SURREY BOARD OF TRADE DOES NOT SUPPORT USING TAXPAYER DOLLARS TO INDEMNIFY KINDER MORGAN PIPELINE –  Surrey business organization still maintains support for Kinder Morgan Pipeline

SURREY, B.C. – Today’s announcement by the Federal Government to indemnify financial losses for the Trans Mountain Pipeline Expansion Project was met with concern by the Surrey Board of Trade.

“Despite the BC Government’s decision to further review and consult on the pipeline expansion, the Surrey Board of Trade continues their support of the Kinder Morgan Expansion Project with the development of 15,000 jobs, mostly in the trades,” said Anita Huberman, CEO, Surrey Board of Trade.

“However, the Canadian government should not be using tax payer money to compensate for project delays and to indemnify financial losses,” continued Huberman.

This is a non-partisan issue. The twinning of the Kinder Morgan Pipeline (a pipeline that already exists) will come through Surrey.

In the Surrey Board of Trade’s view, there is currently nothing to stop Kinder Morgan from expanding the Trans Mountain pipeline. Approvals have already been given. The Surrey Board of Trade encourages Kinder Morgan to continue working on the federal permissions and guidelines to accomplish this needed infrastructure program rather than seek taxpayer support.

‘The Surrey Board of Trade applauds the Federal Government for trying to come up with a solution to assist a significant infrastructure project in Canada but using taxpayer dollars for this purpose sets the wrong precedent for local and international investors. There is a risk to Canada’s reputation as a place to do business when projects are approved and still don’t happen.”

The Surrey Board of Trade reiterates their position in support of the Kinder Morgan Pipeline Twinning project. “Let’s get on with creating jobs and needed infrastructure.”

Pipelines play a crucial role in today’s economy. They foster international trade, generate investment in research and development and create jobs, a fact that is not to be taken lightly in the current economic landscape.

“Access to markets, including building trade infrastructure, is what we want to see government deliver. These infrastructure projects are trade enabling, and they will drive economic growth for decades to come. They will create jobs for Canadian families and generate tax revenues for governments confronting massive deficits.

Pipelines matter because they are crucial to the competitiveness of the energy industry, a sector that supports the livelihood of so many Canadians.

“Further, the Surrey Board of Trade believes the reviews that have already taken place which include a focus on environmental protections such as the 157 binding conditions by the National Energy Board as well as the investments in the Ocean Protection Plan, serve to address environmental and other concerns related to the project. Moving crude oil by rail through suburbs has proved to be far more hazardous than using state-of-the art technology in pipelines.”

“The Kinder Morgan Project has a key role to the Canadian economy. They have shown progressive and innovative efforts to ensure world class environmental protection.”

The Surrey Board of Trade has extensively reviewed Kinder Morgan’s commitment to ensure that the proposed twinned pipeline will meet and exceed the most stringent conditions to get product to market in the safest possible way.

Since 1918, the Surrey Board of Trade is a not for profit organization, supporting and attracting business to Surrey through a business and international programs and services. The Surrey Board of Trade has 6,000 business contacts, representing 2,500 businesses and 60,000 employees.