Canada is likely to buy the Kinder Morgan Canada Ltd. Trans Mountain oil pipeline and its controversial expansion project in a bid to ensure it gets built, according to a person familiar with the talks.
Buying the pipeline outright has become increasingly likely and is now the most probable option, the person said, speaking on condition of anonymity because the discussions are private. The deal, a value for which hasn’t been publicly reported, will be announced as soon as Tuesday when Prime Minister Justin Trudeau’s cabinet is due to meet.
Of course they are. Think of the opportunities for graft.
Related.
.@Nenshi just now mentioned in council chambers that the @RockefellerFdn paid for his trip to Europe last week.
The Rockefellers are the same group that has fed hundreds of millions into groups like Tides to stop the @KM_Canada @TransMtn pipeline. #YYCCC #ABPoli #ABLeg— Save Calgary (@SaveCalgary) May 28, 2018
I geth Juthtin thinkth evwy one loveth him stho much that Elithabeth May and her people will keep the protetherth away.
Good plan. Make the business environment so hostile to any development that corporations are unwilling to gamble the huge investments needed, and then step in and save the day with some good ol’ government takeover of industry that nobody wants to do.
The Spawn’s father, having blown billions in the Petrocan fiasco would have been proud of his commie brat should that take place.
Bombardier to get the contract no doubt..Or some other Quebec outfit.
And SNC-Lavalin. Another frequent beneficiary of Government largesse.
SNC-Lavalin the unoffocial seat of all Liberal governments
Well, that would be the final bullet to the head of a once proud and productive industry. Canada’s energy industry is dead. Who in their right mind would invest in a country with morons at the helm? We’re done!
Once they own it, they will simply pay BC enough to get the pipeline built. Maybe buying carbon “offsets” in vast quantities will placate them. Who knows. But in any event, the pipeline will be guaranteed to lose money forever no matter how much oil flows through it.
In answer to your headline: everything possible.
I guess this is why we have an actor, a bad actor, acting as PM… this being a Government that never had any intention of seeing the Kinder Morgan Pipeline built, so… lets pretend.
If I was kinder morgan, I would set the price at 1 trillion.
If I was any other oil company, I would double the price of everything I sell starting yesterday. Gasoline? $5 a liter. Diesel? Same. Exhaust fluid? Same. Lock de icer? same. pine tree stink thing? same. OIl changes? they go up to $650,000. Disposal fee? Only half mil. It is time to gaouge the public without apology, hesitation, or remorse. Let them live the true cost of virtue signalling.
And anything I sold to a windmill maker? That oil/grease is extra special, and will cost a billion per barrel.
What the heck do those bozos in Ottawa know about building a pipeline? Absolutely nothing.
And airlines, why are they missing out?
The cost of a ticket, to any climate junket, is 1 billion per seat. Cash up front, no refunds.
The year any climate junket is announced, being an oil company, I hereby promise to square or possibly cube the current cost of all fuel I sell to any airline.
Kinder Morgan, you are not protected by the law in Canada; START BEHAVING ACCORDINGLY.
May I remind all here that the Shiny Pony wants that pipeline built to supply cheap petroleum to his Chinese paymasters, at any price. Making the Edmonton socialists look good was gravy.
Get rid of Justin post haste and replace him with someone willing to work with President Trump, not against him, to put together a fair trade deal ensuring that American energy markets remain open to Canadian oil.
marc in calgary “likes” and thinks highly of all of the above statements from Kevin.
Why the hell not? Look at how successful Venezuela has become with government ownership of the oil industry. Justin has to start somewhere.
First step toward nationalization of the oil/gas industry – because it’s 2018.
This must look good to Trump. Our weakling government – can’t get a pipeline built??
Exactly. I suspect that this was the plan all along.
I have been fearful of this for some time. I have suspected that the wrangling among the lefties has all been staged to enable government to gain ownership of the pipeline and then move on to develop projects that oil companies have walked away from due to onerous regulations designed to do cause them to do just that. Lefty governments, whether Liberal or NDP all want government ownership of everything, which as any thinking person knows is a recipe for disaster. I’m too old for it to make much difference to my future, but I fear for my progeny.
Separate
If only we could.
I’ve said for weeks now, this is a GOLDEN opportunity.
For LIBERAL insiders, to make a goddamn fortune. Just watch, it will make you sick!
We will all pay DEARLY for the fleecing that is about to take place.
