No pipeline to energy sector investment
In a stunning turn in an already unprecedented saga, Finance Minister Bill Morneau announced last week that the federal government will buy the Trans Mountain pipeline expansion project from Kinder Morgan for $4.5 billion, essentially nationalizing the project.
The agreement, which federal Natural Resources Minister Jim Carr said “will help advance Canada as an energy leader, as a place where good projects get built,” will do anything but. The harsh reality is that the agreement is further evidence that Canada is closed for business when it comes to investment in our energy sector.
Consider how we got here.
The $7.4-billion Kinder Morgan project was approved by the federal government about 18 months ago after a five-year process that included environmental assessments and Indigenous consultations.