On Tuesday, the federal government announced that they have decided to buy the Trans Mountain expansion pipeline project for $4.5 billion dollars. This was to ensure the pipeline would proceed.
This announcement was celebrated by Albertans across the province.
For months politicians, workers and activists across the country have been expressing their opinions about the project and now Trudeau has put a final word on the debate.
“Today, we’ve taken action to create & protect jobs in Alberta and BC, and restart construction on the TMX pipeline expansion, a vital project in the national interest,” he said in a tweet regarding the announcement.
Premier Rachel Notley celebrated the announcement with an event at the International Brotherhood of Boilermakers Training Centre in Calgary. Teamsters Local 362 was honoured to attend the event with Teamsters Canada President François Laporte.
“We are pleased to have worked with the federal government to ensure construction resumes, certainty is increased and Albertans and all Canadians enjoy the many benefits of having this project go forward. There is more work to do, but we will not stop until the job is done,” she said in a statement.
According to CBC news, Kinder Morgan and the federal government will spend the next couple of months looking for a buyer for the pipeline, as the government is not looking for long-term ownership.
Here are a few fast facts about the project:
- In 2016 the Federal government approved the project, and in early 2017 then B.C. Premier Christy Clark announced her support. Once NDP leader John Horgan became premier in 2017, he stated he would not support the project.
- According to Kinder Morgan Canada, the Project would create approximately 15,000 construction jobs and the equivalent of 37,000 direct, indirect and induced jobs per year of operations. They state that producers will see $73.5 billion in increased revenues over 20 years.
- Scotiabank estimates the discount on Canadian oil caused by pipeline bottlenecks costs producers and the Canadian economy as much as $40 million per day.