Canadian government to buy stalled Trans Mountain pipeline project
NOVANEWS
By Eric Buerk
Sept. 9, 2017 protest against Kinder Morgan Pipeline, Vancouver, B.C. By William Chen - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=62555725
On May 29 Canadian Prime Minister Justin Trudeau announced plans for the federal government to spend $4.5 billion to acquire the Trans Mountain pipeline expansion project from Texas-based oil corporation Kinder Morgan should the government fail to find a buyer for the massive project before July 22. In the process, he has pledged unequivocally that his government is committed to seeing the process through to completion- at a total cost of $7.4 billion, according to Kinder Morgan estimates.
The promise amounts to a bailout for the stalled project, which had been abandoned after meeting with dogg...
