Analysis: Canada may struggle to recoup $26 billion cost of Trans Mountain pipeline
Analysis: Canada may struggle to recoup $26 billion cost of Trans Mountain pipeline
Canada faces an uphill battle to recoup the roughly C$35 billion ($25.74 billion) in taxpayers' money it has sunk into the Trans Mountain oil pipeline, as uncertainty over shipping tolls and a limited pool of buyers cloud the asset's unique strategic value.
$35B could have built some nice transit infrastructure. Just saying
Of course it will!!!!
We're at a point in history where we will be reducing our dependence of oil!!
We signed the fucking Paris agreement on climate action! What the fuck were they expecting??
Buncha morons.
In the meantime, CBC: Canada could lead the world in oil production growth in 2024.
I always thought of it as a welfare program for the oil pipeline workers.
All done for Alberta which still complains about literally fucking everything
I live in Alberta and life is really good here. I wonder why so many people here are so quick to complain about anything.
We complain about going net zero, but many if not most companies are going net zero already, even though the provincial governments acts like it's impossible. The reason is because foreign investors aren't investing in pollution anymore. It's no longer profitable and it's a stain on any companies image/brand.
I work in the midstream and we'll be net zero in 2-3 years while our government is spending money like crazy trying to fight any change.
It's frustrating to say the least but ideally Canadians know Albertans aren't some homogenous group and some of us actually give a fuck.
Quelle surprise.
Although with the amount of new coal plants coming online, maybe there is still time to cash in on other carbon intensive fuels.
Trudeau bought this to please Alberta and Manitoba, but he didnt squeeze a single vote out of it. Also, wasn't ir 38 billions overall?
This is the best summary I could come up with:
The federal government plans to sell Trans Mountain once a long-delayed expansion to nearly triple the flow of crude from Alberta to Canada's Pacific Coast is completed early next year.
The sale, however, has seen muted interest from other pipeline operators due to higher financing costs, while long-term investors like the pension funds are likely to steer clear on concerns about exposure to fossil fuel assets, analysts said.
Prime Minister Justin Trudeau's Liberal government bought Trans Mountain in 2018 for C$4.5 billion to rescue the expansion project, which has struggled with years of regulatory delay and massive cost overruns.
Trans Mountain Corp (TMC) CEO Dawn Farrell told local media last week the sale could wrap up by early 2025, just as Canada heads into a federal election.
The vast majority of Trans Mountain's long-term value will be determined by tolls that are still not finalised, said Stifel Canada analyst Michael Dunn, adding he would be "surprised" if the government recovered its full investment in a sale.
The difficulty of building new pipelines and guaranteed tolling revenue makes Trans Mountain attractive to First Nations, said Paul Poscente, CEO of Axxcelus Capital, which advises Indigenous communities on infrastructure investments.
The original article contains 776 words, the summary contains 197 words. Saved 75%. I'm a bot and I'm open source!
A pipeline through Celeste?
Wait now even the pipelines are trans now, what next the oil?
/S
Don't let the conservatives know there is gay oil, they'll pass a law that the gas station has to inform you of their fuel's pronouns before you fill up.
Shouldn't we ask the mountains how they identify before we call them Trans?