Trans Mountain Receiving Behind-the-Scenes Support, Morneau Says
(Bloomberg) -- Canadian Finance Minister Bill Morneau said the federal government is waging a “behind-the-scenes” campaign to make sure Kinder Morgan Inc.'s expansion of the Trans Mountain pipeline goes ahead.
The C$7.4 billion ($5.7 billion) expansion would carry an additional 590,000 barrels of crude a day from Alberta to a shipping terminal in British Columbia, where it could then be sent to markets in Asia, lessening the Alberta oil industry's dependence on U.S. buyers. But the project has been delayed by legal challenges and permitting issues in British Columbia.
The entire government is working to help reach an agreement that would mitigate British Columbia's objections to the expansion, Morneau said. He declined to provide details of those efforts or a timeline for when they may produce results.
“We understand it's critically important for our economy,” Morneau said at a press conference in Calgary. “We continue to work to get to a solution that works for everyone. We see that as an important federal role.”
To contact the reporter on this story: Kevin Orland in Calgary at korland@bloomberg.net.
To contact the editors responsible for this story: Reg Gale at rgale5@bloomberg.net, Chris Fournier
©2018 Bloomberg L.P.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
