Kinder Morgan’s IPO: Risk > Reward
Kinder Morgan’s risky Trans Mountain Pipeline expansion just got a whole lot riskier, just as the company was taking steps to offload some of that risk onto Canadian investors.
Kinder Morgan’s risky Trans Mountain Pipeline expansion just got a whole lot riskier, just as the company was taking steps to offload some of that risk onto Canadian investors.
The historic NDP/Green alliance in British Columbia has committed to "Immediately employ every tool available to the new government to stop the expansion of the Kinder Morgan pipeline, the seven-fold increase in tanker traffic on our coast, and the transportation of raw bitumen through our province."
In light of this commitment, many people have been asking: “What can BC do about Kinder Morgan?”
In our opinion, the relevant question is not: “Does BC have tools to stand up to Kinder Morgan?” Rather, it is: “What are the best tools for BC to stand up to Kinder Morgan?”
British Columbia has over 27,000 kilometres of coastline, and more than 170 cities, towns and villages along the coast, with around 75% of our population living in the Lower Mainland and southern Vancouver Island. Sea level rise is a big deal in British Columbia.
On May 12, 2017, the federal government introduced Bill C-48, the Oil Tanker Moratorium Act, for first reading in Parliament. You could say that the Act has been almost half a century in the making. So, is it a win? Keeping in mind the old adage, “don’t let the perfect be the enemy of the good,” we say yes, the Oil Tanker Moratorium Act is definitely worth supporting, and celebrating.
Yawn. Late last night, I watched the election results come in during a nail-biter of an election, and tried (eventually successfully) to get my 11-year old daughter – an ardent Green Party supporter – to go to sleep.
VANCOUVER, BC, Coast Salish Territories – A new backgrounder released today by West Coast Environmental Law Association outlines concrete legal strategies that British Columbia could employ to stand up to Kinder Morgan and defend the environment, communities and the climate from the risks associated with the proposed Trans Mountain pipeline and tankers project.
VANCOUVER, BC, Coast Salish Territories – The Tsleil-Waututh Nation has launched a new campaign targeting potential investors in the Kinder Morgan pipeline highlighting the legal and political risks of the proposed Kinder Morgan pipeline ahead of the company's IPO.
"We want to make it clear to anyone considering investing in this controversial project just how risky of an investment that would be," said Charlene Aleck, elected Tsleil-Waututh Nation Councilor and a spokesperson for the Nation's Sacred Trust Initiative.
VANCOUVER – Environmental lawyers are congratulating the federal government on the introduction in Parliament today of the proposed Oil Tanker Moratorium Act, which marks a critical step forward in efforts to protect the north Pacific coast from the risk of oil spills.
“West Coast Environmental Law Association has spent decades advocating for a strong, legislated oil tanker ban, and we applaud the federal government for following through on its commitments to entrench this moratorium in law,” said Gavin Smith, Staff Counsel.
“Dear Chevron – you may have noticed that I’ve been melting a little faster of late, because of fossil fuel pollution from your products (among others). That’s a problem, because I’m the main source of water for hundreds of millions of people – not to mention all the other species that depend on me, too. What do you plan to do about it? Sincerely, Gangotri Glacier, Uttarkhand, India.”
Today, April 22, we celebrate Earth Day, the day of action that started in 1970 and helped launch the environmental movement.