While the British Columbia government wages war against the Trans Mountain pipeline expansion, its own employees are invested in the U.S. company behind the $7.4-billion project.
The British Columbia Investment Management Corp. (BCI), which manages the pension funds for B.C.’s public sector workers, owns stakes in the Canadian oil and gas industry as well as pipeline companies Kinder Morgan Inc., Enbridge Inc. and Pembina Pipeline Corp. Houston-based Kinder Morgan’s Canadian subsidiary, Kinder Morgan Canada Ltd., is developing the Trans Mountain Expansion. Kinder Morgan owns about 70 per cent of the voting interests of the Canadian unit. BCI does not hold shares in Kinder Morgan Canada.
Recent disclosures filed with the U.S. Securities and Exchange Commission show BCI has increased its exposure to Kinder Morgan in recent months even as the province has escalated its efforts to block the project, according to data gleaned by the Financial Post. The most recent SEC filings show BCI purchased an additional 21,214 shares during the fourth quarter of 2017 in Kinder Morgan, which recently suspended work on the pipeline.
The purchases bring BCI’s total stake in Kinder Morgan to 1,122,716 shares, a position worth more than US$18 million at current prices. BCI’s total net assets under management as of Dec. 31 were $135.5 billion.
B.C. Premier John Horgan declined to comment on what effect his government’s opposition to the pipeline expansion might have on BCI pension investments, which also include major oilsands producers Suncor Energy Inc. and Cenovus Energy Inc., both of which have signed up to ship oil through the expanded pipeline between Alberta and B.C.
B.C. organizations that support the pipeline described the government’s stance, given BCI’s investments in the sector, as “rank hypocrisy.”
“Even if you bike to work every day, your food and supplies are delivered to you via trucks using oil and gas and in many cases your retirement funds are directly tied to this vital industry,” Kris Sims, B.C. director of the Canadian Taxpayers Federation, said in an email. “The B.C. government needs to wake up to this reality and fast before they do further damage to Canadians.”
BCI manages the pensions for the province’s teachers, provincial government and municipal government employees and also manages assets for several B.C. government agencies and bodies. All told, BCI manages pension investments for 569,000 British Columbians as well as the insurance benefit funds for 2.3 million workers in the province through WorkSafe BC. Janice Toker, spokesperson for the Victoria-based Crown corporation, said in an email “we do not publicly discuss our investment strategy.”
A spokesperson for the provincial finance ministry said BCI “fulfills its investment role on behalf of pension boards without any direction or influence from the B.C. government or MLAs.” She confirmed BCI oversees investments for MLA’s pensions, which would include that of Horgan.
BCI’s largest energy holding is Irving, Texas-based Exxon Mobil Corp. The fund recently purchased 90,368 shares in the super major, bringing its stake to 2,035,641 shares, worth more than US$157 million.
A breakdown from Bloomberg shows 5.8 per cent of BCI’s public investments is in the energy sector, worth about $3.8 billion.
In recent months, BCI has spent millions of dollars buying up U.S. oil and gas equities, including oilfield services companies like Halliburton Co., Helmerich & Payne Inc., and Schlumberger Ltd., as well as shale producers Midland, Texas-based Concho Resources Inc., Oklahoma City-based Continental Resources Inc. and Houston’s Occidental Petroleum Corp.
“They’re playing the biggest service companies and the biggest production growth basin,” said Rafi Tahmazian, senior portfolio manager and director at Toronto-based Canoe Financial, of BCI’s recent purchase.
Many of the U.S. oil companies BCI has recently purchased have assets in the Permian basin in Texas, which is expected to lead global oil supply growth next year.
Tahmazian, who’s focus is on the oil and gas sector, also said that based on the composition of BCI’s biggest energy holdings, the fund seems to be taking a generalist or “index hugging” approach to the oil sector. BCI also recently increased its exposure to major U.S. producers such as Chevron Corp., Exxon, ConocoPhillips, Phillips 66, Exxon, and others. All told, BCI owns stock in more than 30 oil and gas companies.
“If the sector ran hard and they were not in energy because of political decisions, then they would be underperforming and they would be criticized,” Tahmazian said.
