The Globe and Mail reports in its Wednesday edition that Brian Porter, the chief executive officer of Bank of Nova Scotia, is warning that cancelling the Trans Mountain pipeline would be damaging to the country's economy and competitiveness. The Globe's James Bradshaw writes that Mr. Porter called the planned $7.4-billion pipeline expansion "very important" to Canada and he urged the parties steering the project to surmount the current roadblocks and move forward. Project proponent Kinder Morgan has issued a tough set of demands to be met by May 31 as conditions to proceed, leaving the federal and Alberta governments scrambling to find a solution. Scotiabank is helping to finance the project. Speaking to reporters after the bank's annual meeting Tuesday, Mr. Porter reiterated Scotiabank's support for "thoughtful energy development," stressing, "I think that it's important to look at the cost of not doing these things for the Canadian economy in terms of GDP and what it means for per-capita income of people in Canada. And we're going to lose our competitive advantage on a number of things. Canada has a productivity issue; it has a competitiveness issue. ... I'm concerned about the resource-based economy."