Oil - Pipelines

If Canadians are going to have to pay the $10 to $15-billion cost of expanding the Trans Mountain pipeline, it's important they aren't bound by side deals that are not in the public interest made by the project's former corporate owner.

Trans Mountain existing assets valued at $550 million in 2007.

Finance Minister Bill Morneau has proposed sacrificing Canadian taxpayers to bail out an uneconomic U.S. pipeline owned by former Enron executives.

Let’s parse the fantastic numbers, because they will affect all of us. And the bill for taxpayers won’t be $4.5 billion as Morneau claims, but much closer to $20 billion, says economist Robyn Allan.

Finance Minister Bill Morneau announced on May 29 that the Government of Canada will buy the existing Trans Mountain pipeline system from Kinder Morgan at a price of $4.5 billion.

[for original article https://ricochet.media/en/2221/kinder-morgan-will-be-trudeaus-waterloo ]

May 29, 2018

In the weeks and months ahead, there will be many political casualties of the Liberal government’s crisis surrounding the Kinder Morgan Trans Mountain Pipeline expansion. The first of these, however, was the carefully-crafted illusion that the Canada Pension Plan Investment Board’s (CPPIB) investment decisions are free from political influence. Over two decades, the Board had painstakingly constructed the pretence that Board decisions stood above retail politics.

May 28, 2018, interview