Liberal government to buy Trans Mountain pipeline for $4.5B

Mowich

Hall of Fame Member
Dec 25, 2005
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Eagle Creek
PBO warns of billion-dollar losses if Trans Mountain expansion doesn't go ahead

OTTAWA -- Canada's parliamentary budget watchdog says the Liberal government paid one of the highest possible price tags for the Trans Mountain pipeline – and that value decreases with every delay, bump to construction cost and change in risk profile.

That means the government could lose billions of dollars if construction doesn’t go ahead.

“It’s very likely that construction will be delayed and construction costs will increase and that these two factors will probably decrease the value of the pipeline and its expansion by a billion dollars,” Parliamentary Budget Officer Yves Giroux said in a new report out Thursday.


Read all about it: www.ctvnews.ca/politics/pbo-warns-of-billion-dollar-losses-if-trans-mountain-expansion-doesn-t-go-ahead-1.4276842
 

spilledthebeer

Executive Branch Member
Jan 26, 2017
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Nothing has changed.

The project must be reviewed by "independent" scientists - not those who remain after a years long purge by Harper.

That review is passed onto to cabinet in order to base their decisions on.

that is the process




Oh THAT IS RICH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


HOID BULLSH+TTING US ABOUT A HARPER PURGE OF SCIENTISTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


All Harper did was FREEZE HOG WAGES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


It was Our idiot Boy Justin and his loser LIE-berals who FIRED the scientists since LIE-berals already believe in global warming and DO NOT WANT any scientists pointing out the FLAWS in the LIE-beral carbon crap and trade tax SCAM!!!!!!!!!!!!!!!!!!!!!!!!!!






How sad-the `sunny ways` of Our brainless Boy-prime minister Justin Trudope are getting more cloudy by the day! Here is a description of the latest LIE-beral hypocrisy-along with some comments of my own in brackets):

The so-called 'war on science'. First posted: Tuesday, August 09, 2016 07:21 AM EDT. Updated: Tuesday, August 09, 2016 07:34 AM EDT. (THE CANADIAN PRESS/Jeff McIntosh)

Climate scientists evaporating under Trudeau, not Harper
Where’s the bark from Canada’s unmuzzled scientists?

It’s become increasingly clear that former prime minister Stephen Harper’s supposed “war on science” was little more than a myth concocted by special interests and furthered by the media.

In a memo obtained by Postmedia, the Professional Institute of the Public Service of Canada – the union for scientists -- complains the Trudeau government is continuing the communications policy started by the Harper government.

Although it doesn’t seem like Trudeau’s continuing Harper’s war, because other evidence suggests there wasn’t much of one to begin with.

(The Harper govt did not fight science-they merely fought the civil service Working Family Hogs who sought endless new entitlements and huge new wage increases and golden pensions that we cannot afford. But it suited the Hogs to suggest that Conservatives were red-necks. But the hypocrisy of LIE-beral loving news in spreading this propaganda is an ominous threat to our democracy. When the `truth` is `managed` and `selected` by special interest groups-we ALL lose!)

As Postmedia's David Akin writes: “Data quietly tabled in the House of Commons earlier this summer suggests that Harper's ‘muzzle’ appeared to be ineffective. That data shows that federal government scientists gave nearly 1,500 media interviews in the 12 months prior to last October’s election.”

But not only has the Trudeau government not significantly changed its communications policies for scientists, it does not appear to have found any need to go out and hire many of them.

A pre-budget forecast published by Statistics Canada earlier this year had one department -- Environment and Climate Change Canada — losing 11% of its scientists. That would have been the biggest, year-over-year cut in science jobs at that department ever. Officials say that, with the budget boost the department got, those numbers won’t be so bad but they still won’t say what the numbers are.

(It should be clear by now that LIE-berals and Hogs DO NOT CARE ABOUT FACTS- what they want is ENTITLEMENTS! Their foolish carbon crap and trade program will not clear the air-it will ONLY empty our wallets! Hog scientists slammed the Harper govt for ignoring the wretched Kyoto Accord with its economy crippling demands on Canada. And now that LIE-berals are in charge, the Hogs have NOTHING to say about the Paris Accord that places NO demands on anybody and simply suggests we should reduce green house gas emissions!

(Greedy Hogs are the principle supporters of LIE-berals-one employed Cdn in three works for govt and it is Hogs that put LIE-berals in power in exchange for a promise-now shown to be worthless-of MORE GRAVY! So LIE-berals are now manipulating Hogs numbers and dangling future hiring/new job carrots before them.)

(The overall environmental picture is this: As the civil service expands under LIE-berals, the greater are the number of Hogs that LIE-berals can count on for votes so LIE-berals can cling to power. And as the number of people on the govt Sunshine List hgrows- so to does the number of people with the wealth to have a HUGE carbon footprint! None of this LIE-beral policy is about science- its ALL ABOUT VOTE BUYING!)

We’re not necessarily against any cuts. If positions aren’t needed, reduce the payroll.

What we are against is the theatrical language, disconnected from reality, that was used to smear the Harper government in recent years.

Communications in government, for better or worse, are more controlled than ever.

(IN the last year- LIE-berals have behaved in a fashion that makes the Harper govt look warm and friendly by comparison to suddenly tight mouthed LIE-beral who do NOT like it when the public talks back and shoots down their biased, self serving Fake News!)

This happens at all levels of government, regardless of who’s in power. There was never an orchestrated conspiracy against federal scientists.

The media and opposition during the Harper years were reckless in taking a handful of stories about disgruntled former federal scientists and turning them into a grand narrative that wasn't backed up by facts.

(There is a fine reason that Harper socrned Cdn media- for its LIE-beral bias!)

The so-called war on science could have done with its own dose of scientific research.

