The Federal Government, Tuesday, May 29, moved to buy the Trans Mountain Pipeline from Kinder Morgan for $4.5 Billion.

Alberta Premier Rachel Notley applauds the move.

"The deal announced today puts people to work building this pipeline right away, and creates good jobs. This deal and this pipeline will unlock investment in our oil sands because we're now on the path to getting full value for our energy resources."

The Alberta Government could invest up to to $2 Billion in Provincial money into the project, for an equity stake, which she says will see a return once it's complete.

The deal must be ratified by Kinder Morgan share holders, but if it is, would start by this August.

Federal opposition leader Andrew Scheer isn't a fan of the idea, saying he believes it'll cost more than the $4.5 Billion the Liberals say it will.

B.C. Premier John Horgan says his Province won't be dropping legal challenges to the pipeline, despite the fact Ottawa is taking over the project.

 

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