He also said it’s a good sign that BCI’s portfolio managers have made investing decisions rather than political decisions.
“There’s an irony that (BCI’s investment managers) with their investor policy statement is obligated to have energy exposure and when they go into it, without taking the time to understand the sector better, they’re owning the biggest of the big names and they happen to be on the front lines,” he said, noting the debate over an oilsands pipeline has divided the province.
In its annual report on ‘responsible investing’, BCI said it was a signatory to the Climate Action plan to “take action to reduce greenhouse gas emissions, consistent with the goal of the Paris Agreement to keep global temperature rise well below two degrees Celsius.”
The fund also said it voted in favour of a human rights shareholder proposals at meetings of both Enbridge and Marathon and urged them to report on the due diligence process they follow to identify environmental and social risks, including indigenous rights, when reviewing potential acquisitions.
“Shareholders are concerned that legal and reputational risks related to oil and gas projects
have grown steadily,” according to the BCI report.
Kinder Morgan Inc.’s proposed expansion of an oil pipeline to Canada’s Pacific Coast will never happen because local opposition to the project that’s dividing the nation is only going to intensify, according to the mayor of Vancouver.
“I don’t think this project will go — I really don’t — based on the resistance on the ground,” Gregor Robertson said in an interview Tuesday at Bloomberg’s headquarters in New York.
Kinder Morgan has threatened to walk away from the $7.4 billion (US$5.7 billion) project, setting a May 31 deadline for the federal government to neutralize opposition from a British Columbia government that’s vowed to use “every tool” to block it. Prime Minister Justin Trudeau, who’s staked his economic and environmental agendas on the pipeline, has pledged to get it completed to ensure landlocked Canadian crude flows to Asian markets.
The Canadian government is “determined that the pipeline will be built,” Natural Resources Minister Jim Carr reiterated to reporters in Ottawa Tuesday.
Legislation to push the project ahead remains an option, he said, without elaborating. The federal government, along with the province of Alberta, are considering financial support for the project, which would almost triple capacity on a line that ends in a terminal near Vancouver.
That solution shouldn’t count on local opposition giving way, according to Robertson, whose decade-long tenure as mayor of Canada’s third-biggest city ends in October.
“I don’t think the resistance on the west coast is going to fade — I think it will only intensify,” he said. “Escalation looks likely.”
A Nanos Research poll released this week indicated that while six in 10 Canadians want the project to proceed, an equal proportion are concerned that the dispute challenges how Canada functions as a federation. Alberta has threatened trade sanctions against neighbouring British Columbia, arguing that the pipeline bottleneck is costing Canada about $15 billion a year in discounted crude.
Kinder Morgan Canada Ltd. didn’t immediately respond to a message seeking comment.
Global Warming
For Robertson, 53, who presides over a city of 600,000 people where half the population takes transit, walks or rides a bike to work, the issue goes beyond a single pipeline in the fight against global warming.
“I think there’s a much bigger question here,” Robertson said. “We have to get off of fossil fuels. It’s really a question of how we implement that transition.”
Alberta’s oil and gas sector “represents such a tiny fraction of the overall economy and a job count,” whereas cities like Vancouver and Toronto are driven by newer technology and innovation-related sectors, he said.
The most strident opposition to the project has been centered in Vancouver and Victoria, British Columbia’s biggest cities, according to polls. Several indigenous groups have also voiced their opposition, though there is broad support in British Columbia outside the two urban centres. Two members of federal parliament were arrested in March for defying a court injunction banning protesters from disrupting construction at Kinder Morgan’s facility near Vancouver.
Asked if he was ready to be arrested to halt the project, Robertson said, “Potentially.”
“But I’d much rather see things de-escalate and a cooler heads prevail, which is why I haven’t — yet,” he said.
EDMONTON -- Alberta Premier Rachel Notley says she's confident talks aimed at getting construction of the Trans Mountain pipeline expansion back on track will be successful before a May 31 deadline.
Notley says she can't divulge details of talks with Kinder Morgan, but says they are focused on the financial viability of the $7.4-billion project and on getting construction restarted this summer.
