Experts say feds overpaid by $1.2 billion for Trans Mountain pipeline
The federal government may have paid too much for Kinder Morgan’s Trans Mountain pipeline, but a petroleum marketing expert says taxpayers will be able to recoup the forecasted $…
Experts say feds overpaid by $1.2 billion for Trans Mountain pipeline
The federal government may have paid too much for Kinder Morgan’s Trans Mountain pipeline, but a petroleum marketing expert says taxpayers will be able to recoup the forecasted $11-billion investment if the project can be completed on schedule and under budget.
Analysts with Royal Bank say Justin Trudeau’s Liberals are paying a premium of approximately $1.2 billion for the existing link from Alberta to the B.C. coast and the engineering plans for an expansion that will nearly triple the pipeline’s capacity.
https://www.thestar.com/calgary/2018/05/30/experts-say-feds-overpaid-by-12-billion-for-trans-mountain-pipeline.html
Canada’s Dirty $20-Billion Pipeline Bailout
Trans Mountain existing assets valued at $550 million in 2007.
Finance Minister Bill Morneau has proposed sacrificing Canadian taxpayers to bail out an uneconomic U.S. pipeline owned by former Enron executives.
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And the bill for taxpayers won’t be $4.5 billion as Morneau claims, but much closer to $20 billion, says economist Robyn Allan.
Let’s parse the fantastic numbers, because they will affect all of us.
The $4.5-billion purchase price only buys a leaking 65-year-old pipeline, an aging tanker farm not built to withstand earthquakes, and a port facility as well as engineering plans and permits for the twinning of a high-risk expansion project.
https://thetyee.ca/Opinion/2018/05/29/Canada-Dirty-P..
