Nov 17, 2017
BNN's Daily Chase: Keystone spill comes ahead of key Nebraska vote on KXL
By Noah Zivitz
The timing couldn’t be any worse for TransCanada: approximately 5,000 barrels of oil leaked from its Keystone pipeline yesterday in South Dakota — just a couple of days before Nebraska’s Public Service Commission votes on whether to give Keystone XL the go-ahead. Jameson Berkow will have the latest details on the spill, how it could factor into the PSC decision, and remind us all that even if that regulatory body gives KXL the green-light, it’s by no means the final hurdle. As some extra colour on the debate surrounding transporting crude oil, we’ve got a CTV report on the Lac-Megantic trial underway in Sherbrooke, Que.
DON’T MISS THIS INTERVIEW
We’re rolling out Paige Ellis's interview with WestJet CEO Gregg Saretsky today. You won’t want to miss it. He addresses Bay Street’s concerns about execution risk at WestJet, shares new details on what passengers can expect on Swoop flights, and he doesn’t mince words about Air Canada’s pending split from Aimia.
PROVINCIAL CANNABIS PLANS
Rachel Notley’s NDP government’s plan for recreational cannabis includes a minimum age of 18; a ban on co-location with alcohol, tobacco and pharmaceuticals; and privately-owned storefront retailers. The Alberta legislation came just a few hours after what, for all intents and purposes, was Quebec’s reluctant plan for cannabis sales. “I never thought that in my job description at one point there would be Chief Pot Officer,” Quebec Finance Minister Carlos Leitao told BNN. “And I won’t be putting that on my CV.” You can see that full interview here. And we’ll delve into Alberta’s plan with Justice Minister Kathleen Ganley at 12:40 p.m. ET today.
BOMBARDIER GLOBAL 7000 UPDATE
Nevermind the CSeries; today, at least, the spotlight will shine on Bombardier’s Global 7000. CEO Alain Bellemare is holding a news conference this morning to provide an update on the next-generation business jet program. Reuters was reporting yesterday that Bombardier intends to hire approximately 1,000 employees in the next year and a half to contribute to the program.
U.S. TAX REFORM
After the House of Representatives voted 227-205 in favour of the Republicans’ tax reform plan, the ball is now in the Senate’s court – where a vote on the upper chamber’s version of the overhaul is expected after the U.S. Thanksgiving holiday. The most pressing question is whether Senate Republican leaders can avoid having the bill scuppered by opposition from within the party. And even it clears the Senate, there’s still the matter of reconciling with the House version.
OTHER NOTABLE STORIES:
-Elon Musk took the wraps off Tesla’s semi truck late last night. Amid all the hype, arguably the most important question is this: can Musk steer the truck through the “production hell” that beset Model 3?
-The Ontario Securities Commission holds a hearing this morning on possibly suspending, restricting or terminating Omega Securities’ registration amid allegations Omega’s alternative trading systems “disseminated and continue to disseminate false and misleading information about trading activity on its marketplaces.” Omega said earlier this week it will “vigorously oppose” the OSC staff’s application.
-Fairfax’s Prem Watsa could be coming to the rescue in Churchill. The federal government said late yesterday Fairfax Financial “has expressed interest” in a JV to buy the Hudson Bay Rail Line and the Port of Churchill.
NOTABLE RELEASES/EVENTS
-Notable data: Canadian CPI, U.S. industrial production
-10:00 a.m. ET: OSC hearing on Omega Securities
-10:00 a.m. ET: Bombardier CEO Alain Bellemare and Quebec’s Economy Minister hold news conference in Montreal
-12:00 p.m. ET: Economic Advisory Council Chair Dominic Barton delivers speech in Toronto
-12:00 p.m. ET: NHL Commissioner Gary Bettman delivers remarks at NHL centennial panel in Montreal
-NAFTA talks continue in Mexico City
Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.
