Stifel Nicolaus Cuts Kinder Morgan (NYSE:KMI) Price Target to $21.00

Taxpayers shouldn't have to pay for Prime Minister Trudeau's failure, say Conservatives

Federal gov't pushes Trans Mountain

British Columbia's new government has launched legal challenges.

"We are willing to indemnify the Trans Mountain expansion against unnecessary delays that are politically motivated", Morneau said.

A Canadian energy industry source who was not authorized to speak publicly about the matter said Morneau's comments about potential new investors were puzzling.

This week in a Calgary newspaper column by Rick Bell, the UCP leader, obviously frustrated by the Trudeau government's slow pace on the pipeline issue, ripped into the Prime Minister for continuing to allow B.C to block the project.

"If the federal and provincial governments have to backstop that in order to not scare away the investors, then that has to happen".

In response, Kinder Morgan has indicated that the May 31 deadline for "clarity on a path forward" remains a priority as a result of the required construction window.

Ottawa's pledge to commit money to the controversial $7.4 billion pipeline project came a month after the proponent, Texas-based Kinder Morgan, announced it would halt all non-essential spending on the project in light of the uncertainty caused by British Columbia's opposition to the project.

"Anyone who is presenting themselves as being equipped to lead the province needs to learn very quickly to rise above his own personal hostilities, and that is not what we see demonstrated in the quotes that were reported today", said Notley.

Meanwhile, Alberta has threatened to reduce oil and gas shipments to B.C. if the project is stopped.

"If they think this work is going to go ahead, we are going to have to start that up again", said Mivasair.

Separately, the fight between the Alberta and B.C. governments over the Trans Mountain expansion is expected to end up in Alberta's courts.

Eby said he also wanted to make it clear that B.C. will pursue damages if Alberta uses its bill to punish British Columbians.

Earlier this week, B.C. proposed that Alberta refer Bill 12, Preserving Canada's Economic Prosperity Act, to the courts to determine if it respects jurisdictional powers under the Canadian Constitution.

"If they refuse to do that we'll take them to court and we'll challenge the constitutionality of their bill", Eby told reporters. Trudeau said only there'd be "alternatives", while Morneau didn't specially respond when asked if he's had talks with rival pipeline companies. "From day one, Horgan has known that he can not block this project and chose to play politics instead of working for the best interests of British Columbians".

On Wednesday he said that while costs to taxpayers was an issue, the federal government's announcement showed how seriously Ottawa is taking the pipeline.

Horgan and Wilkinson were together in Chilliwack Wednesday visiting flooded communities.

"The United Nations Declaration on the Rights of Indigenous Peoples clearly articulates the need to secure the free, prior and informed consent of Indigenous Peoples on any project that directly impacts them", it quoted vice-president Bob Chamberlin saying. Stifel Nicolaus dropped their price target on Kinder Morgan from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Monday, April 30th. "We're waiting for Canada to follow suit".

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