Canada needs projects like the expansion created to triple Trans Mountain's capacity to move crude oil and refined products from the Alberta oilsands and Edmonton refining complex to the West Coast, said Chris Bloomer, CEO of the Canadian Energy Pipeline Association. A lack of capacity in pipelines or in rail cars to ship oil produced in Alberta is also hurting Canada's energy sector.
The federal Canadian government said Tuesday it reached an agreement that will see the expansion of the Trans Mountain oil pipeline finally take place.
"CEPA is deeply concerned that the government needed to purchase the project for it to be built and to assert federal jurisdiction", Bloomer said.
Horgan told reporters in Victoria the federal government's takeover of the project changes the legal situation, but his contentious legal action isn't aimed at any specific project.
"Make no mistake: this is an investment in Canada's future".
Back in April, Kean had threatened to cancel the project unless Ottawa could provide assurances the company would be able to construct the pipeline through B.C. He also asked Ottawa to provide financial assurances the company wouldn't lose money building the $7.4 billion expansion to the system given the B.C. NDP government's continued opposition.
"For too long we have relied on one trading partner for our oil and gas exports", Natural Resources Minister Jim Carr said.
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Canada loses $15 billion every year on the sale of oil because the US remains its only export customer, resulting in a lower price, Trudeau argues. The federal cabinet approved the purchase on Tuesday. Construction costs going forward will be included in the $4.5-billion sale price if no buyer is found.
Until now, his government has used kid gloves to try to persuade British Columbia to abandon its opposition to the pipeline, hoping not to alienate voters in the province ahead of next year's general election. Trudeau pledges regularly that the pipeline will be built.
He said the only major government-owned pipelines he knows of in the world exist in countries like China, Saudi Arabia or Kuwait, where the pipeline is operated by a subsidiary of a national oil company.
The Trans Mountain expansion would nearly triple capacity to 890,000 bbl of oil on a line running from Alberta to a terminal near Vancouver.
Notley says there is more certainly around the project than there has ever been and she doesn't plan to use her province's legislation to regulate the flow of oil exports for now.
"Our reference case will continue", said Horgan. Ottawa will buy the pipeline and all of Kinder Morgan's core assets for $4.5-billion, including pumping stations and rights of way along the route between Edmonton and Vancouver, as well as the marine terminal in Burnaby, British Columbia. Alberta Premier Rachel Notley said the Canadian economy needs access to foreign markets and without projects like Trans Mountain, the economy is out as much as $30 million (USD) per day.
Morneau's announcement immediately prompted more protest vows to resist the project in the name of preventing offshore oil spills and stopping thermal tar sands production blamed for increasing Canadian carbon emissions. "There is more work to do, but we will not stop until the job is done".