We think we’ve discovered a loophole that could bring Kinder Morgan’s Trans Mountain Expansion pipeline to a grinding halt.
The oil companies committed to shipping bitumen from the pipeline’s terminus in Burnaby are looking at the low price of oil, the expanding cost of the project and the growing uncertainty of whether or not it will ever get finished—and getting scared. And we just discovered that they will have 30 days to decide whether or not to bolt.
Norwegian Statoil has already promised to get out of the Tar Sands because of concerns over climate change. It signed on to the project in 2012 when oil was $110 a barrel and only going up. Now, with oil at 60$, it could be on the hook for billions. When Kinder Morgan releases its final cost estimate in the next few weeks, which is going to be over budget, Statoil will have to decide if the Trans Mountain pipeline makes any sense.
If we can convince Statoil it doesn’t, the whole carbon-busting project could come tumbling down like a house of cards.
Tell Statoil to listen to its business instincts and climate science. The Kinder Morgan Trans Mountain pipeline just doesn’t add up.
This could be how we stop Kinder Morgan. Over 250,000 of us convinced Norway’s largest bank to pull its investment in the Dakota Access Pipeline because of the way the project was treating the Standing Rock Sioux Nation. Norwegian-owned Statoil’s decision to pull out of the Tar Sands is almost certainly attributed to pressure from the climate change movement back home. Not only do we know that people power can work, we can help Statoil fulfill its commitment to getting out of the Tar Sands.
We’re going to keep battling Kinder Morgan on every front possible—in the courts, on the ground and by supporting the First Nations leading the fight. Kinder Morgan is at exactly the same point Enbridge’s Northern Gateway was in the approval process two years ago before it stalled. If we can convince just one shipper that Kinder Morgan is just not a safe bet, it could cause the rest of the shippers to get cold feet too. And then: Trans Mountain will be dead.
Almost 25,000 SumOfUs members signed a pledge with the Union of B.C. Indian Chiefs to do whatever it takes to stop this project. We’ve been handed a huge opportunity here, and we don’t have much time. Let’s seize it.
Kinder Morgan is expensive, uncertain, unprofitable and will devastate our pristine coast. Will you ask Statoil to do the right thing and back out of Trans Mountain?
More information
Vancouver Sun. 20 January 2017.
Financial Post. 15 December 2016.