Jason Kenny, once known as "Mr Fix-it" as a cabinet minister in the previous federal Conservative government is now leader of the provincial United Conservative Party (UCP) in Alberta, which currently sits in the opposition.
Kinder Morgan has halted essential spending on the project and says it will cancel it altogether if the national and provincial governments can not guarantee it.
Speaking in Calgary, Trudeau says his government is looking at legislative, legal and financial avenues to get the federally-approved Trans Mountain project moving.
"We have very sophisticated Canadian pension funds and institutional investors that have a high level of understanding of how you embark on infrastructure projects and a great deal of experience around the world in bringing those projects to completion", Morneau told Reuters in an interview.
On Thursday in Toronto, the Finance Minister, who has yet to fully explain how an indemnity would work, said Canadians should think of it like insurance.
The $7.4-billion Trans Mountain project would triple the flow of heavy oil from Alberta to Burnaby, B.C. Premier John Horgan has proposed measures that would threaten the Trans Mountain expansion. "Like any insurance, it will have a premium attached to it".
The Finance Minister responded by saying he believes the approach Ottawa is taking would preclude any big bailout by taxpayers.
Morneau said if Kinder Morgan doesn't want to jump on board, there are plenty of others who will, but didn't say whom.
"We actually think this is a project that can be done on commercial terms and we're trying to find a way that ensures that happens".
As is often the case with an announcement from this government, the potential cost of compensating Kinder Morgan isunknown.
"Our tax money should not be funding this project", said Mivasair, founder of the grassroots Justin Trudeau Brigade who staged numerous blockades at the Kinder Morgan's Westridge Marine Terminal in Burnaby."If Kinder Morgan can't raise the capital in the open market because people who manage investments judge this to be a bad risk, the government of Canada should not be stepping in to save them with our money".
Moe says without better market access Saskatchewan may not be able to continue contributing to equalization.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, April 18th. Barclays dropped their price target on Kinder Morgan from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, April 17th. "Therefore, [it] will have nothing to say on Mr. Morneau's comments". According to Trans Mountain's website, the expansion is expected to add $73.5 billionin revenues over the next 20 years for Canada and create 37,000 jobs.
She says if the impasse is not resolved soon, she is, in her words, "ready and prepared to turn off the taps". BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,122,716 shares of the pipeline company's stock valued at $20,287,000 after buying an additional 21,214 shares in the last quarter.
The government has asked the BC Court of Appeal for a declaration on whether or not it has the constitutional power to do so.