Trans Mountain Pipeline

[Moe]

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

[Walleyedude]

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...

[Talking moose]

Trudeau for Prime Minister!!!!!!!!!!

[BuckCuller]

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!

[Twisted Canuck]

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.

[elkhunter11]

Originally Posted by Twisted Canuck

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.

Exactly, he didn't do the oilpatch or the Canadian
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.

[Grizzly Adams1]

Originally Posted by BuckCuller

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!

There it is, the primary reasons for the massive cost over runs.

[Drewski Canuck]

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

[W921]

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?

[huntinstuff]

If anyone in the real world did this, they would never be allowed near money again.

But government gets a pass.....got it

[jstubbs]

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.

[Sleddawg]

Originally Posted by jstubbs

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.

What now? You don't actually think that something owned by the government would benefit we the people in reality do you? No, it would be a place for them to make money to pad their pensions and ship overseas to please everyone but their own people.

[jstubbs]

Originally Posted by Sleddawg

What now? You don't actually think that something owned by the government would benefit we the people in reality do you? No, it would be a place for them to make money to pad their pensions and ship overseas to please everyone but their own people.

Nothing you wrote gives any reason to negate keeping it nationalized. Government spending is it’s own issue; I’m talking about revenue here.

[elkhunter11]

Originally Posted by jstubbs

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.

Do you honestly think that the liberal government could possibly run a pipeline to make a profit for the taxpayers? More like they would hire their buddies to run the pipeline and maintain it, and the pipeline would run at a loss, while their buddies made a profit, and kicked back some cash to Trudeau in appreciation.

[jstubbs]

Originally Posted by elkhunter11

Do you honestly think that the liberal government could possibly run a pipeline to make a profit for the taxpayers? More like they would hire their buddies to run the pipeline and maintain it, and the pipeline would run at a loss, while their buddies made a profit, and kicked back some cash to Trudeau in appreciation.

They’re estimating yearly the pipeline will be incurring $3 billion in revenue and operating costs of $600m. That’s before $1.6 billion per year in interest costs, which shrink as debt is reduced. So at current projections, there’s $800m worth of cash flow available for debt repayment and/or remittance to the public purse right out of the gate that should only grow.

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”.

[32-40win]

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/

[Bigwoodsman]

Originally Posted by jstubbs

They’re estimating yearly the pipeline will be incurring $3 billion in revenue and operating costs of $600m. That’s before $1.6 billion per year in interest costs, which shrink as debt is reduced. So at current projections, there’s $800m worth of cash flow available for debt repayment and/or remittance to the public purse right out of the gate that should only grow.

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”.

Our lieberal leader does not think in monetary terms, or fiscal responsibility. There is no way they would operate this as a money making venture.

BW

[elkhunter11]

Originally Posted by jstubbs

They’re estimating yearly the pipeline will be incurring $3 billion in revenue and operating costs of $600m. That’s before $1.6 billion per year in interest costs, which shrink as debt is reduced. So at current projections, there’s $800m worth of cash flow available for debt repayment and/or remittance to the public purse right out of the gate that should only grow.

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”.

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.

[59whiskers]

Originally Posted by elkhunter11

Exactly, he didn't do the oilpatch or the Canadian
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.

Some Friend of the Liberal/NDP parties will be given a pipeline cheap?

[sewerrat]

Originally Posted by Talking moose

Trudeau for Prime Minister!!!!!!!!!!

Yup he build the pipeline, now he can Flick off!
Stupid wacko!

[igorot]

Originally Posted by Moe

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

They saw a milking cow for their cronies to help them finance their next election campaign. The pipeline was already being built until they created so much bureaucratic red tape that it was no longer feasible for the private sector.

[58thecat]

Yahooooo!!!!!




Sent from my iPhone using Tapatalk

[Scott h]

Originally Posted by 59whiskers

Some Friend of the Liberal/NDP parties will be given a pipeline cheap?

Seems like the perfect project for Danielle to sell her idea for an APP investment? Alberta pension money invested directly into a project with direct financial ties for Albertans.

[-JR-]

Should be some good hunting on those green pipe lines this year .

[Au revoir, Gopher]

Originally Posted by Scott h

Seems like the perfect project for Danielle to sell her idea for an APP investment? Alberta pension money invested directly into a project with direct financial ties for Albertans.

Did you happen to read the article from the OP?

Alberta’s provincial pension fund has publicly expressed interest.

“We have an active file on Trans Mountain,” Evan Siddall, the Alberta Investment Management Corp. chief executive officer, told Bloomberg. “We would look at it, the government knows that, and we’re keeping track of that situation.”

I know that's not the same as the APP, but...

ARG

[Grizzly Adams1]

Originally Posted by huntinstuff

If anyone in the real world did this, they would never be allowed near money again.

But government gets a pass.....got it

News report claims there will be a 15 Billion dollar write down when it sells.

[I’d rather be outdoors]

Originally Posted by Grizzly Adams1

News report claims there will be a 15 Billion dollar write down when it sells.

I’m shocked people are still surprised at these things, lieberal motivations are clear as day, they don’t even try to hide them anymore.

[1hogfarmer]

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…..

[Moe]

Originally Posted by Walleyedude

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...

Hey! Give credit where it is due. Even a blind squirrel finds a nut now and then

[elkhunter11]

Originally Posted by Moe

Hey! Give credit where it is due. Even a blind squirrel finds a nut now and then

More like the blind squirrel bought a nut, with our money.