CALGARY — While the British Columbia government wages war against the Trans Mountain pipeline expansion, its own employees are invested in the U.S. company behind the $7.4-billion project.
The British Columbia Investment Management Corp. (BCI), which manages the pension funds for B.C.’s public sector workers, owns stakes in the Canadian oil and gas industry as well as pipeline companies Kinder Morgan Inc., Enbridge Inc. and Pembina Pipeline Corp. Houston-based Kinder Morgan’s Canadian subsidiary, Kinder Morgan Canada Ltd., is developing the Trans Mountain Expansion. Kinder Morgan owns about 70 per cent of the voting interests of the Canadian unit. BCI does not hold shares in Kinder Morgan Canada.
Full story here: http://business.financialpost.com/investing/cries-of-rank-hypocrisy-as-disclosures-reveal-b-c-government-pension-fund-invests-in-kinder-morgan