Trans Mountain is on track to deliver Canadian oil producers a $2-billion taxpayer-funded toll subsidy for capacity on its existing pipeline and has asked the federal pipeline regulator, the National Energy Board (NEB) for permission.
If the NEB approves the toll application Trans Mountain has filed with it, it will shift the burden for the roughly $3 billion Ottawa paid to buy the regulated assets onto Canadians, rather than into tolls charged to shippers where the recovery of these costs belongs.
Morneau may not have been fleeced, but certainly paid at the high end of the valuation scale, apparently assuming that everything would proceed smoothly
January 31, 2019
The sticker price Kinder Morgan put on the Trans Mountain pipeline when it entered negotiations with the federal government last year was $6.5 billion. Hence, finance minister Bill Morneau and his team thought they’d scored a bargain when they sealed the deal at $4.4 billion.
But it looks increasingly like he may bought a cat in a sack.
[The Trudeau government stole this money from us. They stole it from our public services and our hospitals and our schools. They stole it for Kinder Morgan shareholders. All this money to build a pipeline on stolen land in a time of climate crisis. https://twitter.com/kateljacobson 8:01 AM - 31 Jan 2019]
Members of the Athabasca Chipewyan First Nation (ACFN) in northern Alberta voiced its opposition to the Syncrude Mildred Lake extension project on Monday at a hearing in Fort McMurray, Alta.
“This project here is just going to continue to add to more problems we are having today,” said Chief Allan Adam of the ACFN.
Government support for six new tar sands/oil sands pipelines and four major liquefied natural gas (LNG) projects, along with assorted tax cuts and regulatory breaks, led the wish list the Canadian Association of Petroleum Producers (CAPP) released Tuesday in advance of the provincial election coming up in Alberta this spring.
Prime Minister Justin Trudeau is relying on an aggressive and outdated Western Canadian crude oil supply outlook to re-approve Trans Mountain’s expansion. Trudeau’s outlook seriously contradicts the supply forecast oilsands producers support as commercially viable.
A pair of experts on global warming have thrown their support behind a new legal motion urging the National Energy Board to consider all climate-related impacts from the proposed Trans Mountain oil pipeline and tanker expansion in its latest review of the project.
