Key Kinder Morgan Canada Shareholder Calls For Shutdown Of Trans Mountain Pipeline

“I’ve talked to them and I’ve suggested that they shut their main [Trans Mountain] pipeline down,” Greg Guichon told BNN.

Greg Guichon is the Chairman of Barometer Capital Management. Barometer Capital Management owns about 500,000 shares of Kinder Morgan Canada.

And now, he’s calling for the shutdown of the Trans Mountain pipeline.

As reported by BNN, Guichon said “I’ve talked to them and I’ve suggested that they shut their main [Trans Mountain] pipeline down.”

Says Guichon, “I think the company should sue the government of B.C. for breaking the law so they can recover their costs. There is a legal liability here for the B.C. government and really [Kinder Morgan Canada] should be able to recover their costs plus interest.”

Guichon says the company “would leave value on the table,” by walking away from the project, but says walking away would be better than “months or even years” of uncertainty.

Each month the pipeline expansion is delayed, Kinder Morgan loses $75 million in revenue.

Notes Guichon, “It is pretty binary for them: either they can build it or they can’t,” Guichon said. “But the fact that we as a country are selling our oil at such a discount to world prices because we just can’t get it to market, all that potential corporate revenue and tax revenue that we are letting go every day, it is just criminal.”

Escalating pressure

Guichon’s suggestion shows the escalating pressure on both Kinder Morgan, the B.C. NDP, and the Trudeau government as the pipeline crisis continues. Investors will only put up with uncertainty for so long before they increase demands for a clear resolution, and B.C. faces the prospect of large gas price increases due to Horgan’s intransigence.

Meanwhile, Justin Trudeau’s repeated refrain that the pipeline will be built has contrasted dramatically with his weakness and lack of action, and every move towards the failure of the Trans Mountain expansion erodes Trudeau’s already-crumbling credibility.

Spencer Fernando

Photo – YouTube

16 comments Add yours
  1. What Liberal bull poop.
    Theoretically:
    The pipeline WILL be built.
    The Yellowstone volcano WILL erupt.
    A planet-killing meteor WILL hit the earth.
    Vancouver Island WILL be destroyed by a tsunami.
    The Trudeau Government WILL be open and transparent.
    Hahahahahahahahahahaha.

    Hey Justin, not ALL Canadians are as stupid as you think we are.

    1. THERE IS NO SPILL! When it’s federal matter is federal matter! Look at the pipeline already there since about, 30 years NOT 1 DROP SPILL FROM IT today the pipeline is the best -the fastest and most of all the safest way to transport our gas, they build this pipeline with the state of the art technology with multiples sensors -robots -GPS localisation, inside the ground( most of the time) and cover with multiple coats of material anti-rust and land owner will receive dividend money to have it pass on their land, anyway, it is not the right of BC to hold the entire country economy into their hands, this PHOBIA of a desaster is so impressed into their mind by lilttle bunch of overated greeen thinking they can’t see more than what they have further than 2 inches of their nose. In India & China, they open a COAL central EVERY DAY! AS SOON AS THEY GOT OUR GAS THEY `WILL STOP TO POLLUTE THE WHOLE PLANET SO get the hell out of the way for God sake!|

    2. Talking to Trudy:
      Not all Canadians are as stupid as you are, Justin .We came to the conclusion that we are better than you , in almost every field. Why do we need you? To balance your shameless budgets that balance themselves without intervention? And you better stop traveling. We do not want to pay for it and your enormous carbon footprint will be more acceptable. Don’t you know that travel produces enormous pollution? You think of yourself as a green soul? Do not lie to yourself. Please stop using cars and planes and boats and buses and trains. Who needs oil in this Country? Close all producers. And do not eat too many beans. They produce greenhouse gases. Eating, in fact, is not good for the environment, and if your young and brainless supporters know that you are still eating, they will vote for somebody who no longer does that.

