Canadian Indigenous Groups Weigh Pipeline Deal to Ease Oil Glut
- Six First Nations approached government on buying line
- Financing may come from bond market: Indian Resource Council
Oil storage tanks sit at the end of the Trans Mountain pipeline in Burnaby, British Columbia,.
Photographer: Darryl Dyck/BloombergThis article is for subscribers only.
The Trans Mountain crude pipeline that Prime Minister Justin Trudeau’s government bought from Kinder Morgan Inc. last year is getting interest from some indigenous groups hurt by Canada’s oil price crunch.
Five or six First Nation communities have approached the federal government with a view to potentially acquiring the line, Stephen Buffalo, chief executive officer of Canada’s Indian Resource Council, said in an interview at the Indigenous Energy Summit in Calgary.