"I want to assure Albertans that the discussions are focused on the only outcome that is acceptable to us and to a growing number of people across this country, including a majority in British Columbia, and that is the construction of the Trans Mountain pipeline," Notley said Thursday after revealing a new billboard ad campaign touting the line's benefits.
Alberta and Prime Minister Justin Trudeau's government are in discussions with the company to strike a joint financial arrangement to ensure the project gets built. Trudeau's government approved expansion of the Trans Mountain line in 2016, but the B.C. government has been fighting it.
Last month, Kinder Morgan stopped all non-essential spending on the project and said it wants assurances by the end of this month that the expansion can proceed.
The expansion would triple the amount of oil flowing from Alberta to tankers on the coast, which Alberta says is critical to reducing multimillion-dollar discounts on its product due mainly to pipeline bottlenecks.
The project has faced court challenges and permit delays in B.C. Premier John Horgan's government says it is concerned about the potential for oil spills on its waterways and coastline.
Notley has previously warned that B.C.'s delay tactics could bring consequences.
Her government is close to passing legislation that would give Alberta the power to restrict and redirect flows of oil, gasoline and natural gas to maximize profits. It would have the potential to cause gasoline and other fuel-related prices to spike in B.C.
Parties on both sides of the house voted on Wednesday to accept an Alberta Party amendment to put a two-year limit on the bill. The amendment gives the government the option to extend the bill after the two-year limit, but it would need to go back to the legislature for approval.
Energy Minister Marg McCuaig-Boyd told the house that two years is a reasonable time and the amendment doesn't tie the government's hands.
Notley wouldn't say if she will use the new powers ahead of or after the May 31 deadline.
"We do have a very big effective tool at our disposal. B.C. knows this and even more importantly, the federal government knows this," she said. "If we have to we will do whatever is required to get this job done and we will not hesitate. But we must be strategic."
Despite numerous high-profile She said polls suggest more British Columbians are backing the pipeline.
"We are winning hearts and minds in B.C.," she said. "So we must deploy this (bill) with a cool hand, not an angry one."
The bill is getting support from all sides of the house. Opposition United Conservative house leader Jason Nixon said his caucus is fighting to keep the bill on the floor to get it passed sooner.
"We've been trying to pass Bill 12 for a couple of weeks," said Nixon.
Alberta has passed legislation giving the province's energy minister the power to choke off gasoline shipments to British Columbia if that province continues to throw up barriers to the Trans Mountain pipeline expansion.
Bill 12 passed late Wednesday afternoon in the Alberta Legislature. David Swann, the Liberal for Calgary-Mountain View, was the only member of the legislature to vote against it.
Earlier Wednesday, Alberta Premier Rachel Notley used her strongest language yet about her intentions for the law, stating she was prepared to use it on short notice, if required.
"Albertans, British Columbians and all Canadians should understand that if the path forward for the pipeline through B.C. is not settled soon, I am ready and prepared to turn off the taps," she said.
Vancouver drivers are currently paying about $1.57 per litre for gasoline, and blocking shipments could push prices even higher, putting political pressure on B.C. Premier John Horgan.
Asked when she planned to take action, Notley declined to reveal details.
"With the greatest of respect, I'm not going to spell out the exact schedule and the exact steps," she said.
B.C. to mount legal challenge
In response, B.C. Attorney General David Eby sent a letter to Alberta Justice Minister Kathleen Ganley Wednesday urging the government to hold off proclaiming Bill 12 until a judge can determine its constitutionality.
"In the absence of such a commitment, I intend to instruct counsel to bring an action challenging its constitutional validity in the courts of Alberta," Eby wrote.
Notley also responded to an announcement Wednesday morning by federal Finance Minister Bill Morneau that Ottawa is willing to compensate backers of the Trans Mountain pipeline project for any financial losses due to political obstruction.
Morneau said Canada is willing to write Kinder Morgan — or whoever steps up to the plate — a cheque to ensure the Trans Mountain pipeline expansion gets built.