(LIE-berals are playing a dangerous game here. They KNOW they cannot get elected without Hog support. They know they cannot supply Hogs with the gravy they demand. So now they double down and freeze wages and add new taxes and distract Hogs with threats of layoffs-that MAY be permanent-IF LIE-berals do not get enough Hog support. This is financial bullying on a HUGE scale and its ALL about power with NO scientific connection!)

(David Suzuki was right when he stated that Our brainless Boy has been in power for a year and has done NOTHING for the environment-except add his own hot air to it! What Suzuki wont admit is that he has been fooled by Our idiot Boy- there NEVER WAS any LIE-beral plan to `save` the environment! Any REAL effort to save the environment by LIE-beral methods would result on voters- turning on LIE-berals and MAULING them! The LIE-beral idea of starving the general public while Hogs fly high wide and often- spewing carbon across the planet- is NOT a way to get re-elected and Our idiot Boy Justin has just awakened to the fact that Cdns are not buying his Carbon crap!)
 

Curious Cdn

Hall of Fame Member
Feb 22, 2015
37,070
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Morneas sez we get 10% of the purchase price of the pipeline back in taxes.

Voodoo accountancy worthy of Edgar Bensin.
 

spilledthebeer

Executive Branch Member
Jan 26, 2017
9,296
4
36
Morneas sez we get 10% of the purchase price of the pipeline back in taxes.

Voodoo accountancy worthy of Edgar Bensin.


Sure enough!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!



If Our idiot Boy Justin gets his way the only money he spends on the pipeline will be the BILL FOR TEARING IT UP!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Our idiot Boy has told us he wants to make Canada FOSSIL FUEL FREE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


And that is the ONLY THING the idiot Boy has said that I believe!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,486
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Regina, Saskatchewan
Gubmint taking over a business, what could possibly go wrong.
Cost to twin Trans Mountain pipeline could be $1.9B higher, Kinder Morgan says

The $7.4 billion construction cost Kinder Morgan reported in February 2017 hasn't been updated since the project hit political snags, construction delays and opposition in B.C.

The first update of any kind came Tuesday when Kinder Morgan filed required documents as the company gears up for a shareholder vote on the sale in Calgary on August 30.

In those pages, the company looks at a few different construction cost scenarios as part of a fairness evaluation of the sale offer to the Canadian government. The most expensive scenario pegs construction costs at $9.3 billion, taking until December 2021 to complete -- a full year after the current timetable of December 2020.

Allan, who said she has expertise on a number of multibillion infrastructure projects, believes in the end $9.3 billion will seem like a steal compared to the final price tag.

"This is the least it's going to cost," said Allan.


She said the biggest frustration is the lack of information coming from the federal government about the planned sale.

---

I'm sure pretty much anyone with half a brain (which would exclude Trudeau) saw this coming from a mile away. It is not possible to turn over a private venture to government and not result in a huge inflation of the bottom line and increase in project scope and schedule.

I have a feeling this is only the beginning of the bad news...if the project even sees completion at all.
So the original assessment was without carbon tax?

See, it f-cks shit up.
Without factoring in carbon tax...or government administration and inherent inefficiency, or inflation due to holdups and project schedule extension, or further environmental protest delay costs and security, or future stakeholder management (which Trudeau has already shown his complete incompetence in managing), or loss of intrinsic value (resale to private sector at a loss)...

And this doesn't even account for lost resource revenue from not moving product through the new pipe due to at minimum a year's delay.
“There are those who claim that the only good thing government can do when it comes to economic growth is to get out of the way,” Finance Minister Chrystia Freeland said in her budget speech in the House of Commons on April 16. The line was intended to bait the Conservatives, and it worked perfectly, drawing a boisterous applause from the Opposition benches.

“I would like to introduce those people, those people who just cheered,” Freeland continued, “to the talented trades people and the brilliant engineers who, last Thursday, made the final weld, it’s known as the ‘golden weld,’ on a great national project: the Trans Mountain Pipeline.”

As a stone-faced Environment Minister Steven Guilbeault looked on in horror, the finance minister proceeded to pat her government on the back, saying that, “It took an activist, determined Liberal government to get it built. And last week, the Bank of Canada estimated that this project alone will add one-quarter of a percentage point to Canada’s GDP.”
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It was the most cringe-worthy part of a very cringey speech, and it speaks to the complete lack of self-doubt these Liberals have in their ability to solve any challenge by bringing the full weight of centralized government to bear on it.

Yet Freeland’s boasts raise an obvious question: if this pipeline is so great for the economy, wouldn’t having more pipelines be even better?

It should be remembered that although the Trudeau government did swoop in and buy the fledgling pipeline project from Texas-based Kinder Morgan in 2018 for $4.5 billion, it came with a trade-off.

When Prime Minister Justin Trudeau gave his blessing to the Trans Mountain expansion in 2016, he also put the final nail in the coffin of the Northern Gateway and Energy East pipelines — both of which would have been built by Canadian companies using private capital.

A year after buying the pipeline, the federal government passed bills that imposed an arduous approvals process on new infrastructure projects and banned tanker traffic off the coast of northern British Columbia, effectively ensuring that no more pipelines would get approved, and even if one did, much of the West Coast would be off limits.
After more than a decade of jurisdictional squabbling, political grandstanding, activist obstructionism, legal wrangling and bureaucratic delays, the Trans Mountain Pipeline expansion gained final approval earlier this week and began shipping oil on Wednesday.

Despite coming in years behind schedule and nearly $27 billion over budget, the pipeline is being hailed by some Liberals as a triumph of Big Government, with the “golden” or “final” weld on April 11 drawing parallels to the Last Spike driven into John A. Macdonald’s Canadian Pacific Railway on Nov. 7, 1885.
 
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