So, I've looked into this Kinder Morgan company

[HEyHEY]

That purchase Terasen.. bad news. They've got tons of bad press down south for environmental infractions and have been hit with fines by the EPA too. They've had a few oil spills and exploding pipelines.

Terasen is BC's natural gas distribution company. ANd it appears as though they've been sold to environmental sociopaths.

Just thought I'd let you know.

[Spazito]

1. Oh crap, just what we need!

Watch the prices skyrocket while they pollute away.

[V. Kid]

2. From what I understand...

....the goverment can actually stop the sale. Will they though...hmm I won't hold my breath.

Also, when BC Gas was originally privatized foreigners wern't allowed to own more than 20% of the company. Hmm geuss that's not true anymore...

[CHIMO]

3. How We Got Screwed on Terasen Deal

How We Got Screwed on Terasen Deal

Richard Kinder, former Enron president Thanks to BC Libs, Texans control our gas profits, and supply.

TheTyee.ca
I am just a poor one time lawyer, one time politician and part time environmentalist who does a bit of broadcasting and writing. I know nothing about oil and natural gas except what it costs me. But I do know bullshit when it wafts my way, especially if the source is anywhere near where politicians ply their trade, PR people hang out (usually the same place) or when CEOs of large companies tell us about the huge social benefits they are about to confer on our province by reason of their utterly unselfish corporate policy.

So, when the government and a CEO tell me that the sale of what was once BC Gas to Kinder Morgan, a Texas company in the pipeline business, is a great deal for me, knowing the sources, I ask: How?

First a bit of the history. During the Vander Zalm years the Gas division of BC Hydro was hived off and privatized making a hell of a pile of money for many investors. Nothing wrong with that, I suppose, except I didn’t get in on it. At that time foreign ownership was limited to 20 percent, meaning that at least BC Gas would be under local control and management and, one assumes, attuned to what their shareholders wanted.

This 20 percent rule wasn’t popular for the big kids in the game because it made it difficult to raise money on share sales and unpalatable for corporate takeover – which, of course, was the whole point of the restriction. Always on the lookout for campaign donations, the Campbell Liberals eliminated the 20 percent rule and BC Gas, now called Terasen Energy, was ripe for the plucking.

http://www.thetyee.ca/Views/2005/08/15/TerasenDeal/


Richard Kinder, former Enron president


So how long before they own all the lumber lock, stock and barrel.

[CHIMO]

4. Kinder takes pipeline empire private

Richard Kinder has pulled off the biggest management buyout in the history of the United States and is now ready to run his seven-year-old pipeline and energy giant Kinder Morgan Inc. as a private concern.

Private is the key word. While he is a multibillionaire and one of the United States' leading financier-entrepreneurs, Mr. Kinder doesn't even have an entry on the sprawling on-line encyclopedia Wikipedia.

“Who the hell knows who Rich Kinder is? And who cares?” he told The Wall Street Journal in 2004 in a rare interview.

Mr. Kinder, who a decade ago was president of Enron Corp. before quitting after a power struggle, is backed by company co-founder Bill Morgan, Houston money manager Fayez Sarofim and four equity firms including Goldman Sachs.

http://www.theglobeandmail.com/servlet/story/RTGAM.20060828.wkinderr0828/BNStory/Business/home

[IntravenousDemilo]

5. Not exactly the Kinder Gentler Morgan company, is it? n/m