Because the last time a Liberal PM built a pipeline it was too divisive and costly, this PM will checks notes do exactly the same thing again.
TMX 2: Electric Boogaloo!
Any bets on initial-final cost spread this time?
Because the last time a Liberal PM built a pipeline it was too divisive and costly, this PM will checks notes do exactly the same thing again.
TMX 2: Electric Boogaloo!
Any bets on initial-final cost spread this time?
The idea is to use the existing corridors, thereby bypassing a lot of the legal requirements for third party right of passage.
Unfortunately for them, there’s still a LOT of environmental assessment that applies, and some of that has to deal with what let the last one go through, which was max overall flow levels. Doubling the flow will put the levels WAY over the previous impact assessment values, which in a sane world would make this proposal DOA.
The idea is also for it to be privately-funded, which would make it even DOA-er.
Unless OP knows something we don’t?
Looks like it’s being funded by TMC, so taxpayers again. The private partner is being brought in for their “expertise.” No doubt they’ll be well compensated for expertise, especially as there’s obviously no alternative source of expertise available, especially not with a TMC in the lead after they built TMX.
It’s a Crown corporation, so taxpayer funding should be minimal, but it seems there are mechanisms for them to receive loans from the Ministry of Finance, which is a shame.
If due diligence is actually done, I would still predict that this thing fizzles out in a few years without actually getting built.
How minimal was taxpayer funding to TMX on their last pipeline project? Where will the between $35.2 billion and $43.7 billion come from?
Yes, I’m fully aware of how much heavy lifting “should be” was doing - that’s why it was there.
The expansion was supposed to be privately-funded too Kinder Morgan and all their customers were gonna pay.
Then when the Feds bought it the pipeline was supposed to be bought by private companies at a profit for Canadians.
When it got over $21.4B in costs there was supposed to be no more federal money for it.
Words are nothing but wind.
Edit: as predicted, broken promises, pipeline funded primarily by tax dollars from the Feds and Alberta. https://www.theenergymix.com/90-public-ownership-as-carney-smith-announce-new-pipeline-into-declining-global-oil-market/
Then why pay attention to any of it?