The Trans Mountain Expansion has been a terrible story for Canadian tax payers
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- Опубликовано: 8 июн 2024
- Ryan Bushell, president and portfolio manager at Newhaven Asset Management, joins BNN Bloomberg to discuss the Trans Mountain Expansion cost estimate rising again. Bushell says it could have been done a decade ago, for a fraction of the price. He also discusses his top picks Emera, Brookfield Infrastructure and Pembina.
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Who would have guessed that the government would screw taxpayers
Yep, the govt looking after the construction of anything generally ends in disaster it seems.
Thanks canadian government - wasted taxpayer money, massive incompetence and as usual no consequences or accountability.
Wouldn't have mattered WHO built it.... even with Private Sector Builder's there is NO WAY they would have proceeded with Government/Public Money Loan Guarantee's
@@dirtlump why not?
Big Oil invested in the original TransMountain Pipeline in the mid 60’s and have been shipping on it since . Big Oil invested in the expansion of that same pipeline almost 20 years ago. Environmental extremists supported by the Green Party of Canada, the NDP party of B.C. and the federal Liberal party via bill C69 ( No more Pipelines act) threw up so many roadblocks that Kinder Morgan could no longer complete their end of the contract so gave up and sold the pipeline and expansion to the only “ Investor” willing to take the risk….The Canadian taxpayer.The pipeline and expansion now under the control of the federal Liberals was exposed to complete incompetence. The cost and timeline has been extended 10 years and $34B. When the line is complete, no investor could ever justify paying this elevated price so the government of Canada would have to take a huge write down. The taxpayers of Canada are on the hook for the entire write down. Simply one of the numerous blunders the Trudeau/NDP coalition have contributed to the spike in inflation and skyrocketing DEBT.
TMP does not originate in Edmonton. It starts in Strathcona County.
Everything government touches turns to crap. Ringo Starr
I built pipelines. Costs were minimized by using a moving assembly line technique and not ever stopping progress of the work. I also saw what could happen when governments and interest groups became involved. In the early 90's for a time I was the Engineering Manager on the TQM pipeline from Montreal to Quebec City and it was a mess.
The taxpayers owe the oil industry nothing.
It's not the oil industry, it's the Liberal Party of Canada that purchased and nationalized the pipeline with taxpayer money 🤦♂️
Canadian taxpayers have bailed out autos, this pipeline and have lost 10s of billions. All for what?
Sneakers with suits has to stop !
BC NDP cheers Horgan way to cost us all a bunch of money
While it was disappointing to see the final cost of the pipeline, Canadians should be comforted by the fact that this pipeline is a kind pipeline. It was built with an eye to gender quality plus it was built totally respecting indigenous rights and it was also very environmentally friendly. As Canadians, we should be thankful that we had a caring government that would step in when private industry showed little regard for gender equality, indigenous rights and the environment.
No such thing as a "kind" pipeline. Respecting indigenous rights and advocating for gender equality is great, but in no capacity is this pipeline environmentally friendly. I don't understand how the government providing tens of billions of financial support for the fossil fuel industry doesn't implicate them in this mess. We need to phase out fossil fuels and transition to low-carbon infrastructure ASAP to have any chance of meeting climate goals and avoiding catastrophic climate change. Projects like this pipeline are a massive step backwards from that goal.
I feel like Atlas with the weight of the world on my shoulders what a blunder at our expense oh but trudeau wants all electric only by year 2035 DA!Am I missing something?🙈
The Trudeau gov't has been a terrible story for Canadians. Tax payers and everyone else.
I sometimes wonder why did Trudeau Government decide to buy this pipeline …. They were and never will be getting any seats in AB anyways ….
Simple: an incredible opportunity to build a useless bloated federal bureaucracy and funnel billions to their insider friends
@@kirkmiller9852 very true…there is incredible amount of political corruption and nepotism in Canada….i wonder whether not following consultation processes when making such decisions with public money can be a punishable offence…
Well, their family friend can make some money, by being intermediate contractors.
Big oil is too poor to fund their own infrastructures?
The government wanted to do it themselves they shutdown private investment. Thanks eastern Canada keep importing Saudi oil into Montreal, smart people 👍🏻
BC did everything in their power to stop this, not to mention the incompetent federal gov
@oshkoshegome knows what’s going on. Other people’s minds are controlled by the liberals polluted the lib propaganda. Can’t think for themselves anymore, expect the government to make every decision for them.
Big oil puppets bots are extra active these days
Trudeau puppets.. aka liberal voters are always actively obedient. Good boy