Predictably, the federal government’s nationalization of the Trans Mountain pipeline has created a money losing boondoggle. Perhaps it should be renamed the Springfield Monorail.
The latest analysis by the Parliamentary Budget Officer (PBO) released Wednesday shows the net present value of the pipeline is negative $600 million.
The financial analysis takes into account new developments, such as budget overruns that peg the current cost of the expansion at $21.4 billion: a 70 per cent increase from an earlier estimate of $12.6 billion.
The new PBO report also reflects the fact that the pipeline’s projected completion date has been pushed back to the third quarter of 2023.
“Once we take into consideration the purchase price, the cost of expansion and the stream of revenues over a 40 year period,” PBO Yves Giroux told CTV News, “the pipeline will not be generating, overall, a profit.”
The government is so inept at such things that if it managed the Sahara Desert, it would run out of sand.
I guess they missed how many times they were ordered to close down by our government officials…
Like…
Nesting season by Native Community warnings.
High humidity is now ordered closures due to ‘forest fire’ warnings.
Failures to adhere to government restrictions comes with hefty fines.
It was shuttered for weeks because of hummingbird nests. Thousands and thousands of frogs were caught and moved. All kinds on extremely stupid shit has gone on….
If they sold pot they would lose money. Oh wait…
When I worked in an oil refinery during my undergraduate summers, I heard a phrase used to describe someone completely inept: “He’s so stupid that he’d screw up the Lord’s Prayer.”
That could easily apply here.
Our Daddy, who art in Ottawa
Hell would be your names …
That’s as far as I got … gotta go do chores … to keep the bank book in the black
Did I read somewhere that a lot of the floraa nad fauna on the pipeline are being moved by hand.Seriously!.. why the price is going thru the clouds. Deliberate of course. And as an aside. why is PMPoopy not being forced to live in “sustainable “housing.. especially in the winter?
Does anyone think the pipeline will ever be used?
Its entire purpose is to feed moneys to government lackeys and cronies that will contribute back to the correct candidates.
Or, the purpose here, is for Big daddy Gubermint, to demonstrate how uneconomical pipelines are. Therefore, they all need to be shutdown.
Self-fulfilling prophecy from Greenie Gubermint.
Force it to fail by any means, then claim it as fact. The LIEberal way.
Correct, DanBC. Furthermore, the libs have likely
figured that since no individual will be able to discern a direct negative to him/herself, there will be no political damage.
The goal is to waste so much money (bribes, payouts) that it will never, ever be put into production – the perfect cover for the Liberal/NDP coalition’s real goal and a perfect example of the climate change modus operandi.
Train wreck Biden was bought by the railway industry and hence…
No pipelines…
His backers wouldn’t be impressed.
What does Justin need the pipeline for any more anyway?
China is getting oil from Russia at a fraction of the cost of getting it out of the ground in Alberta.
My feeling is this is by design. As in how much money does it cost to build a pipeline in Saudi Arabia and how many weeks?
Of course it’s by design. The project will go completely belly-up, like it’s supposed to, and then the government can point to it and say, “See? Pipelines aren’t economically feasible any more, if they ever were in the first place.”
Prinz Butts will, of course, crow victoriously about it as he claimed that alternate routes for pipelines are unnecessary as we need an “alternate” economy.
Attempting to make everybody happy has turned into a failure.. Too many fingers in the pie.. Now that we got a 14 billion dollar half built failure on our hands lets all cook our dinner over dried dung to celebrate..
Only Canada could F up pumping liquid gold..
With oil at well over $100 a barrel…
This clusterfl*ck bunch of half wit managers couldn’t manage a lemonade stand in a heat wave.
Cheers
Hans Rupprecht, Commander in Chief
1st Saint Nicolaas Army
Army Group “True North”
Canada was busy screwing it up when oil was $147.00 a barrel.
Close enough for government work. It’s not like NPV actually means anything to them, if they need more money they just print it. What could possibly go wrong?
That’s a one year project.
Your federal govt at “work”.
At the conclusion of that simpsons episode they built the escalator to no where. Perfect goverment program in Canada.
The pipeline is only a small part of the plan. When you put a jigsaw puzzle together you start by putting all of the pieces of the jigsaw on the table and turn them face up. Let’s start with that and you’ll soon realize what has transpired in the last ten to fifteen years. The latest piece to be looked at is the announcement today at the G7 that we are going to commit 6 billion dollars to climate change. The ultimate picture that is beginning to emerge is that the fiat currencies worldwide will crash. The pandemic, supply management shortages, food processing plant fires and destruction, food shortages warnings, oil supply problems, ammunition hoarding by the US government, denial of fundamental freedoms, diversification, illegal immigration and refugee problems, etc., etc., etc.,!!! These are not coincidences, they are part of a plan being imposed on us. A huge jigsaw puzzle that has been planned and is now being orchestrated in a momentous hurry because of what Trump did in the 2016 election. Start critically thinking about what is taking place and for the Love of God wake up before it is too late. Six million Jews in Germany said that the Nazis weren’t that evil, and now there are….. what four billion people injected with an experimental injection all on the basis of their governments telling them it was “Safe and Secure.” As me old grandaddy used to say “Gie yer hed a shake, son, they’re selling a cat in a bag and telling you it’s a pig!”
