Author Topic: The Wreck of BC  (Read 4943 times)

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Offline wilber

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Re: The Wreck of BC
« Reply #975 on: May 29, 2018, 10:37:00 am »
Hey, fellow Canadians, we're now proud owners of a pipeline project, purchased at $4.5 billion from Kinder-Morgan.

It will be run as a crown corporation, presumably with the goal of selling or privatizing it to recoup taxpayer investment once the project is built.   But maybe they should keep it as a crown corporation, and use the money it makes to fund environmental initiatives and renewable energy r&d.

 -k

Supposedly Kinder Morgan has spent 1.3 billion on the expansion, so that 4.5 billion better also include the existing line, not just the new project.
"Never trust a man without a single redeeming vice" WSC

Offline Omni

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Re: The Wreck of BC
« Reply #976 on: May 29, 2018, 11:07:06 am »
Supposedly Kinder Morgan has spent 1.3 billion on the expansion, so that 4.5 billion better also include the existing line, not just the new project.

According to what I heard from Morneau this am the existing line is included in the deal. So at least their will be revenue from that as this plan unfolds.

Offline wilber

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Re: The Wreck of BC
« Reply #977 on: May 29, 2018, 11:10:26 am »
Just read the BNN article. It does include the existing line, terminals and other infrastructure. Could be a good deal for the taxpayer provided some government doesn't get rid of the thing in a fire sale.
"Never trust a man without a single redeeming vice" WSC
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Offline ?Impact

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Re: The Wreck of BC
« Reply #978 on: May 29, 2018, 04:27:04 pm »
Supposedly Kinder Morgan has spent 1.3 billion on the expansion, so that 4.5 billion better also include the existing line, not just the new project.

Yes, existing line is included. I would assume the right-of-way is a major asset.
Could be a good deal for the taxpayer provided some government doesn't get rid of the thing in a fire sale.

Agreed, but unfortunately governments love fire sales:
  • 407
  • Bruce nuclear
  • Hydro One
  • AECL
  • Petro Canada
  • Canada Wheat Board

Offline wilber

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Re: The Wreck of BC
« Reply #979 on: May 29, 2018, 06:45:50 pm »
Listened to Elizabeth May expound about how stupid the government was to get stuck with the old pipeline as part of the deal. I guess she thinks the reason KM wanted to expand TM was because it is unprofitable. What a moron. Ideology has a habit of making politicians fiscally stupid, if they weren't that way already.
"Never trust a man without a single redeeming vice" WSC

Offline wilber

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Re: The Wreck of BC
« Reply #980 on: June 01, 2018, 10:50:28 am »
Given Trump's apparent desire for a trade war, is anyone having second thoughts about the wisdom of keeping our energy exports at the mercy of the Americans?
"Never trust a man without a single redeeming vice" WSC