Tuesday, May 29, 2018

Morneau's Right, They've Already Listed the Pipeline for Sale

It's a honey of a deal.

Here, check it out:  https://ottawa.craigslist.ca/hvo/d/for-sale-stalled-and/6601355647.html

h/t Deacon Jester


Hugh said...


"Taxpayers will foot the $4.5 billion purchase price. That sum doesn't include what could be billions of dollars in construction costs, or the costs of cleaning up a spill — although Morneau said Alberta's government will share the cost of any unexpected or emergency cost overruns."


Hugh said...


"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.

In 2007, Kinder Morgan reported to the National Energy Board that it valued the Trans Mountain pipeline system at $550 million.

Let’s repeat that fact: the federal government will pay $4.5 billion for an old and compromised tanker and pipeline system that the company valued at $550 million in 2007.

“The federal government have overpaid for an aging asset that has huge integrity problems. Every year they have to spend more on maintenance to keep it running,” added Allan.

Next, taxpayers are on the hook for the cost of twinning the project — an estimated $7.4 billion and climbing."


the salamander said...

.. After all these years, I must be asleep at the wheel ..
I must have missed the excellent consequentials of extirpating species
by destroying habitats .. you know.. the boreal forests
The inland waters must bear the cost..
not just of tar sands lakes (not ponds) & toxins
So lets just accept the Caribou are toast & related food chains

Off we go gaily via heated pipelines with the 'wealth'
To Vancouver we shall go to supertankers half full heavenly
and off thrashing the Salish Sea nailing all sorts of habitat/species

Goodby wild salmon, orca
and never a worry, we have 'world class' dilbit recovery

Sure sure.. we've had problems in the past just with diesel fuel recovery
from small tugs on the rocks
but dilbit for Asia or Washington State we have it covered
and this is for 'The Economy' dontcha know !
It must be grown..

This is the pathway for fracking of gas n oil to follow
To Asia or some ally it shall go
zillions of high paying jobs at stake
most for temporary foreign workers

calloo callay
these are exciting times for species extirpation
abandoned wells leaking methane
and supertankers providing 'Energy Security For Canadians'