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May 17, 2018

Canada says it'll cover losses in bid to get pipeline built

  • Kinder Morgan has halted essential spending on the project and says it will cancel if the national and provincial governments cannot guarantee it.
  • By ROB GILLIES
    Associated Press

    TORONTO — Canada's federal government will cover financial losses a pipeline builder might suffer if British Colombia's provincial government continues to obstruct the Trans Mountain pipeline expansion, the country's finance minister said Wednesday.

    Finance Minister Bill Morneau also said that other investors would step in if Houston-based Kinder Morgan backs out of the expansion, which would triple the capacity of a line carrying oil from Alberta to a Pacific port.


     
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