A $4.5 Billion MistakeMay 30, 2018
Weeks ago, I predicted that this was going to happen. The Trudeau government has repeatedly failed on the oil and gas file and Albertans have paid the price. The Liberals announced that they will be using taxpayer dollars to buy an existing 60 year old pipeline from Kinder Morgan for $4.5 billion. We are no closer to constructing a new pipeline now than we were before the government threw this money down the drain.
Let’s be clear: the Liberal government did not buy the Kinder Morgan extension. They did not buy the construction of the pipeline. All they did was pay a company to go away and then bought a 60 year old pipeline. This is taxpayer’s money that is being thrown away. Kinder Morgan did not ask the government for a handout. Kinder Morgan was willing and able to build the pipeline and all they asked for was an assurance that the project could go ahead.
The Prime Minister failed to provide this certainty and instead has created an environment so toxic for our oil and gas industry that Kinder Morgan had to issue an ultimatum to the government. The Prime Minister will try to take credit and claim this as a win, but the truth is that we are no closer to this pipeline being built than we were before.
The Liberal government has had a year and a half to come up with a solution to ensure that this project gets built. They failed on that front. Their only response is to throw $4.5 billion of taxpayer’s money and nationalize the Trans Mountain expansion. Well, we all know what happened the last time a Trudeau nationalized parts of our oil and gas industry.
Canadian taxpayers are left with all the risks. $4.5 billion is not even the final cost and the Trudeau government has refused to tell Canadians what the final cost of this project may be. What the Prime Minister should have done from the beginning was signal that Canada is open to investments, and to stand up for Canada’s resource sector. That is what a responsible government would have done. Instead, they repeatedly put up roadblocks and hurt the chances of Kinder Morgan being successful at building this pipeline.
There are many questions left unanswered by the Trudeau government’s announcement. Our Conservative opposition will continue to press the government to provide Canadians with the answers they deserve. Unfortunately, this is nothing new from the Trudeau government that cancelled the Northern Gateway pipeline and killed Energy East. Albertans cannot rely on this government to stand up for their best interests.
What do you think? Have your say and let me know your thoughts: http://www.blakerichards.ca/trans-mountain-expansion/