Pipelines To US Increasingly Likely As Trans Mountains Fate Uncertain

Pipelines To US Increasingly Likely As Trans Mountain\s Fate Uncertain
Optimism among builders slides for fourth consecutive month
NEW YORK, N.Y. – Homebuilder confidence is sliding for the fourth consecutive month as steadily rising mortgage rates and sky-high home prices put ownership out of reach for more Americans.

The National Association of Home Builders/Wells Fargo builder sentiment index for April, released Monday, fell one point to 69. Any reading above 50 indicates more builders see sales conditions as good rather than poor, but it’s the longest decline since the housing bust.

Trudeau’s plane touched down in Paris early Monday local time. He was supposed to fly to the French capital directly from Peru—where he attended the Summit of the Americas on Friday and Saturday—before he decided to sit down with Alberta Premier Rachel Notley and B.C. Premier John Horgan on Parliament Hill.

Builders’ view of current sales conditions fell two points to 75, the outlook for sales over the next six months fell one point, to 77. A measure of buyer traffic held steady at 51.

Video: Canada stands with allies on Syria strikes: Trudeau

The average rate on 30-year, fixed-rate mortgages edged up to 4.42 per cent, mortgage buyer Freddie Mac reported Thursday.

OTTAWA—Prime Minister Justin Trudeau has arrived in France as he continues more than a week of globetrotting following a brief stop in Ottawa Sunday to discuss the Trans Mountain pipeline crisis with the premiers of Alberta and British Columbia.
Optimism among builders slides for fourth consecutive month
Optimism among builders slides for fourth consecutive month

In the news today, April 16

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The two leaders are also expected to talk about Mali, where France has been leading a counter-terrorism mission for several years and where Canada is preparing to send six military helicopters to help with the local UN peacekeeping mission.

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The visit comes only days after France joined Britain and the U.S. in launching airstrikes against the Syrian government for an alleged chemical-weapon attack this month that killed at least 40 people and left hundreds more injured.

Video: Canadian PM Trudeau visits France, aiming to boost trade ties

Trudeau Fails to Ease Provincial Rift Over Kinder Pipeline

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Trudeau pledges money, new law to make Trans Mountain happen, without details
Trudeau pledges money, new law to make Trans Mountain happen, without details

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Trudeau has voiced support for the joint airstrikes. He will have a chance to discuss Syria and Russia, which has emerged as Syrian President Bashar Assad’s strongest backer, when he meets with Macron on Monday.

Video: Trudeau pledges to push Trans Mountain pipe line forward

Prime Minister Justin Trudeau says he has instructed his finance minister to enter negotiations with Kinder Morgan to remove the uncertainty hanging over the Trans Mountain pipeline expansion.

Video: Trudeau pledges to push Trans Mountain pipe line forward

Trudeau also says federal legislation is coming that will reassert and reinforce the fact that the federal government is well within its jurisdiction to approve the $7.4 billion project and ensure it goes ahead.

Finally, he says hes willing to expand and improve upon his governments $1.5 billion oceans protection plan in an effort to ensure the most stringent protections are available to reassure British Columbia its coasts are not at risk.

Politics This Morning: House resumes sitting, Trudeau in Paris

Hes offering few details, however, saying the negotiations will not take place in public. Despite that, it is the most concrete Trudeau has been yet about how his government intends to solve the impasse that led Kinder Morgan to suspend all non-essential spending on the expansion project pending reassurance from Ottawa the pipeline will be able to go forward.

Ideally, we wouldnt be in this situation right now, Trudeau told a news conference Sunday after a closely watched, last-minute meeting with B.C. Premier John Horgan, who is blocking the project, and Alberta Premier Rachel Notley, who desperately wants to see it go ahead.

Trudeau’s message will include highlighting the potential benefits of the new Canada-European Union free trade deal, which came into force in September.
In the news today, April 16
In the news today, April 16

Albertas opposition party leaders blast Trudeau, Notley for lack of progress with Horgan on pipeline issue

Trudeau would not go as far as others to call the pipeline impasse a constitutional crisis but laid all the blame for the situation at Horgans feet. The pipeline was approved in 2016 with the support of the former B.C. Liberal government of Christy Clark. Horgan defeated Clark in an election last year.

That could go on for well over a year, and we effectively have until the end of May when the board of Kinder Morgan will make a decision as to whether to go ahead, and the strategy of the B.C. government has been to kill the project by delay, Beatty said. It would not necessarily just be the federal government, Alberta and British Columbia that are parties to it. Other provinces and interested groups could also decide to join and make the process even lengthier.
In the news today, April 16
In the news today, April 16

Yedlin: Pipeline summit proves a positive step

I dont think its any surprise to anyone that I dont think we would be in this situation if the British Columbia government hadnt continued to emphasize its opposition to the project, Trudeau said. That is why we are at this point right now.

In the news today, April 16
In the news today, April 16

The big pipeline predicament: how far will Trudeau go to get it built

Although both Horgan and Notley came out of the meeting saying it was collegial and cooperative, neither is coming out of their entrenchments. Horgan said the promised court reference question to verify what jurisdiction, if any, B.C. has over the pipeline and its contents, is coming within days.

Day was particularly alarmed by a recent Globe and Mail oped column written by Okanagan Nation Grand Chief Stewart Phillip and Mohawk Council of Kanesatake Grand Chief Serge Simon. They wrote that if the federal government tries to ram through this pipeline, it could mean going back to one of the darkest times in modern Canadian history: the Oka standoff with the Mohawk Nation.