Notley ready to 'do whatever is necessary'
Notley said she remains confident construction will resume this summer. She said she speaks to Morneau every day, and Alberta officials are involved in the talks with Kinder Morgan.
The premier suggested different scenarios are at play.
"If framework one doesn't work, there may well be a framework two," she said.
Asked if her government is still willing to purchase the project, Notley said she will "do whatever is necessary" to get construction underway this summer.
Morneau's comments came just hours before Kinder Morgan Canada's stakeholders met in Calgary. The incentive offer comes two weeks before the company's potential drop-dead date.
Kinder Morgan has threatened to abandon the project if a clear path forward isn't reached by May 31.
Morneau consulted with senior officials in the Alberta government and Kinder Morgan CEO Steve Kean Tuesday night.
Last month, Kinder Morgan stopped all non-essential spending on its $7.4-billion project after a months-long standoff between the British Columbia and Alberta governments.
B.C. has been working to block the pipeline for environmental reasons over Alberta's objections.
The expansion would add a second pipeline along Kinder Morgan's existing pipeline route to carry diluted bitumen from Alberta to the B.C. coast for export on tankers.
Alberta passes bill 'to turn off the taps' to B.C. over pipeline delays
If pipeline issue not settled, Premier Rachel Notley says she is 'ready and prepared to turn off the taps'
Michelle Bellefontaine · CBC News · May 16, 2018
Alberta Premier Rachel Notley says she is confident construction on the Kinder Morgan pipeline will resume this summer.
Alberta has passed legislation giving the province's energy minister the power to choke off gasoline shipments to British Columbia if that province continues to throw up barriers to the Trans Mountain pipeline expansion.
Bill 12 passed late Wednesday afternoon in the Alberta Legislature. David Swann, the Liberal for Calgary-Mountain View, was the only member of the legislature to vote against it.
Earlier Wednesday, Alberta Premier Rachel Notley used her strongest language yet about her intentions for the law, stating she was prepared to use it on short notice, if required.
"Albertans, British Columbians and all Canadians should understand that if the path forward for the pipeline through B.C. is not settled soon, I am ready and prepared to turn off the taps," she said.
Vancouver drivers are currently paying about $1.57 per litre for gasoline, and blocking shipments could push prices even higher, putting political pressure on B.C. Premier John Horgan.
Asked when she planned to take action, Notley declined to reveal details.
"With the greatest of respect, I'm not going to spell out the exact schedule and the exact steps," she said.
B.C. to mount legal challenge
In response, B.C. Attorney General David Eby sent a letter to Alberta Justice Minister Kathleen Ganley Wednesday urging the government to hold off proclaiming Bill 12 until a judge can determine its constitutionality.
"In the absence of such a commitment, I intend to instruct counsel to bring an action challenging its constitutional validity in the courts of Alberta," Eby wrote.
Notley also responded to an announcement Wednesday morning by federal Finance Minister Bill Morneau that Ottawa is willing to compensate backers of the Trans Mountain pipeline project for any financial losses due to political obstruction.
Morneau said Canada is willing to write Kinder Morgan — or whoever steps up to the plate — a cheque to ensure the Trans Mountain pipeline expansion gets built.
Notley ready to 'do whatever is necessary'
Notley said she remains confident construction will resume this summer. She said she speaks to Morneau every day, and Alberta officials are involved in the talks with Kinder Morgan.
The premier suggested different scenarios are at play.
"If framework one doesn't work, there may well be a framework two," she said.
Asked if her government is still willing to purchase the project, Notley said she will "do whatever is necessary" to get construction underway this summer.
Morneau's comments came just hours before Kinder Morgan Canada's stakeholders met in Calgary. The incentive offer comes two weeks before the company's potential drop-dead date.
Kinder Morgan has threatened to abandon the project if a clear path forward isn't reached by May 31.
Morneau consulted with senior officials in the Alberta government and Kinder Morgan CEO Steve Kean Tuesday night.
Last month, Kinder Morgan stopped all non-essential spending on its $7.4-billion project after a months-long standoff between the British Columbia and Alberta governments.
B.C. has been working to block the pipeline for environmental reasons over Alberta's objections.
