Canada says it will cover losses in bid to get pipeline done

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Canada's finance minister said his plan to indemnify Kinder Morgan Inc. against losses on its Trans Mountain expansion project would be carried out in a commercially viable way.

The town is reporting that more than 7,000 stray cats call Cornwall home.

Media stories about Kinder Morgan (NYSE:KMI) have been trending somewhat positive recently, Accern reports. Kinder Morgan threatened to scrap the project entirely if disagreements couldn't be resolved by May 31.

Stubbs, Conservative shadow minister for natural resources, reacting to the federal government's financial commitment to complete the Trans Mountain Expansion, said on Wednesday: "Only Prime Minister [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".

As is often the case with an announcement from this government, the potential cost of compensating Kinder Morgan isunknown.

But the B.C. government has gone to court to determine if it can block the project over environmental concerns.

However, the company saw a boost in support on Wednesday, as more than 100 people gathered outside Kinder Morgan's annual general meeting in downtown Calgary to stand behind the Trans Mountain line.

"Mr. Morneau and Mr. Trudeau know we're acting legally, correctly within our constitutional jurisdiction", Heyman said, noting B.C. continues to issue work permits for the project in a fair and responsible way.

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Officials told the Star the federal government doesn't have any hard offers but has clear indications of other investors' interest in taking over the project even without the offer of indemnification. Nor did he rule out the possibility that Ottawa could take a financial stake in the project to ensure it becomes a reality.

"The Prime Minister can act now and make use of tools available to his government, like withholding of infrastructure funding to British Columbia to get this pipeline built".

Moe says without better market access Saskatchewan may not be able to continue contributing to equalization. Goodman Financial Corp acquired a new position in Kinder Morgan during the 4th quarter worth approximately $126,000.

"While discussions are ongoing, we are not yet in alignment and will not negotiate in public", Kean said.

The pressure is being turned up in the standoff that has Alberta and B.C. premiers, the federal government, and some First Nations groups in B.C. fight over oil.

In April the company announced it was suspending all non-essential activity and spending on the pipeline, in part due to "the continued actions in opposition to the project by the Province of British Columbia".

Entitled "Preserving Canada's Economic Prosperity Act" and officially known as Bill 12, the government said the goal of the bill is meant to give the province the power it needs to to restrict the export of crude oil, natural gas and refined fuels into BC.

"Albertans, British Columbians, and all Canadians should understand that if the path forward for the pipeline through not settled soon, I am ready to turn off the taps", she said. "It's really a message to Alberta that it should be referred to the courts as we referred our bill to the courts".