Morneau Says Goverment Will Indemnify Trans Mountain Project, But Leaves Out Key Details

Finance Minister fails to say how much taxpayer money the government is prepared to spend, and doesn’t explain how the project can move forward if Kinder Morgan decides against it.

Bill (Moneybags) Morneau released the Trudeau government’s ‘plan’ for the Kinder Morgan Trans Mountain pipeline, but his proposal may leave more questions than answers.

While Morneau said the federal government will indemnify the project against ‘politically motivated’ delays, there are some key details that were left out.

Morneau said the government would provide indemnification to any company that built the pipeline if Kinder Morgan backed out, but didn’t explain how that would work considering that Kinder Morgan owns the pipeline.

“If Kinder Morgan isn’t interested in building the project we think plenty of investors would be interested in taking on this project, especially knowing that the federal government believes it is in the best interest of Canadians and is willing to provide indemnity to make sure that it gets done,” said Morneau.

Yet, if the original pipeline owner didn’t want to complete the project, what would be the incentive for another company to pick it up?

Morneau also failed to provide a dollar figure for how much the government would spend.

And finally, Morneau left an interesting caveat in his remarks, saying the financial backing has to be ‘fair’ and ‘beneficial’ to Canadians. That’s the kind of statement a government could use to justify not spending money on the project if their political viewpoint changed.

How did it come to this?

Morneau’s press conference seems to have failed to strengthen confidence in the project going forward. An online poll on BNN Bloomberg shows just 29% saying Morneau’s comments make them more confident about Trans Mountain, 21% say less confident, and a full 50% say “his comments don’t sway me.”

The deeper issue is how we got here in the first place. If the federal government has full authority to get the project approved, then there shouldn’t be a need for any taxpayer dollars to be spent on it at all.

Because of Justin Trudeau’s weakness and failure to get tough, Canadian taxpayers may now be on the hook for billions of dollars – if the pipeline even gets built at all.

Spencer Fernando

Photo – Twitter

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Timothy Hickey
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Timothy Hickey

Canadians need to withdraw from NAFTA!

Jeff
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Jeff

Well its spring time, time to get digging into the ground and start building this phantom pipeline. Really Morneau is all talk and if he doesn’t get building it soon, it will never be finished before it snows.

Nancy
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Nancy

So the confusion and lies continue, first blame Harper, then blame BC, then blame Kinder Morgan, put a stop on oil tankers, change more regulations, oh and blame the indigenous people even though Kinder Morgan had 43 tribes ok the deal, etc. etc. Give BC 4.1 billion take away millions from Saskatchewan, the confusion and outright lies. Say you want to close down the oil flow from Alberta when in Ontario, almost apology to Europe that he had failed to stop the oil flow in Canada. etc. etc. Trudeau and Morneau’s unethical dramas pretending to do some confusing thing, but… Read more »

Kevin
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Kevin

Imagine how some can see the money now, cost plus? I still remember the Montreal Olympics, what a cash cow for some? The government should have done a better job at this? Or perhaps even made it a government project for well connected firms? Pardon the sadness and too some decree sarcasm!?

Shawn Harris
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Shawn Harris

Morneau and Trudeau are just dreaming if they truly believe that any business would want to even consider building or investing in the very same pipeline that Trudeau has been trying to kill off. Since Kinder Morgan owns the pipeline , the Liberals wouldn’t be able to offer it anyone to invest in or build it and if they tried, Kinder Morgan would immediately sue the federal government for multiple times more than the total amount to build it now. Meaning, we the taxpayers would be on the hook for at least 30-40 billion dollars, not just the budgeted cost… Read more »

Bruce
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Bruce

Morneau and the Communist Chairman, Turdo will either nationalize pipelines or indemnify Kinder Morgan losses (sweetheart deal for KM). Either way Canada’s Communist Liberal Party will finance the pipeline on the backs of taxpaying Canadian citizens when KM was already to build and assume responsibility for profit or loss. There must be no deal that puts Canadians’ incomes at further risk because of the Turdo government’s total incompetence on the Trans Mountain Pipeline file. At this stage, I’m for secession of Conservative provinces should Turdo Communists win re-election in 2019.

Nancy
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Nancy

Bruce I agree totally, I am just praying that Doug Ford gets in, in Ontario, then the Lieberals/NDP foreign agendas and our foreign media will be voted out in the next election, if we can wait that long, they have been collapsing Canada for so long. we need rid of all the leftie communists, leave them behind. If we can not get rid of this nasty divisive government and media we need to succeed, and move ahead, and leave these Lieberal?NDP’s behind.