The expansion would add a second pipeline along Kinder Morgan's existing pipeline route to carry diluted bitumen from Alberta to the B.C. coast for export on tankers.
http://www.cbc.ca/news/canada/edmon...tley-kinder-morgan-morneau-response-1.4665443
Canada is willing to write Kinder Morgan — or anyone else who steps up to the plate — a cheque to ensure the Trans Mountain pipeline expansion gets built despite British Columbia's opposition, Finance Minister Bill Morneau said Wednesday.
Morneau said the federal government is willing to compensate the pipeline's backers for any financial loss due to British Columbia's attempts to obstruct the company's Trans Mountain pipeline expansion.
"The indemnification would allow Kinder Morgan to finish what they started, what they received federal and B.C. approval to do," he said Wednesday morning during a news conference that laid out in broad terms what his government is willing to do to move the project ahead.
Morneau's statement came just hours before Kinder Morgan Canada's stakeholders met in Calgary, and offers the company an incentive to proceed with the project just weeks ahead of its potential drop-dead date. Kinder Morgan has threatened to abandon the project if a clear path forward isn't reached by May 31.
"As a government we need to ensure that the rule of law is respected and that investors have the certainty needed to complete the Trans Mountain expansion project, because it's in the national interest to do so," Morneau said.
Morneau said that if Kinder Morgan bails on the project, the government would reimburse any financial losses related to B.C.'s political opposition incurred by any other investor willing to take the project on — as long as reimbursement is "sound and fair and beneficial for Canadians."
Morneau wouldn't say if there's a limit to how much the government is willing to spend to compensate the pipeline's backer.
"This is an exceptional situation," he told reporters.
It's also not yet clear if compensation would require new legislation.
"We are still considering all options, both financial and legislative ... It's too early to speculate on the mechanics of any future agreement," said Morneau's office.
Wednesday's news conference was the first detailed update on the government's efforts to save the controversial pipeline expansion since Prime Minister Justin Trudeau asked Morneau to work with Kinder Morgan to find a path forward.
Kinder Morgan 'appreciates' comments
It was announced late Tuesday night as Morneau consulted with senior officials in the Alberta government. Morneau also spoke with Kinder Morgan CEO Steve Kean by phone to tell him what he would be saying at the press conference.
After the 16-minute meeting of stakeholders in Calgary, Kean said he wouldn't negotiate in public.
"We appreciate [Morneau's] recognition that a private company cannot resolve differences between governments," read a statement from the company.
"We remain steadfast in our previously stated principles: clarity on the path forward, particularly with respect to the ability to construct through British Columbia, and ensuring adequate protection of our KML shareholders."
Alberta Premier Rachel Notley praised the government's decision.
"From the beginning, pipeline opponents have sought to exhaust investors into submission by throwing up legal roadblocks. That strategy doesn't work if the project is backed by the Canadian people," she told reporters in Edmonton.
Conservative Leader Andrew Scheer, however, was quick to criticize.
"Only Justin Trudeau could take a project that Canadians support, creates thousands of jobs and helps our economy, and put it on taxpayer-funded life support," he tweeted.
"This is a failure to lead."
'A lot to lose'
Last month, Kinder Morgan stopped all non-essential spending on its $7.4 billion project over a months-long standoff between the British Columbia and Alberta governments. B.C. has been working to block the pipeline for environmental reasons, over Alberta's objections.
The expansion would add a second pipeline along Kinder Morgan's existing pipeline route to carry diluted bitumen from Alberta to the B.C. coast for export on tankers.
A senior Alberta government official told CBC News late Tuesday that "Kinder Morgan is not making this easy."
The official, who spoke to CBC News on condition of anonymity, said there is "a lot to lose right now."
Shots at Horgan
Morneau laid most of the blame for the delay at the feet of British Columbia Premier John Horgan, calling his opposition "politically motivated."
"Premier Horgan's stated intentions are to do whatever it takes to stop the project, which is unconstitutional in its very purpose," Morneau said. "These are challenges that frankly put the livelihood of thousands of Canadians and their families at risk."
