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Saskatchewan wants Ottawa to get tough with BC over Trans Mountain pipeline

Saskatchewan wants Ottawa to get tough with BC over Trans Mountain pipeline”

At a press conference Wednesday, Finance Minister Bill Morneau said the government would step in and financially back the project either with Kinder Morgan or with another company, if necessary.

"If it's an opportunity that has decent returns, then we'll look at it", CPPIB CEO Mark Machin said later to the news agency, adding that the federal government's indemnity pledge against political risk was helpful.

Negotiations between Ottawa and Kinder Morgan are ongoing.

He said if Kinder Morgan chose to walk away from the project, the indemnification would stay in place in case another company took over, Reuters reported.

The best path forward would be for the federal government to refer both Alberta and B.C.'s legislation to the country's top court, something the provinces can not do on their own, he said.

WINNIPEG, Manitoba (Reuters) - The Canadian government's optimism that outside investors would be interested in taking over a Kinder Morgan Canada oil pipeline project if the company pulls out might be misplaced, said energy industry sources and analysts. Barclays dropped their price target on Kinder Morgan from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, April 17th.

In a statement of his own, Horgan said his government is within its rights to stand up for B.C.'s environment, economy and coast against the threat of a bitumen spill.

"Horgan knows that he's not going to win in court, he knows that he's not going to win the plight of public opinion, he's hoping to scare away the investors", Nenshi said. Nor did he rule out the possibility that Ottawa could take a financial stake in the project to ensure it becomes a reality.

Alberta United Conservative Leader Jason Kenney is standing by his personal attack on Prime Minister Justin Trudeau, whom he called empty and clueless. "And getting access to different markets for our natural resources actually makes good economic sense". Last week, Mr. Morneau flew to Houston for a face-to-face meeting with Kinder Morgan Inc.

"That's the type of risk that makes it very hard for companies to come in and invest in Canada, when they're looking globally for stability", he said.

Last month, Kinder Morgan stopped all non-essential spending on its $7.4-billion project after a months-long standoff between the British Columbia and Alberta governments.

The pressure is being turned up in the standoff that has Alberta and B.C. premiers, the federal government, and some First Nations groups in B.C. fight over oil.

Entitled "Preserving Canada's Economic Prosperity Act" and officially known as Bill 12, the government said the objective of the bill is meant to give the province the power it needs to to restrict the export of crude oil, natural gas and refined fuels into BC.

Alberta Premier Rachel Notely reiterated she is prepared to "turn off the taps" of supplying oil to British Columbia if the dispute isn't settled soon. "The fact is, we've been issuing permits in a fair and timely manner, and have proposed new regulations that are now referred to court to confirm our jurisdiction".

"If they refuse to do that we'll take them to court and we'll challenge the constitutionality of their bill", Eby told reporters.



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