Graham Thomson: Emergency pipeline meeting in Ottawa ends with a whimper not a bang

He said hed hoped to have it done earlier but these questions are complicated and take time to put together right.

Join Alberta, Ottawa looking to eliminate investor risk by investing in Trans Mountain pipeline project. Photo by Roy Luck, Creative Commons licensed. The emergency summit between Prime Minister Justin Trudeau and British Columbia and Alberta premiers John Horgan and Rachel Notley Sunday failed to end the standoff over Kinder Morgans Trans Mountain pipeline expansion.

Sunday summit: Trudeau pledges money, new law to make Trans Mountain happen

Notley said legislation she promised that will allow it to alter flows of oil through the existing Trans Mountain pipeline into B.C. is going to be introduced in the Alberta legislature this week. Analysts suggest that could hike gas prices in the Lower Mainland over $2 per litre and would have an immediate, economy-wide impact on the province.

In principle, I dont believe its the role of government to run a pipeline, said Perrin Beatty, president and chief executive officer of the Canadian Chamber of Commerce. Its the role of government to ensure that all regulatory requirements are met, that the public interest is respected, and that its possible for the private sector to run its business.

Trudeau said while his government is committed to working with both premiers to find a solution, we must recognize that they remain at an impasse which only the government of Canada has the capacity and the authority to resolve.

This stuff about Alberta blocking oil shipments going to British Columbia is just utter garbage. The province of Alberta is not a shipper on that pipeline, so theres no oil it can hold back. To do so would require all the companies to collude together, which seems completely contrary to the political culture there, much less the business interests at stake.

The legislation is expected to reassert, in addition to the Constitution, Ottawas authority over pipelines. This is a bid to try and take the wind out the sails of Horgans court challenge.

In an open letter on Saturday, Jean-Marc Fournier, Quebecs minister responsible for Canadian relations, wrote that the recent assertions of federal representatives regarding the Trans Mountain pipeline, which refer to an exclusive application of federal rules, are detrimental to a proper resolution of this issue and raise concerns for the future.

Financially the government has options that include assuming some of the investors risk or finding a way to guarantee investor returns on schedule. Trudeau said he is not ready to say Canada is buying the pipeline outright or even putting in an equity stake. He said whatever financial arrangement is reached will include protections for taxpayers.

In a democratic society, if you dont like the laws that are in place, you work to change them. Thats the essence of stability and peace. Anything else leads to anarchy, said Day, an Alberta cabinet minister before entering federal politics. This project has passed all of the environmental, legal and constitutional requirements.

We engaged in financial discussions with the pipeline owner, Kinder Morgan, he said. This is a series of discussions that are happening in Calgary, Toronto, Houston and New York. They wont happen in public. As soon as we have something to announce I promise you we will let you know.

Beatty said the Trudeau government should introduce a motion in the House of Commons that would seek an affirmation by all members of Parliament that this project is in the national interest, and that the federal government is instructed to take any appropriate measures to ensure that the project moves ahead without further delay.

Horgan said hed received assurances from Trudeau that he would not punish British Columbians over their governments objections, meaning Ottawa isnt going to be withholding federal funds from B.C. in an effort to get the Horgan government on side.

Canadas Trudeau pledges money, new law to ensure contentious pipeline is built

Trudeau said he is also willing to discuss with Horgan additional environmental protections that could give B.C. confidence over its shorelines and marine environments, but accused Horgan of refusing to tell him for nearly a year what gaps Horgan feels exist in the existing or promised protections under the Oceans Protections Plan.

Canadian Prime Minister Presses For Pipeline

Trudeau said recently he would not have approved the pipeline if he wasnt convinced the environment was protected and said he has been consistent for years that he believes the environment and the economy go together and can both be managed for the benefit of all Canadians.

Lee said if the Alberta government believes the only way to create jobs is by increasing the production and export of fossil fuels, it should be investing in better refining capacity to avoid shipping diluted bitumen, which poses greater risks in ocean spills and has limited markets.

That is exactly what we are doing, he said of the Trans Mountain salvage plan. We are simply demonstrating the resolve to actually deliver on that promise to Canadians.

Trudeau also said all of this is being done with a view to allowing Kinder Morgan to proceed on schedule. Construction on the pipeline expansion itself has yet to begin and needs to start by the end of May if the companys plan to get the oil flowing through it by the end of 2020 is to work.

Hence why May 31 is also the deadline the company gave the government to restore investor confidence in the project.

Notley seemed quite happy with the outcome of the meeting and said she is confident the nature of the financial discussions taking place with Kinder Morgan will be enough to overcome investor concerns.

Im quite confident that should these discussions end successfully, that the pipeline will be built _ and that is good, because the pipeline is in the national interest.

Horgans news conference was barely over before Conservative Leader Andrew Scheer was at the podium, laying the blame for the impasse squarely at the prime ministers feet.

His damaging policies … have only led to more uncertainty and instability in Canadas resource sector, Scheer said.

Canadas Trudeau pledges money, new law pipeline happen

The energy sector, Scheer said, is now convinced that Justin Trudeau does not want their business in Canada.

Trudeaus cabinet approved the pipeline in 2016, following an interim environmental review process that included assessing things such as the emissions that will be created from producing additional fossil fuels that will flow through it. The cabinet decided the project, which will build a new pipeline that runs parallel to an existing one but can carry twice as much, was in the national interest.

The meeting, convened at the last minute Thursday as Trudeau was departing for the Summit of the Americas in Peru, marked the first time the three leaders have all been in the same room together to hash out the dispute.

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