Canada PM Trudeau says Trans Mountain investment remains solid

📆 2023-08-23 2:56 PM
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Canadian Prime Minister Justin Trudeau said on Wednesday he was confident the Trans Mountain pipeline expansion was a solid investment and that interest is high among Indigenous groups who want to buy a share of the pipeline. The Trans Mountain Expansion (TMX) is expected to nearly triple the flow of crude from Alberta's oil sands to Burnaby, British Columbia, and is intended to unlock Asian markets for Canadian oil, which is now mostly exported to the United States. The Canadian government bought the pipeline for C$4.5 billion ($3.3 billion) in 2018 to make sure the project was completed after it ran into challenges, including opposition from Indigenous peoples and environmentalists.

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NEW YORK — Wall Street is rising Wednesday as the pressure that's built on stocks recently from the bond market relaxed a bit. The S&P 500 was 0.9% higher in midday trading, trimming its loss for what's so far been a dismal August. The Dow Jones Industrial Average was up 134 points, or 0.4%, at 34,423, as of 11:15 a.m. Eastern time, and the Nasdaq composite rallied 1.4%. Big Tech stocks and others that benefit from easier interest rates led the way.

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Canada PM Trudeau says Trans Mountain investment remains solidOTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau said on Wednesday he was confident the Trans Mountain pipeline expansion was a solid ...
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