Canada’s Prime Minister ready to offer financial aid to controversial oil pipeline

Canada’s Prime Minister Justin Trudeau has waded into an escalating crisis over a C$7.4 billion oil pipeline, saying Ottawa is prepared to offer financial aid to ensure the project goes ahead.

Kinder Morgan Canada has devised plans to almost triple the capacity of its Trans Mountain line from Alberta to British Columbia (BC), but is unhappy at the BC provincial government’s move to impede the project on environmental grounds.

As such, the company is threatening to walk away from the project and has set a deadline of May 31 to receive sufficient clarity on the matter at hand. However, Trudeau has cited investor confidence as one reason to help Kinder Morgan.

The Prime Minister Trudeau told reporters that the pipeline is of ‘vital strategic interest to Canada.’

“I have instructed the minister of finance to initiate formal financial discussions with Kinder Morgan, the result of which will be to remove the uncertainty overhanging the Trans Mountain pipeline expansion project.”

Speaking after an emergency summit with the premiers of Alberta and British Columbia, he added: “We are actively pursuing legislative options that will assert and reinforce the government of Canada’s jurisdiction in this matter.”

@RGNonline