Politics, Religion & Controversial

Trans Mountain Pipeline System and Expansion Project to be Sold to the Federal Government

  • Last Updated:
  • Jul 23rd, 2018 12:43 pm
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trick91 wrote:
Feb 2nd, 2018 12:07 am
Alberta NDP were not for pipelines before taking power. Attached is an image of our Environment Minister and our Premier at a pipeline protest before they were in power. They only became for pipeline after they got in power and realized they need pipelines to pay the bills.
Wait, Alberta elected a Premier that attended pipeline protests? How?
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rjg4235 wrote:
May 30th, 2018 10:11 pm
Wait, Alberta elected a Premier that attended pipeline protests? How?
Protest vote against the red tories that infiltrated the previous 2 PC parties. It was not a good move.
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rjg4235 wrote:
May 30th, 2018 10:11 pm
Wait, Alberta elected a Premier that attended pipeline protests? How?
Two right of centre parties split the vote. The result is why our Premier is known as "Accidental" Premier Notley.

There's good news and bad news. The good news is that there will be an election in Alberta just under a year from now and Notley will be unceremoniously kicked to the curb along with the rest of her horde of socialist misfits. The bad news is that they've already had three years to do what the NDP do best which is spend like there's no tomorrow, hire more public servants to pacify the unions, borrow billions and billions and billions of dollars running up the debt to ridiculous levels as a result, and raise taxes.
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Jun 5, 2017
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if this pipeline ends up being a bust for the taxpayers im going to LOL at justin and his crony liberals since they will be losing the next election.
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Assuming this story is correct, it looks like the boys in Ottawa really screwed up. I really, really hope this report is wrong.

Trans Mountain Pipeline Sale To Feds Netted Kinder Morgan A 637% Return
Meanwhile, Canadian taxpayers could be saddled with a larger budget deficit, IEEFA predicts.
Image
Texas-based Kinder Morgan made a seven-fold return on the sale of its Trans Mountain pipeline system to Canada's federal government, according to a new report that also warns the federal budget deficit could jump by 36 per cent because of the purchase.

The report comes from the Institute for Energy Economics and Financial Analysis (IEEFA), which is funded by a variety of philanthropic groups dedicated to climate and energy issues, including the Rockefeller Family Fund.

The federal Liberals announced in late May they will buy Kinder Morgan's Trans Mountain pipeline system for $4.5 billion, after the Texas-based pipeline builder warned it could cancel the project due to "continued actions in opposition to the project," specifically the B.C. government's efforts to block the pipeline's expansion.
The project has an estimated $7.4 billion price tag, of which Kinder Morgan says it has already spent about $1 billion. But the IEEFA report estimates that the company has only put about $600 million into the project so far. It estimates the company will make a 637-per-cent gain on the $4.5-billion sale.

It predicts the government will sell the pipeline at a loss "under distressed conditions."

The federal government is on the hook for about $11.5 billion in costs, including both the purchase and the remaining cost of construction, the report estimates.

"This transaction and the cost of further planning and construction could add a $6.5 billion unplanned expenditure to Canada's budget during (fiscal year) 2019," the report stated. "This would increase Canada's projected deficit of $18.1 billion by 36 per cent. to $24.6 billion."

[https://www.huffingtonpost.ca/2018/06/2 ... a-homepage]
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poleman wrote:
Jun 26th, 2018 9:46 pm
Assuming this story is correct, it looks like the boys in Ottawa really screwed up. I really, really hope this report is wrong.
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rjg4235 wrote:
May 30th, 2018 10:11 pm
Wait, Alberta elected a Premier that attended pipeline protests? How?
Face With Tears Of Joy
A wise RFD'er once said, "Buy now, think later."
I like wearing tinfoil hats.

¯\_(-.-)_/¯

༼ つ ◕_◕ ༽つ "Behold!"
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tk1000 wrote:
Jun 26th, 2018 10:28 pm
"Kevin Milligan" doesn't have a clue. We overpaid for the value of the asset based on Kinder Morgans own valuation of the asset. Overpaid by 2-3 billion because these morons running the country had to save face.

Now we have an asset which is older than its useful life and no plan to build its replacement. Sounds like good governance to me :facepalm:
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Canada dreams of sending its oil to Asia via Trans Mountain, but most if it will end up in California
Demand from California for Canadian crude is rising, and experts say the state could end up taking up to half of the new export capacity from an expanded Trans Mountain

https://business.financialpost.com/comm ... ia-beckons
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tk1000 wrote:
Jun 27th, 2018 10:52 pm
Canada dreams of sending its oil to Asia via Trans Mountain, but most if it will end up in California
Demand from California for Canadian crude is rising, and experts say the state could end up taking up to half of the new export capacity from an expanded Trans Mountain

https://business.financialpost.com/comm ... ia-beckons
Weird that California has no problem getting energy via tanker...what about their economy *when* the tankers leak????
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Jul 4, 2004
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Trans Mountain Pipeline Sale To Feds Netted Kinder Morgan A 637% Return: Report

"Meanwhile, Canadian taxpayers could be saddled with a larger budget deficit, IEEFA predicts.

Texas-based Kinder Morgan made a seven-fold return on the sale of its Trans Mountain pipeline system to Canada's federal government, according to a new report that also warns the federal budget deficit could jump by 36 per cent because of the purchase.

The report comes from the Institute for Energy Economics and Financial Analysis (IEEFA), which is funded by a variety of philanthropic groups dedicated to climate and energy issues, including the Rockefeller Family Fund.

The federal Liberals announced in late May they will buy Kinder Morgan's Trans Mountain pipeline system for $4.5 billion, after the Texas-based pipeline builder warned it could cancel the project due to "continued actions in opposition to the project," specifically the B.C. government's efforts to block the pipeline's expansion."

Image

https://www.huffingtonpost.ca/2018/06/2 ... _23468557/

Trudeau and Morneau spending billions and enslaving millions of taxpayers for future generations to come.
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I don’t get why what something was worth in the past is relevant.
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Kinder Morgan Canada Ltd. will pay $325-million in capital gains on the Trans Mountain pipeline assets it is selling to the federal government, somewhat offsetting the $4.175-billion cost, according to a filing of regulatory documents.

from https://www.theglobeandmail.com/amp/bus ... -mountain/

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