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Trans Mountain Pipeline
That's the thing about politics; 50% hate you and 50% love you. But for Alberta, this was one thing Trudeau did that will help a lot of people in the oil patch.
https://vancouversun.com/business/tr...n-oil-pipeline |
That reads as though you're giving Trudeau credit for Trans Mountain getting built. Is that how you meant it?
Because that's like thanking someone for not breaking your legs after they've already broken your arms and stolen your wallet... |
Trudeau for Prime Minister!!!!!!!!!!
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I will give no credit to the Liberals.
Or he could have just let it get built in the first place so it didn’t take so long and be so far over budget and maybe not waist a bunch of tax payer money.
They turned it into a financial disaster just like everything else they have touched! |
One thing Trudeau did?? What, stopped private capital from being able to build an enormously beneficial project with endless regulatory hoops and legislation and focused animosity on the energy sector, then after someone explained the repercussions, he does an about face and spends 5x the amount of public money to complete it? Yes, so grateful we should be.
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taxpayers any service, he just delayed the project, and made us pay for it, instead of having the project completed by the companies that started the project. Only a true woke/socialist person would see Trudeau's interference in this, as a good thing. |
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While the Liberals slap themselves on the back and sip back champagne for increasing the west coast access for oil export, does ANYONE here remember what he did on getting elected to the permitted, routed, and procured Northern Gateway Pipeline?
Apparently NOT. Northern Gateway would have taken oil from a number of Alberta producers to the West Coast. One plan was Kitimat, but on the argument of tanker traffic and oil spill risk, it was cancelled by Trudeau. Another terminal could have been Prince Rupert. That project was set to start construction in 2016, but was cancelled after the election of the Liberals. Trudeau claimed he had kayaked in the great northern rain forest so he declared himself an "expert". Instead, we increased tanker traffic to Kitimat with an LNG terminal, and apparently an LNG tanker can do no harm if it hits a reef or runs aground. So don't ask what Ottawa has done for you. Ask what Ottawa has done TO you. Drewski |
Plus its kind of to late. Would be a real Lazarus miracle to bring back what we once had. Its good that someday it will get built. But oil and gas sector so devastated I don't think it will ever be what it was.
To many bankrupted. To many outfits left the country and are busy in other spots in the world. Why come back and risk same nonsense? |
If anyone in the real world did this, they would never be allowed near money again.
But government gets a pass.....got it |
Sigh. Why does the pipeline need to be sold? Why not keep it under crown corp so our future generations can enjoy prosperity? Instead, we’re going to sell it to the private sector corp at a likely $10-15,000,000,000 write down. Some estimated say after interest+debt repayments it’ll likely churn a profit for years to come.
Of course, Canadian taxpayers don’t deserve to reap the benefits of publicly paid for infrastructure, only shareholders (or worse, foreign private equity). I mean christ, it’s a pipeline, even if the operates it rather inefficiently, as long as the line maintains solid uptime it’s all negligible given the revenue it can produce. |
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That’s estimates on crown corp operations, too. Now, analysts have been substantially wrong before (such as on the construction of the pipeline), but you’ll note that publicly traded well experienced midstream corp TC Energy also experienced major cost overruns ($6 billion to over $15 billion) on CGL, but moreover operation & maintenance on a pipeline is substantially more simple than construction of pipeline through the Rockies so overruns should not be nearly as prevalent. Even if they manage to completely bungle operating costs and double them from $600m to $1.2b, there’s still $200+m worth of free cash flow off this project. It’s still a net benefit. The dislike for the current Prime Minister shouldn’t overshadow what is good decision making. Not everything has to be about “owning the libs”. |
And then, you get things like this that make you wonder, Russian LNG project, and who's funding that, along with who is evading sanctions to sell product to it. https://www.reuters.com/business/ene...ay-2024-04-04/
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BW |
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Looking at the billions in extra construction costs under the federal government, it is only logical to assume that operating/maintenance costs will also greatly exceed estimates. As long as the liberals are in power, they have control over the pipeline, so it's perfectly logical to expect incompetence and corruption , like SNC, and WE. So the odds are, the incompetence and corruption will result in the pipeline operating at a loss ,rather than at a profit, if it remains under government control. |
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Stupid wacko! |
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Yahooooo!!!!!
https://media2.giphy.com/media/67ThR...F9JH/giphy.gif Sent from my iPhone using Tapatalk |
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Should be some good hunting on those green pipe lines this year .
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Alberta’s provincial pension fund has publicly expressed interest.I know that's not the same as the APP, but... ARG |
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When you have people local to the LML getting paid crazy LOA and sleeping at home every night, that doesn’t help.
Over runs like site c….. |
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