Bloomberg news compares Kinder-Morgan's proposed expansion of the existing Trans-Mountain to the proposed Keystone XL Pipeline and its an appropriate comparison. The expansion of Trans-Mountain would provide about 75% of Keystone XL capacity to move Bitumen from the Alberta Tar Sands to deep water ports for shipment overseas.
Keystone 2.0: How mounting opposition is threatening Kinder Morgan Trans Mountain project
By Jeremy van Loon and Rebecca Penty
The next fight over oil pipeline development in Canada is starting to look like Keystone XL version 2.0. This time the target is a US$4.9 billion project by Houston billionaire Richard Kinder energy empire.
Kinder Morgan Energy Partners expansion of the Trans Mountain conduit linking the oil sands to the Pacific is facing the same kind of backlash that turned TransCanada Corp. proposed line to the Gulf Coast into a proxy battle against climate change. As with Keystone, Trans Mountain opponents argue it would boost development of the oil sands, Canada fastest-growing source of carbon emissions.
Vancouver, with its declared goal of becoming the world's greenest city by 2020, took Canada's energy regulator to court last month over the exclusion of climate impact from the Trans Mountain review. Aboriginal groups meanwhile are challenging the board's right to make a decision affecting their lands, and the Vancouver suburb of Burnaby's attempt to prevent a land study contributed to a seven-month delay that pushed the estimated startup into 2018.
The environmental movement has realized that one front in the climate change battle is trying to delay or deny pipelines, said Jason Stevens, a Chicago-based analyst at Morningstar Inc. who rates the stock a hold. If it gets stymied out for a long, long time, its a big chunk of cash flow five years out that won't materialize.
No 'Game Over'? Cash flow that won't "materialize"? Poor babies!
Vancouver, home to Canada'Âs largest port, is concerned global warming will affect the coastal city as studies such as a recent United Nations report show global sea levels could rise by as much as 7 meters (23 feet) with the melting of the ice sheet covering Greenland. About 70% of residents are opposed to the Trans Mountain expansion, with the risk to the environment cited as the top concern, according to a survey on the city'Âs website that started in June.
What's the matter with these people in Vancouver? Preventing someone's cash flow from materializing to keep your waterfront from being flooded is just silly! Right?
Kinder-Morgan has been less than forthcoming with the city of Vancouver.
With a $5 Billion Pipeline Project, Canada Looks to Bypass U.S. for Asia
VANCOUVER - Kinder Morgan has failed to answer many of the questions put to the company about its proposed Trans Mountain pipeline through the regulatory review process, charge a chorus of critics that includes the province of British Columbia and the city of Vancouver.
The city submitted 394 written questions as part of the National Energy Board's regulatory review process but said the Texas-based company did not respond to 40 per cent of them, covering everything from emergency management plans to compensation in the event of an oil spill.
The Canadian Supreme Court just gave Canada's First Peoples much moore control over their traditional lands, complicating winning approval for the route of the Trans Mountain expansion where is crosses First People's lands.
Pivotal ruling by Canada's Supreme Court gives First Nations title to traditional lands
This momentous ruling has direct implications for some of Canada's biggest planned dirty energy projects, like the proposed Northern Gateway Tar Sands pipeline project to ship Bitumen across British Columbia to the Pacific Ocean near Prince Rupert, and the proposed expansion of the Trans Mountain Pipeline to ship Alberta Bitumen to Vancouver transforming Vancouver into a major oil port for Bitumen.
With a $5 Billion Pipeline Project, Canada Looks to Bypass U.S. for Asia
By EDWARD WELSCH
The Trans Mountain line already ships a small amount of crude to Vancouver from Alberta. The expansion will increase that volume to 850,000 barrels a day from 300,000 barrels a day currently. The boost will allow Asian buyers to load Canadian crude in significant volumes in Vancouver and ship it across the Pacific in tankers. The project also envisions an expansion at the pipeline's terminal in Vancouver, which will allow more tankers to take on oil.
The fight against the expansion of the Trans Mountain Pipeline is every bit as critical as the fight against Keystone XL. Both would spell 'Game Over' for the planet.
