REPORT: “Non-Essential Spending” On Trans Mountain Expansion Suspended By Kinder Morgan

“The uncertainty as to whether we will be able to finish what we start leads us to the conclusion that we should protect the value that KML has, rather than risking billions of dollars on an outcome that is outside of our control,” says Kinder Morgan.

Kinder Morgan has suspended “non-essential spending” on the Trans Mountain Pipeline Expansion project, raising the odds that the project will be ‘delayed to death’ by the B.C. NDP as the Trudeau government fails to resolve the impasse.

Here’s part of what the company said in a statement:

“As KML has repeatedly stated, we will be judicious in our use of shareholder funds. In keeping with that commitment, we have determined that in the current environment, we will not put KML shareholders at risk on the remaining project spend,” said KML Chairman and Chief Executive Officer Steve Kean. The Project has the support of the Federal Government and the Provinces of Alberta and Saskatchewan but faces continued active opposition from the government of British Columbia. “A company cannot resolve differences between governments. While we have succeeded in all legal challenges to date, a company cannot litigate its way to an in-service pipeline amidst jurisdictional differences between governments,” added Kean.

“Today, KML is a very good midstream energy company, with limited debt. The uncertainty as to whether we will be able to finish what we start leads us to the conclusion that we should protect the value that KML has, rather than risking billions of dollars on an outcome that is outside of our control,” Kean said. “To date, we have spent considerable resources bringing the Project to this point and recognize the vital economic importance of the Project to Canada. Therefore, in the coming weeks we will work with stakeholders on potential ways to continue advancing the Project consistent with the two principles previously stated.”

This is exactly what the radical left in B.C. wanted. Even if they can’t win in court, they just want to keep delaying the project until the company gives up. And while Kinder Morgan says they plan to keep “advancing the Project,” there’s no doubt that this is a huge setback.

Failure of Trudeau’s ‘climate plan’

The Trudeau government promised people that by accepting their carbon tax climate ‘plan,’ they would get more pipelines in return.

It hasn’t happened.

Instead, the regulatory burden has been made nearly impossible to navigate, investment is fleeing, and pipelines are being blocked.

And while the Trudeau government claims they support the project, they are doing as little as possible to get it going, giving the impression that they want they really want project to collapse, but are just unwilling to say it.

This is another disappointing moment for Canada, as our nation continues to be weakened from within by those who are trying to wreck our energy industry.

Spencer Fernando

Photo – YouTube

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Tommy HawkJenRay DecorbyMary-Ann WhittakerDel Recent comment authors
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Del

Trudeau and the enviro-fascist are wrecking the Western Canadian economy. Any common sense CEO would simply walk away from this effort and can honestly say they tried. When the BC economy starts to collapse from lack of fuels, the Prairie Provinces will approach the US and make whatever arrangements to leave a collapsing Canada. BC would become isolated with Washington as the only connection to the world. Vancouver harbour would almost disappear as oil, grain and coal shipping would almost stop. BC actually has relatively little to offer the world and with being forced into charging drastic taxes to survive,… Read more »

Mary-Ann Whittaker
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Mary-Ann Whittaker

Another example of the PMs contempt of Canadians! He didn’t have any problem shoving a carbon tax down the throats of Canadians across the country over their objections, and the objections of some of the Provincial Premiers – regardless of the affect it had on citizens economically! However, he won’t exert any force on B.C. to push the Kinder Morgan pipeline through ( even though pipelines are Federal Jurisdiction ) because SOME B.C. residents object. What about the rest of the country, the rest of the citizens, the loss of revenue in the $billions that will be lost to this… Read more »

Ray Decorby
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There seems little question as to PM Butts and JT’s long term plan to dismantle Canada’s oil industry…they’ve said it. Just maybe this KM set back will be ‘short term pain for long term gain’, in that it will be another sobering wake-up call for Canadian voters in 2019, further exposing this current gov’ts nefarious initiatives to de-industrialize the country.

Jen
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Jen

Justin has no interest in the West, particularly Alberta where his vote count is very low which serves him no purpose of supporting. His main concern his Quebec, the Atlantic Coast where he can easily manipulate and where his illegals are to use for added votes to fill in. More illegals more votes. Remember also, Quebec is sitting on undeveloped oil that can sustain Quebec and, oil off the coast of NFl. So really, Alberta is nothing to him. Justin also knows that Rachel Notely is not interested in the pipelines being built which BC government is fully aware of.… Read more »

Tommy Hawk
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And is this not something that would be considered quite normal, considering the present circumstances?