There are no winners here. It’s a shallow, very shallow, attempt by PM Soy Boy to get Alberta to like him and his Fiberals.
This won’t end well. What is his plan to end the protests? Flowers? Selfies? Bollywood moves?
Beer and popcorn time!
Like
Change the name to the…..
“Maurice strong schlong”
Dumb.
Why would KM sell an existing pipeline because the expansion isnt getting built?
Trudeau, once the government owns the pipeline, he can opaquely claim the economics have “changed”, and kill it. Much like he claims Energy East died for “economic” reasons.
I don’t know the details of this take over but it doesn’t sound like a poison pill. The feds must have offered KM an offer the share holders could only dream of.
‘What’s in it for quebek’ must have be addressed by the libranos. No doubt a generous opportunity to steal some cash.
So, in order to (NOT) build a pipeline, the Canadian (OUR) government is going to buy an already built pipleine and an unbuilt pipeline. Hmm.
I’ll take incompetence for $10billon, Alex.
‘ll take corruption for another $10billion, Alex.
Lots of weasel words being used and unofficial declarations of an agreement in principle over the building of the expansion.
From KM so far not a peep.
They gave a deadline for a political not a financial solution.
KM could really make life difficult for juthtin by taking any money offered and retaining ownership of the existing pipeline and establishing another deadline to have the expansion up and running by June 2019.
Or
They could announce on midnight tomorrow they are not going to expand the existing pipeline (original deadline) and continue to operate the existing pipeline. This option if followed by Morneau declaring a hostile takeover of the pipeline would give Trump ample reasons to impose the tariffs on aluminum and steel on the June 1 deadline.
These are the first two scenarios that come to mind I’m sure there are others, the irony is that PM Sock monkey and his cabinet have only considered the one where they can continue to trot out their BS talking point that they can still impose their AGW orthodxy and not create a significant reduction in GDP .
As Regan said:
“If it moves TAX it”
If it continues to move, “REGULATE IT”
If it stops moving ” SUBSIDIZE IT”
Got to find a place to put all those Carbon Tax Dollars someplace.
And that’s that. KM gets a bag of money for its troubles. Taxpayers get about $7 billion in construction costs. Sounds like a great deal.
Our Dear Leader and his student council of a cabinet probably don’t even realize they’ve painted themselves into a corner here: sniffy and supercilious high-mindedness about climate change while simultaneously purchasing an oil pipeline.
If the Federal Government takes on the pipeline, they lose twice over: the environmentalist crowd will despise them for it (Climate Barbie should start checking the want ads now; no amount of paddling a canoe down the Rideau with Rick Mercer will salvage her credibility) and everyone else will recognize yet another Liberal state-owned boondoggle further ratcheting up our national debt.
Couldn’t happen to a smarmier, more deserving bunch.
(Say what you will about Justin’s Dad, “Just Watch Me” Pierre, but if he had decided Kinder-Morgan was a go, the premier of BC would be probably be in jail right now under some emergency measures act or another.)
A new standard in outperformance ! Just when you think it isn’t possible to do anything stupider – they up the standard ! I sure they are not done – it will be built buy lbjqabc green women from the heart in the sun !
The Liberals have so soured the Canadian economy to private investment they had no alternative. How do we get these arseholes out of power?
Numerous posts have already stolen my thunder (that’s what I get for sleeping in!) My own thought is that the expansion will not be built due to a “change in the economics” and the existing pipeline will then be sold at a steep discount to a Montreal based entity, more than likely Power Corp.
I actually think we don’t need any pipelines. After watching Bill Morneau this morning oozing oil from every pore, I think we just need to move him around and voila! All our energy problems solved!
Google insanity and there will be a picture and lengthy explanation of the Liberal Party of Canada and all the Canadian voters that support them. All I can say to the above comments is ” Liberal Sub purchase meet Liberal Pipeline Project.”
This has to be the biggest boondoggle in Canada’s history. Kinder Morgan has just proven that there is a sucker born every minute and Canada has 36,000,000 of them.
A pipeline is more environmentally friendly than Obama’s heavy transport transport planes for delivering tons of cash to your friends.
Boy! Wait till Andrew Scheer hears about this!
As a died in the wool conservative, if this gets the pipeline built, I may just vote FOR JT and the Liberals next go ’round.
Davis, by nationalizing it they have just taken it off the table.