Canadian government to buy pipeline project from Kinder Morgan for $4.5bn

Finance minister says 'when faced with an exceptional situation that puts jobs at risk ... the government is prepared to take action'The Canadian government has announced it will buy Kinder Morgan's Trans Mountain pipeline project for C$4.5bn ($3.5bn US) - but does not intend to be the long-term owner of the project, which has faced fierce environmental opposition. Canada will also offer federal loan guarantees to ensure construction continues through the 2018 season as part of the deal with the company. Continue reading...