Canada 'a laughing stock': Experts react to Trans Mountain indemnity
by April Fong (feat. Dennis McConaghy)
May 18, 2018
The battle over Kinder Morgan’s $7.4-billion Trans Mountain pipeline expansion took a sharp turn this week, after Finance Minister Bill Morneau offered to indemnify the project for politically-motivated delays and backstop any company that takes it on.
The move came as Kinder Morgan’s May 31 deadline for assurances looms, after the Houston-based company last month halted all non-essential spending on the Alberta to B.C. project amid mounting opposition from the B.C. government, local protestors and environmentalists.
While Kinder Morgan Canada CEO Steven Kean said at the company’s annual meeting on Wednesday that the pledge isn’t enough to restart the Trans Mountain project, other experts and business leaders weighed in on what Morneau’s move really means for the project and business in Canada.