Hold on to your wallets, people!
Finance Minister Bill Morneau just announced that he’s willing to compensate Kinder Morgan for the financial losses of their investors caused by the Liberal government's inaction on the company's Trans Mountain expansion project.
“The indemnification would allow Kinder Morgan to finish what they started, what they received Federal and BC approval to do” and "as a government, we need to ensure that the rule of law is respected and that investors have the certainty needed to complete the Trans Mountain pipeline expansion project because it's in the national interest to do so”.
All those same things could have been said about the Energy East and Northern Gateway pipelines.
None of these pipelines were wanting for money and investment. They needed a federal government willing to enforce the law and then get out of the way.
Today's announcement changed nothing in that regard.
BC is still stalling the pipeline expansion with Lawfare and the Federal government isn’t doing anything to hold BC accountable for the damage they’re doing to the investment climate in Canada.