February 12th 2020
On Friday, February 7, 2020, the CEO of Trans Mountain pipeline, Ian Anderson, announced that the costs of building the pipeline expansion have “soared from an initial estimate of $7.4 billion to $12.6 billion.”
That seemingly straight-forward statement is replete with misconceptions.For one thing, the pipeline’s “initial estimate” was not $7.4 billion. In the National Energy Board hearings, Kinder Morgan estimated the cost of building the pipeline expansion at $5.4 billion. So the real leap in costs is from $5.4 to $12.6 billion.