Canada considering investing in controversial pipeline
OTTAWA, Ontario (AP) — Canada’s natural resources minister says the federal government is considering investing in Kinder Morgan’s controversial Trans Mountain pipeline expansion project in an effort to get the project completed.
The pipeline is in doubt after opposition from British Columbia spooked Trans Mountain investors enough that Kinder Morgan called a halt Sunday to all nonessential spending on the project.
Natural Resource Minister Jim Carr says government investment is an option. Alberta’s premier says her government is also prepared to invest.
Kinder Morgan CEO Steve Kean said Monday the company would be open to government investment if it brought certainty.
The expansion would nearly triple the flow of oil from Canada’s oil sands to the Pacific Coast and dramatically increase the number of oil tankers traveling the waters between Canada and Washington state.