The Canadian government announced earlier that it will purchase the pipeline and all of Kinder Morgan's core Canadian assets for $4.5 billion. In 2016, the Federal Court of Appeal overturned approval of the Northern Gateway pipeline project, but it was Ottawa that ultimately rejected the project.
I hope @JustinTrudeau knows that this decision is going to haunt him everywhere he travels in the world.
"The federal government has reached an agreement with Kinder Morgan to purchase the existing Trans Mountain pipeline, and infrastructure related to the Trans Mountain expansion project", Bill Morneau, the finance minister, told reporters. But he said Ottawa's decision to step in doesn't change the Tsleil-Waututh's opposition to the project.
The deal needs to be approved by Kinder Morgan shareholders. The project has always been in the national interest.
But even if the Keystone XL pipeline is built, Canada is still selling 99% of its oil to refineries in the US and that narrow market means they now get far less per barrel than they would if they had access to an alternative market. Pipeline opponents are also calling out Trudeau for abandoning federal commitments to take action on climate change and respect the rights of indigenous nations.
Amid the feud, the pipeline has become a barometer for foreign investments in Canada, with some warning of a spillover into other sectors of the economy.
But Morneau said the Alberta-British Columbia feud, which led Alberta to boycott British Columbia wines and threaten to cut the neighbouring provinces fuel supplies, "cannot be allowed to fester". The case was heard by the Federal Court of Appeal, which is expected to render a decision in June.
Conservative Leader Andrew Scheer said Prime Minister Justin Trudeau failed to get the job done and had to resort to spending taxpayers' money.
The pipeline's expansion faced a tenuous future as lawsuits mounted from British Columbia and indigenous people.
There is a sense that this is serious business and that the passion and exasperation in Parliament will be nothing compared to the rage on the ground in British Columbia, in what promises to be a long, hot summer.
Soon after, Kinder Morgan Inc sold the Trans Mountain pipeline to Kinder Morgan Energy Partners (which it partially owned at the time and later fully acquired) for about US$550 million, according to a document filed with the U.S. Securities and Exchange Commission under the company's former name, Knight Inc.
The plan - similar to how Canada financed and managed shares in General Motors and Chrysler in 2009 during the financial crisis - will include a new Crown corporation to manage the project. At present, the oil sands fields in Alberta have only limited connections to the sea, leaving the United States market as only available option for large-scale exports.
She also accused Trudeau's government of writing a "blank cheque" for the pipeline's construction costs, which Kinder Morgan has previously pegged at $7.4 billion.
In recent months, thousands have protested against the project across Canada.
Meanwhile, Green Party leader Andrew Weaver was much more critical of the federal government with his comments today. "There's still 10,000 people who will get arrested if need be". "I'm concerned there could be catastrophic consequences from a diluted bitumen spill, regardless of the owner of the pipeline", Horgan said.
Horgan was adamant that his government should not shoulder any blame for the cost taxpayers may or may not incur.
Morneau said Indigenous groups, pension funds, and others have expressed interest in the project.