The Liberal government signed off on the project back in 2016 while promising to rewrite the country's environmental assessment process.
Then-B.C. premier Christy Clark gave her consent to the project after her conditions were met, but her Liberal government was toppled by an alliance between Horgan's NDP and Andrew Weaver's Green Party.
Speaking to reporters following an event in Vancouver, Horgan fired back at Morneau over his characterization of the dispute.
"I think that is rhetoric and hyperbole on his part. There are fundamental challenges to that project that he well knows," Horgan said.
"For a Toronto-based finance minister to single out British Columbia as a problem here, he should look at the failure of Energy East, he should look at the failure of Keystone and a whole host of other projects."
Horgan said his government is acting within its right to defend British Columbia's environment and coast.
B.C. has filed a reference case with the province's top court to determine if it has jurisdiction to limit expanded shipments of heavy oil through the province.
Meanwhile, B.C.'s Attorney General David Eby wrote to his counterpart in Alberta Wednesday, warning that if Notley's government uses a newly-passed law to restrict the flow of oil in to B.C., his government would take Alberta to court.
'Absolutely, fundamentally incorrect'
Federal NDP Leader Jagmeet Singh made his thoughts on the pipeline known on Twitter, aligning himself with B.C.'s NDP government and distancing himself from the NDP premier in Alberta.
"Rigged process, First Nations and local communities shut out, oil spill threats, science ignored and now billions on the line. It's clear this pipeline should not be built," he tweeted.
Notley said Singh's opinions aren't a big consideration in her daily life.
"I think Jagmeet Singh is absolutely, fundamentally ... incorrect in every element of that tweet," she said.
Morneau's update comes as the May 31 deadline draws closer — and less than 24 hours after the prime minister gave an evasive answer on the state of project talks during a visit to Calgary on Tuesday.
"We continue to work very, very hard, both visibly and behind the scenes," Trudeau said to reporters.
"When we have something to announce, you guys will be the first to know."
B.C. Premier John Horgan insists: “I do not believe I have been provocative in any way.”
Really. He said that.
Surrounded by wildly provoked neighbours, he denies he’s the kid who broke the window.
Federal Finance Minister Bill Morneau blasted Horgan a half-dozen times Wednesday, by name, accusing him of blocking the Trans Mountain pipeline with “unconstitutional” tactics.
The federally approved pipeline “is being thwarted on purpose by Premier Horgan,” Morneau said, rejecting the premier’s argument that B.C. is just testing its powers in the courts.
“This is impossible for a private-sector actor to deal with,” Morneau added.
Morneau was careful not to censure Horgan’s province or its people. He blamed only the man and his party, the NDP.
Then he praised Premier Rachel Notley for Alberta’s climate-change plan, especially the hard cap on oilsands emissions.
Prime Minister Justin Trudeau first tested the attack mode in February, in a curious interview with the online publication The National Observer.
“John Horgan is actually trying to scuttle our national plan on fighting climate change,” Trudeau said.
“By blocking the Kinder Morgan pipeline, he’s putting at risk the entire national climate-change plan.”
It sounded like the start of an aggressive campaign. But the personal rhetoric quickly softened. The feds worried about provoking a pro-Horgan backlash.
Three months later, it’s clear that support for the pipeline is rising in B.C. Horgan seems increasingly isolated. Kinder Morgan’s artificial deadline, May 31, has amped up the stakes for everyone, especially Ottawa.
Morneau cut loose at Horgan, even as he threw the whole pipeline deal onto the open market.
“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 interests of Canadians and is willing to provide indemnity to make sure it gets built,” he said.
The timing on Wednesday — just an hour before Kinder Morgan Canada held its annual general meeting in Calgary — wasn’t just a hint. It was more like a slap in the face.
The feds aren’t as irritated by Kinder Morgan as they are by Horgan; but it’s getting close.
They have not been happy with apparent company efforts to push up the price as we approach its deadline.
On Wednesday, Morneau showed that Ottawa isn’t about to pay just any amount to keep Kinder Morgan on the job.
He also signalled that the company’s May 31 deadline may not be absolute after all.
