VANCOUVER - Canadian taxpayers will be on the hook for billions of dollars of Kinder Morgan’s losses if the B.C. government succeeds in its reference case to ban the company’s transport of diluted bitumen through its expanded pipeline.

 

This morning Finance Minister Bill Morneau announced his government is prepared to shoulder the risk created by B.C.’s opposition.

 

“Canadians are being asked to take on billions of dollars worth of risk in a desperate attempt to soothe the nerves of a foreign oil corporation,” said Wilderness Committee Climate Campaigner Peter McCartney. “The fact that we as taxpayers have to bail out Kinder Morgan with a mammoth cheque if B.C. succeeds in protecting itself from an oil spill is completely unacceptable.”

 

Morneau also outlined this promise would transfer to any other company who took over the proposal, raising questions about Kinder Morgan’s commitment.

 

“I think the B.C. government’s court reference is a convenient excuse for a company that knows its goose is cooked,” said McCartney. “Kinder Morgan appears ready to abandon its pipeline in the face of resolute opposition and I don’t know who in their right mind would take it over.”

 

The finance minister also did not rule out the possibility of a direct government investment in the pipeline, instead suggesting, “any support Canada provides must be sound, fair and beneficial to Canadians.”

 

“I sure hope the government isn’t also planning to prop up this pipeline with taxpayer money if the company decides to walk away,” said McCartney. “Canadians expect our taxes to pay for schools and hospitals, not to bail out Big Oil when it doesn’t get its way.” 

 

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For more information, please contact:

 

Peter McCartney | Climate Campaigner, Wilderness Committee

778-239-1935, peter@wildernesscommittee.org