In an act of "immense moral cowardice" that once again betrays his expressed commitment to helping confront the global climate crisis, Canadian Prime Minister Justin Trudeau announced on Tuesday that his government will purchase Kinder Morgan's "climate-destroying" Trans Mountain pipeline for $4.5 billion.
Kinder Morgan had set a Thursday deadline to gain certainty over the project or abandon it altogether.
Horgan, for his part, said the change in ownership does not change his party's stance on the pipeline, nor his concerns with the project.
Finance Minister Bill Morneau believes Canada's authority to build the pipeline will be able to overcome any resistance, be it from protesters or the B.C. government. It's actually better for Kinder Morgan than it is for Canada.
Asked whether or not the pipeline issue is a personal one between him and Prime Minister Justin Trudeau, the BC Premier said that has never been the case.
The fact the federal government needed to buy Trans Mountain to ensure the project goes ahead does not bode well for the industry, said Chris Bloomer, CEO of the Canadian Energy Pipeline Association.
Back in Ottawa, Morneau told reporters construction on the project will resume this summer.
The federal government insists the project falls under its jurisdiction.
Putting $11-billion of taxpayers money into a project that is counter to the Paris Climate Agreement, Jansen says, has them wondering if that's the direction Canada should be heading in.
And the bill for taxpayers won't be $4.5 billion as Morneau claims, but much closer to $20 billion, says economist Robyn Allan.
Kinder Morgan Canada, the unit that raised C$1.75 billion (US$1.3 billion) for the project in an initial public offering past year, declined to comment on the speculation.
"After a decade of the Harper government, I thought he was a dream come true", Ms. Berman said on Tuesday, echoing the outraged disappointment of environmentalists and Indigenous leaders who have vowed to continue the fight.
Morneau says it is not the Government of Canada's intent to be a long-term owner of the pipeline and it will work with investors to transfer the project and related assets to a new owner to ensure the project operates in the public's interest. A sardonic Craigslist user has put the controversial Kinder Morgan Trans Mountain expansion up for sale.
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.
In this case, construction of the Trans Mountain expansion-assuming a private sector buyer isn't found immediately-will be in the hands of a federal Crown corporation.
Canada loses $15 billion every year on the sale of oil because the USA remains its only export customer, resulting in a lower price, Trudeau argues.
The forecast price of oil, in particular, West Texas Intermediate which is averaging at US$70 a barrel could be an "upside risk to the forecast", the report said.
The pipeline has become a flash point for a wider debate in Canada over the environmental impact of tapping Alberta's oil sands, which critics view as a particularly polluting energy source.
Now the Canadian government is stepping in to make sure the pipeline is completed over the objections of environmentalists, especially those in the Vancouver area who are anxious about increased shipping traffic and the possibility of spills along the coast.