.
RELATED: .
Speaking to Black Press from Ottawa, May called into question the deal announced this morning for the federal government to buy the existing Trans Mountain pipeline and associated infrastructure from Kinder Morgan this summer for $4.5 billion, unless another industry buyer steps up. May agreed that the proposed purchase would nationalize the existing pipeline and possibly cost taxpayers billions more if Ottawa moves to pay for the building of the twin line already started by Kinder Morgan.
Kinder Morgan laughing all the way to the bank. KM gets $4.5billion and walks away. Canada to raise money to build $7.4 billion project.
B次元官网网址� Elizabeth May (@ElizabethMay)
The deal was announced days before Kinder MorganB次元官网网址檚 May 31 deadline on whether they would proceed with the project and May said the company played their hand very well.
B次元官网网址淭hey kidnapped their own project,B次元官网网址� she said, B次元官网网址渉eld it for ransom and said by the end of the month theyB次元官网网址檇 shoot the hostage.B次元官网网址�
May added Kinder Morgan bought the existing pipeline from Trans Mountain in 2007 for approximately $550 million.
No. It is not commercially viable. Huge boondoggle.
B次元官网网址� Elizabeth May (@ElizabethMay)
B次元官网网址淭heyB次元官网网址檝e really played this like pros.B次元官网网址�
She added the expenses are not yet over. Setting up a new Crown corporation to run the pipeline and oversee the twinning work will cost taxpayers, May explained.
B次元官网网址淭hat will cost a lot of money to create in the first place, and we could see some Kinder Morgan management sticking around to be part of that.B次元官网网址�
May added sheB次元官网网址檚 not sure if tolls paid on a federal-owned pipeline by oil companies will ever make the concept economically viable for the government.
Asked if nationalizing the pipeline gives Ottawa more power over the provincesB次元官网网址� abilities to block it, May said it already came under federal jurisdiction. She added that the current court cases are looking into whether the standards of procedural fairness were met in the projectB次元官网网址檚 assessment and subsequent approval by Ottawa.
May, the MP for Saanich-Gulf Islands, added with this purchase B次元官网网址� and potentially more spending to come, the federal government has spent more on fossil fuels than on climate action, and called that another broken promise by Justin TrudeauB次元官网网址檚 Liberals.
May, who was recently protesting the pipeline expansion project on Burnaby Mountain in March, said the protests and the court actions against it, will continue. The questions those court actions seek to answer B次元官网网址� from First Nations title and consultation issues, to on the environmental review process and ability to protect its coast B次元官网网址� are still lingering over the project, May added.
ItB次元官网网址檚 a project, she added, which has not yet met all 150 conditions set out by the National Energy Board (NEB) that it needs to complete the pipeline expansion work.
B次元官网网址淯nless another buyer is found, itB次元官网网址檚 coming to Canada,B次元官网网址� May said. B次元官网网址淎nd (the expansion project) is another $7 billion of taxpayersB次元官网网址� money to pay for it.B次元官网网址�
editor@peninsulanewsreview.com
Like us on and follow us on
