KXIP vs KKR Live Score

The move will see Ottawa purchase the pipeline and the core assets of Kinder Morgan Canada for $4.5 billion dollars.

"We are purchasing the assets; we are purchasing the existing assets, and the investment in the twinning of that pipeline, and those assets are what is required for us to move forward with the expansion", he said.

The federal government announced on Tuesday that it will be spending $4.5 billion to buy the Trans Mountain pipeline from Kinder Morgan.

"My experience is that people are motivated by betrayal, they're motivated by a lack of fairness, they're motivated by a sense of shared common objective and outrage".

But the finance minister has been pressed on the possibility that future costs could well exceed that number, as the company has previously pegged the total expansion cost at $7.4 billion.

"What? If it's too risky for an oil pipeline company to build an oil pipeline, why is it okay for the Canadian public to pick up all of that risk?" he asked. The pipeline would see bitumen from Alberta shipped to the Westridge marine terminal in Burnaby, B.C. In 2016, the Federal Court of Appeal overturned approval of the Northern Gateway pipeline project, but it was Ottawa that ultimately rejected the project. It was a remote location that took most people five to seven hours to get through. He said the Liberal government's planned reforms are not sufficient to preclude the repeat of another situation like Trans Mountain.

However, despite the project receiving some financial assurance, the B.C. government says Kinder Morgan has yet to even apply for hundreds of necessary permits.

Elizabeth May, the leader of Canada's Green Party, characterized the project as much more than a pipeline.

"The protesters and the opposition, and the civil disobedience is probably going to increase", Khelsilem said. "We're going to stand with our bodies as our weapons to defend the last of our sacred lands from any type of further encroachment or invasion", Manuel says.

Meanwhile, the rally drew hundreds of Vancouverites, all opposing the Kinder Morgan purchase. That doesn't include money that will have to be spent for the proposed twining of that pipeline.

"I didn't think the government was actually this stupid to buy a pipeline that has 17 court cases against it".

Once the sale is final, Canada will continue construction on its own in hopes of selling the pipeline down the road.

It's possible they do mesh, Kinley said, but it's up to the government to explain how Trans Mountain squares with a commitment to reduce emissions by 30 per cent by 2030.

"The risk is low, the payoff is huge and the structure of the financing is not a subsidy", she said.

"Our government believes that the commercial agreement we have reached with Kinder Morgan is the best way to protect thousands of good, well-paying jobs while delivering a solid return on investment for Canadians", Finance Minister Bill Morneau said in a statement.

The federal Liberals say the project will be successful because of Canada's world-leading Oceans Protection Plan, ongoing consultations with Indigenous communities and strengthened environmental standards. In order to expand deliveries from the tar sands area, there was an attempt to build the Keystone XL pipeline, but the Obama administration killed that by denying a permit for the pipeline to cross the border.


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