What investors would be qualified to take over?
We could start with Enbridge Inc. and Trans Canada Corp., both headquartered in Calgary. It’s been reported that Enbridge is already involved in talks.
Listen hard and you might hear the hoots of laughter from downtown offices.
Both companies have been denied tidewater pipelines by the Trudeau government. Enbridge lost Northern Gateway to federal cancellation. Trans Canada abandoned Energy East after Ottawa said downstream emissions would count against the project.
Now Ottawa might offer up a Trans Mountain project all approved and primed to go, along with the promise of federal money to offset political hostility.
This would be an irony served on a silver platter, with a bow on top.
Also on Wednesday, the Alberta government passed Bill 12, which allows control over oil and gas exports and thus strangulation of supply to B.C.
B.C. has said for some time it will sue.
The argument from Horgan’s side is that a legal dispute can’t be resolved by inflicting harm on another province through trade sanctions.
But doesn’t that exactly describe what Horgan has already done to Alberta, with anti-pipeline actions that severely damage the provincial economy? Isn’t blocking an approved pipeline the ultimate trade sanction?
Both the Trudeau government and Notley’s NDP have had it with this guy. Ottawa, especially, will have more in store for John Horgan.
On Wednesday, the B.C. Liberals demanded temporary tax cuts to ease astronomical gasoline prices on the Lower Mainland.
As of 5 p.m. Wednesday, the cheapest 10 stations in Vancouver were all charging above $1.50 per litre. Just as ruinous supply cuts become a real possibility.
Despite all this, John Horgan seems to think he’s doing just fine. It’s very strange.
Should Alberta’s government use its new powers to throttle back oil shipments to British Columbia, the coastal province plans to be in court that same day to seek an immediate injunction, and is looking to source its oil needs from the State of Washington.
B.C. Attorney General David Eby said Friday that Victoria’s primary response is to seek legal remedies to the law Alberta passed this week – which would allow politicians in Edmonton to control the flow of oil, natural gas and refined products out of province in response to B.C.’s opposition to the Trans Mountain expansion proposed by Kinder Morgan Canada Ltd.
British Columbia’s secondary plan is to backfill a shortage of fuels such as gasoline and diesel from the United States, and Eby said the provincial government is in discussions with Washington state in preparation.
“There has been work done with Washington state in identifying additional reserves that we might be able to use in the unlikely event that Alberta actually attempts to use this unconstitutional legislation,” Eby said.
B.C. Supreme Court rejects bids to stop Trans Mountain pipeline expansion
May 24, 2018
The City of Vancouver and Squamish Nation have lost legal challenges aimed at quashing an environmental assessment certificate issued by the British Columbia government for the Trans Mountain pipeline expansion.
VICTORIA — The City of Vancouver and Squamish Nation have lost legal challenges aimed at quashing an environmental assessment certificate issued by the British Columbia government for the Trans Mountain pipeline expansion.
The B.C. Supreme Court issued separate written judgments today in the cases.
The previous B.C. Liberal government issued the certificate in January 2017, about two months after the federal government gave the project the green light.
The city argued the province failed to engage in proper public consultation or take into account relevant environmental considerations in seeking an order to set aside the certificate.
But Justice Christopher Grauer ruled the province’s decision to issue the certificate was reasonable as he dismissed the petition and ordered the city to pay costs to Trans Mountain, a subsidiary of Kinder Morgan Canada.
He also found the province conducted appropriate and sufficient consultation with the First Nation.
The judge said in the city’s case, the B.C. government took a “very limited position and made no submissions on the merits of the judicial review.”
The province’s NDP government opposes the pipeline. Premier John Horgan said his government reviewed the litigation after it took power last summer and received legal advice that it had a responsibility to defend the integrity of the Crown.
“We found ourselves on the opposite side of Squamish and Vancouver,” he said.
Since the NDP came to power last summer, the provincial government has also joined a legal challenge of the federal approval of the pipeline expansion, which was heard by the Federal Court of Appeal last fall. A decision has not yet been released.
http://calgarysun.com/news/national...ids-to-stop-trans-mountain-pipeline-expansion