Indigenous non-profit looks to acquire ownership of Trans Mountain Pipeline

A new Indigenous non-profit organization is seeking an ownership stake in the Trans Mountain Pipeline, saying its aim is to make sure communities along the pipeline’s route receive its benefits directly.Chief Tony Alexis of the Alexis Nakota Sioux Nation in Alberta said 14 Indigenous communities along the pipeline’s route in Alberta and B.C. have already signed on.

The Trans Mountain pipeline carries 300,000 barrels of oil per day, and is Canada’s only pipeline system transporting oil from Alberta to the West Coast. Several Indigenous-led initiatives have already come forward. Project Reconciliation is seeking a 100 per cent ownership stake in the pipeline with no equity requirement or liability risk to Indigenous partners. Its goal is to distribute cash flow from the pipeline between the participating Indigenous community owners, and an Indigenous Sovereign Wealth Fund that will invest in energy transition projects.

“These groups, these other groups, they are profit-oriented, which is a major conflict for Indigenous communities,” Alexis said. He declined to see how a potential purchase would be financed, saying that will be determined once the government of Canada makes the potential terms of a sale clear.

GlobeBC Think we are going change our minds cause it's indigenous owned you can't even respect ur own people saying no why elected chiefs are less respected now then ever respect that Indigenous Resistance IR aho 🔥 🙏 🙌

Haven't they suffered enough. TMX will never make money.

GlobeBC Why indigenous people are opposed to it buy what u got a army to try get it through or u going ask these racist politicians uniforms to enforce Canada's racist laws on indigenous people on unceded territories seriously no respect need consent u don't have Indigenous ResistanceIR

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