  2. I think what should be done is that the existing Trans Mountain pipeline should be re-purposed as an “export to Asia” pipeline ONLY. That is, shut down those aspects of the line that provide refined products to the Kamloops Terminal, shut down the Sumas Terminal at Abbotsford connection which provides crude for the Washington state refineries which then sell the refined product to B.C. and shut down the connection to the Burnaby refinery and shut down the connection to the Westridge Marine Terminal. Then use the existing Trans Mountain pipeline to move product only to offshore.

  3. if the Expansion does not go thru, on nov 01 2018 Kinder Morgan should shut down the current pipeline 90 day maintenance. When BC complains, they can go but we don’t want a spill

  4. Trudeau has no jurisdiction in the Province and obviously the Province knows it. The result is devastating for the Province as far as their position against progress but proves they are sovereign with in their sphere. Or free with in their boundaries. Knowing the law is vital for all people in this pseudo nation or they will just operate in a pragmatic way instead of a constitutional way. Trudeau is with out a sword except withholding transfer payments which will open up another battle in that the fed is unconstitutionally invading sec 92-3 of the BNA re direct taxation which is exclusive and non transferable to the provinces. Do not expect to find a true copy of the BNA or the Charter on line. Go to a university law library.

    1. Uh…you bet the feds have jurisdiction in the Province. The Constitution is clear and in Canadian Constitutional law, there is the doctrine of paramountcy. By the way….just so you know, ALL physical land in Canada is owned by one entity….that being the “Crown”….at this time, Queen Elizabeth II.

  5. Trudeau is already preparing for failure: well he has been progressively failing ever since he decided along with his friends in the environmental movement(NGOs) that they are above the law and can shutdown or phase out our oil industry. Trudeau may have believed that he had a perfect plan and now thinks it’s succeeding but the end result will be his own defeat in the next election. Simply because the trade off for getting what he wants, the entire phase out of the oil industry, will come at the cost of pleasing these American funded NGOs, while infuriating the voters to the point of voting him out of office in 2019. As for the investors and shareholders, the decision has already been made. Oil corporations such as Kinder Morgan don’t make up plans on the fly, the will have already seen the future and have weighed it against the costs to continue. They will have made a financial decision to invest elsewhere, where there is a much better return on investments. Kinder Morgan, like banks, analysts and the oil industry view Canada as a anti business , anti oil industry country with a rigged , biased in favour of NGOs regulatory system, where you will never can expect to get a pipeline built. The end result, no Trans Mountain pipeline built and the oil industry just waiting out Trudeau until he is removed from office and the regulatory system is rebalanced to allow for real progressive.

  6. Pipeline conflicts have been known to cause wars. Advocates are fierce and ruthless. Iraq and now Syria devastated by these wars. Will Trudeau and Notley take it that far with their threats to BC

  7. Is there such a thing as economic sabotage? This seems to be a clear case. These weasel politicians need their asses severely whipped. Each month Kinder Morgan loses seventy-five million dollars. That’s a lot of cash. They will likely sue the “government,” and the residents of BC will end up paying. What a stark contrast–The USA: encouraging business. Canada: virtue signaling. What the heck is wrong with this country??? Why is it so determined to destroy itself?? It all seems to have started with Trudope the Elder, and continued through a succession of horrid federal governments…culminating (so far) in Trudope the Younger. We get a brief respite; (Harper), and then back to the death march of this country. It’s criminal. These jerks get away with their malfeasance.

  8. Trudeau’s virtue signaling is the sign of the corrupt. It is used as an excuse for his political sins.CBC sees nothing wrong with this gang of fools. The new book on our Prime Mistake has been out for a week? Did you here any remarks from the self made analysts and Media reporters about it?Because it is written in French, they think they can hide it a lot longer, and the useful idiots will forget about it.CBC is a remarkably useless and undesirable source of Supremacist Left propaganda.Don’t expect real news from that source.

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