Notley says province prepared to buy Trans Mountain pipeline outright

Notley says province prepared to buy Trans Mountain pipeline outright

In fact, because Energy East was unpopular in Quebec (and the Trudeau government wants desperately to be loved in Quebec), it did all it could to kill Energy East.

The meeting comes as tensions between Alberta and BC mount.

On Sunday Kinder Morgan Canada announced it was halting most work on its Trans Mountain expansion project, which has been facing ongoing opposition from the B.C, government, municipalities, environmentalists and aboriginal groups. The beginning of construction would mean spending would jump to $200 to $300 million per month, a level of spending that the company says is too risky given the uncertainty. But it's still unclear who is in charge - Ottawa or the BC government.

The Conservatives also want Trudeau to sit down with Horgan. Accern also gave news headlines about the pipeline company an impact score of 46.2771100553466 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company's share price in the next several days.

The analysts, however, question the willingness of the federal Liberal government to exercise force as the next election cycle approaches.

Risky as one never knows what the courts will do with a dispute as political as this. The project is worth billions of dollars in additional royalties to the treasury. "This is what we'll be devoting some attention to in the coming weeks", Kean said. "We're heading into very high spend". And various court proceedings have come and gone, with some still remaining. "We will get this project built".

"We will be judicious in our use of shareholder funds".

"We set this company up with what was, at the time, KMI's Canadian assets", Kean said.

Notley has said the pipeline is critical to helping Canada's economy. Suncor is one of the 13 shippers. But Natural Resources Minister Jim Carr told BNN the federal government has been involved in the process every step of the way.

But they are now under pressure to put their words into action.

With files from CBC and the Canadian Press.

Notley's tactic, however, seems geared towards making the Alberta government a partner in the pipeline project.

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On the other side of the planet, Canadian Heritage Minister Melanie Joly is in Shanghai to kick off what her office is billing as "Canada's first creative industries trade mission to China", where, accompanied by representatives from "close to 60" Canadian companies and organizations, she'll do her best to "facilitate new markets, leverage existing networks and renew partnerships". Such an arrangement might see the government providing loan guarantees or actual equity stakes in the pipeline.

But perhaps Alberta's proposal to take a stake in the project would help mitigate the risk for investors, particularly if Ottawa joined in.

"It's been done before", said Trevor Tombe, associate professor at the University of Calgary's economics department.

Kinder Morgan's setting of a timeline escalates the intergovernmental conflict, and could require the federal government to flex political muscle by sending in RCMP protection to ensure the pipeline is built, analysts at Desjardins Capital Markets said in a report on Monday.

It's not just growth in Alberta's oil sands that hinges on the Trans Mountain. She also wants Ottawa to use the courts or legislation to assert its jurisdictional authority over the pipeline, and to put its money where its mouth is - either as insurance for anxious investors or even as a stakeholder in the project. "This pipeline will be built".

If the pipeline part of the deal fails, there is some question whether the Alberta and federal governments can continue to defend what are already unpopular new taxes.

Unconstitutional? Perhaps. But according to Alberta, so is B.C.'s effort to stall a federally-approved interprovincial pipeline.

"They (politicians) will have alienated their environmental supporters by supporting a pipeline but they won't have been able to deliver it to the people they were taking the environmental heat for".

Energy-based economies in most of the rest of the world are growing strongly without bailouts and government investment.

The global market for oil, bitumen and natural gas is strong enough to justify Trans Mountain AND Energy East AND Keystone XL, and maybe even Northern Gateway.

"The implications here are seismic", said BC Chamber of Commerce president Val Litwin. "We're not going to let that happen", Notley said.

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