The main difference between this and a puzzle is that a puzzle, out of the box, has everything it needs to succeed.
Here they selected several puzzle pieces from different puzzles and put them in a pile then dumped floor sweepings, rat droppings, several types of roadkkill, carpet ends, mixed (but not cured) concrete, 5 kinds of glue and 5 different shades of red-tape on it and they’re wondering why it doesn’t look like any of the boxes anymore and what’s that smell?
Does anybody think this isn’t deliberate?
Of course it was deliberate. This federal government has been shutting down energy projects during its entire term in office since 2015. It rewrote the Environmental Assessment Act to make it impossible for new projects to ever get approval. It forced proponents to cancel prior to commitment all the projects not yet underway such as Canada East, Northern Gateway or McKenzie Valley gas pipeline. The United States government under Biden did Trudeau the favour of canceling Keystone XL.
That left Trans Mountain which had already been approved. So the Liberal government bought it to shut it down.
“Bought it to shut it down”and to prevent the embarrassing lawsuits KM might have brought for changing the rules in the middle of the game.
Thank you for that post.
It’s not like MPs personally lost THEIR money or anything.
In conclusion, Batman is a scientist.
This is NOT incompetence, as much as we’d like to pin it on such.
This is pure naked evil malevolence. Their goal was to take a perfectly viable piece of energy infrastructure, one that would benefit Alberta, and RUIN it.
“The Trans Mountain project was bought by the federal government for $4.5 billion in 2018, after previous owner Kinder Morgan Canada Inc. threatened to scrap the pipeline’s planned expansion project in the face of environmentalist opposition.”
_____________________________________________
Annnnnd, that’s all you need to know. The private company saw that it was not a profitable venture due to environmental restrictions and regulations. The government (which should not be investing in private enterprise to start with) buys it knowing full well that they had already created a non-solvent situation. The cynic in me thinks it was supposed to lose money. But, as long as it stayed in the hands of the govt…should someone come into office who would remove the environmental roadblock, no private company would be able to benefit since it would still be government owned. I smell a French rat.
The government gave Kinder Morgan an offer it couldn’t refuse…
Either sell it to the feds, or they will tie it up in court until Kinder Morgan goes bankrupt. At least with the Mafia, you can keep it and make some money at it…
Art … deliberate is too kind . Trudope and his fellow travellers have only one thing in mind and that is bring normal hard working Canadians to their knees . Seizing bank accounts is only the start . The show trials south of the border are a mirror image of what we in Canada are experiencing.
These are the people who think they can run our lives for us.
This was the precise moment the pipeline was killed,,, Sunday, April 15, 2018.
https://www.ctvnews.ca/canada/trudeau-pledges-money-new-law-to-make-trans-mountain-happen-without-details-1.3885756
Look at the picture, all smiling like Cheshire cats. After the cameras and microphones left, Gerald Butts brought in the champaign, and they toasted each other on their deception of the oil companies and Canadians that wanted the jobs and the pipeline.
They knew at that moment, the pipeline would never be completed, nor ever ship a drop of that dastardlier, dirty, western Canadian oil.
That page should be screen saver thousands of times over, because it’s one of Canada’s darkest days.
Oh, they will complete the pipeline. It’s been well underway throughout the lower Fraser Canyon corridor since last year, construction has been active in the Hope/Chilliwack region along Hwy 1…..since last year. No wonder it’s over budget, they were there last July, and still there on April.
Government projects, always over budget and over regulated.
But it’s become a male work project, rather than a for profit project. No surprise.
Well, Dan, they did have to take a break during the floods last November, and there were apparently serious repairs to be made along the route where the original pipeline was in danger of breaking because the ground had been washed away. Not to mention that their heavy equipment and trained crews were instrumental in getting supplies to isolated communities during those fraught days and pitched in to get roads back in commission. With minimal acknowledgment or thanks either; wouldn’t want to embarrass Premier Horgan and his government who had so signally failed to maintain the dykes in the Valley, let alone have any plans to shore up infrastructure in areas where rain can fall.
By design.
The theft to date,by Liberal hencemen would stagger the average Canadian.
If .
They ever heard about it.
And i they have learn some math skills beforehand.
Both mighty big “IFs” with Public Education and A government Media.
An honest audit of this project would result in firing squads and hangings.
Especially into the “Instant Pipeline Contractors” who are “Working ” for our government.
Everything government touches turns to shit,this time by design.
Originally Kinder Morgan expected to spend 3.5 billion U.S. to twin the trans mountain. So now the government has basically spent 5+ times that with no end in site. I would contend it has been hugely profitable for some people , no doubt many with Liberal ties. And there is still a good chance no oil will be pumped.
The green theocracy, and social parasitism attached to any major resource project these days ensures costs will be 2 to 3 times over what would be reasonable. Think of a cow with hundreds of teats and every one of them being sucked on by every species and interest group imaginable. That’s Canada in 2021.
+++JC