Ongoing protests have forced energy giant Kinder Morgan to suspend all of its non-essential spending on the Trans Mountain pipeline expansion project, the company announced on Sunday.
One day after a protest led by Indigenous leaders drove the company to suspend activities for the day, Kinder Morgan said it no longer wanted to put its shareholders’ investments at risk by pursuing investments on the proposed west coast pipeline that would link Alberta oil producers to a terminal in metro Vancouver.
“As KML has repeatedly stated, we will be judicious in our use of shareholder funds. In keeping with that commitment, we have determined that in the current environment, we will not put KML shareholders at risk on the remaining project spend,” said the Texas-based company’s chairman and chief executive officer Steve Kean in a statement.
National Observer – April 8, 2018.
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