In the last few weeks, people from coast to coast, from Victoria to Halifax, rose to oppose Justin Trudeau’s billion dollar bail out for the Kinder Morgan pipeline. People from all walks of life
Finance Minister Bill Morneau announced on May 29 that the Government of Canada will buy the existing Trans Mountain pipeline system from Kinder Morgan at a price of $4.5 billion. When asked about the cost to build the expansion, Mr. Morneau refused to explain that $4.5 billion simply buys Ottawa the rights to what exists today
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Canada’s Folly 3 Background On May 29, Kinder Morgan Inc.,5 Kinder Morgan Canada Limited,6 and the Canadian government7 issued separate statements confirming that the government of Canada would buy Kinder Morgan’s Trans Mountain pipeline project for $4.58 billion.9 Theof the pipeline to a Crown Corporation,
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There is growing expectation, even among those who oppose Kinder Morgan’s $6.8-billion expansion of the Trans Mountain pipeline, that Justin Trudeau’s government will approve the project.
Kinder Morgan (NYSE:KMI) "won a billion dollar bailout" from the Canadian government after structuring deals in such a way that it had little to lose, even if the Trans Mountain expansion project.
How Kinder Morgan won a billion-dollar bailout on Canada pipeline. U.S. energy firm Kinder Morgan’s C$4.5 billion sale of an oil pipeline to Canada’s government marked an extraordinary escape.
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Canada’s bailout sent Kinder Morgan’s share prices soaring, while earning Trudeau a deluge of criticism from across the political spectrum. Unsurprisingly, Alberta played a key role in financing the deal , pledging up to Can$2 billion to keep the pipeline expansion moving forward.
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Kinder Morgan: Should Canadian taxpayers invest in a bailout?. Mountain Pipeline from the American corporation Kinder Morgan-despite opposition from. The promise was of an influx of dollars to lower inflation, with high growth, job. exit polls predict that the repeal of the Eighth Amendment has won overwhelmingly.
· On Saturday, with its bailout from the Canadian taxpayer confirmed by Trudeau, Kinder Morgan declared after an investigation that, actually, 4,800 liters of crude oil had leaked during the May 27 spill-48 times more crude than first reported.
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Now, in a deal announced Tuesday, Canada will pay Kinder Morgan the C$1.1 billion it has spent and another C$3.4 billion for the existing pipeline and to compensate the firm for giving up the.