The Globe and Mail reports in its Thursday, Jan. 12, edition that B.C. Premier Christy Clark's government has reached a
financial deal with Kinder Morgan
worth as much as $1-billion
over the next two decades. The Globe's Justine Hunter writes that the deal satisfies
Ms. Clark's demands that British
Columbia get a fair share of the
economic benefits from the
expansion of the
pipeline.
It has been almost five years
since Ms. Clark announced that
any heavy oil project in B.C. would have to meet
five conditions to win her approval.
With what she described as
an "unprecedented" revenue-sharing
agreement, B.C.
on Wednesday formally gave its
blessing to the $6.8-billion project
that will triple the capacity
of Kinder Morgan's existing pipeline.
"The project has met the five
conditions," the Premier said after releasing details
of the deal with Kinder Morgan. She noted the deal took more than
four years to negotiate.
The federal Liberal government
gave its nod to the pipeline
expansion in November,
with 157 conditions to be met by
Kinder Morgan. At that time,
B.C. had not completed
its environmental assessment
review, which was forced
by the courts but could not have
derailed the project.
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