Taxpayers just bought a pipeline

[bucket]

For 4.5 billion. WTF. Kinder morgan just wanted certainty for their investment....thats pretty good certainty.

And for shareholders...


The government is now in a quandry....is it environmentally friendly or just out to protect big oil shareholders....

Not sure what to make of all this...

[SASKFARMER3]

Trudeau can’t have it both ways and if he doesn’t change course we are on way to a 60 cent dollar lots of job losses and lots of bankruptcy.

So it’s either UN bullshit or worry about your own country.

Cons 36%

Libs 34%

I believe people are waking up it’s fun to have a flamboyant leader but he needs some brains and this one doesn’t have much up stairs

[Oliver88]

The other option would of been Trudeau enforcing federal law and showing some leadership.....but instead he will use our tax $ and turn a $7 billion project into $20 billion now that the government is managing it.

We will see how expensive this gender neutral Bombardier pipeline that is powered by solar energy turns out for Trudeau. 🙈

[samhill]

Film flam people wth accounts in the Caymans.

[Guest]

at least its money coming to the west
to bad they wouldn't buy a railway or two also

[bobofthenorth]

What's really changed? If you're a contractor looking to lease track hoes, buy fuel and hire employees, are you likely to trust that Bill Morneau, who can't even get long term government employees paid regularly, is going to pay your invoice in any kind of timely fashion? This is just another example of this government's cabinet incompetence. They blew the surplus that was handed to them. They pissed away three viable private pipeline projects. Now they are pretending that Kinder Morgan is going to go ahead but the only winners in this whole miserable fiasco are the Kinder shareholders.

[sumdumguy]

at least its money coming to the west
to bad they wouldn't buy a railway or two also

Feds should take away the running rights of these two useless railroads and give the rights to someone who can run a railroad 24/7.

[the big wheel]

Might be the best thing. Obviously it's going to go forward now.

Kinder was milking this situation for all it was worth also.

Would have cost way more than 7 billion for kinder as they would have spent at least a couple billion getting advice from Wall and the high price Calgary Alberta lawyers. Hahahahahaha!
Is he out of a job now? Lmao!!

And yes take over the useless railways not just for agbut our entire economy.

[foragefarmer]

BOB

" They blew the surplus that was handed to them. They pissed away three viable private pipeline projects."


As apposed to what Closet Boy accomplished during his tender as PM. What did Harpo get done regarding the three major pipelines you mentioned, and what did he do with 13 Billion dollar surplus Paul Martin left him? Short memory!

I would have thought all the Agriviller's claiming the West is always forgotten would be some what happy that this will bring some economic prosperity to the West.

I'm not and expert but isn't this a start rather than being held hostage by Kinder Morgan?

[Robertbarlage]

this government ain't building shit.

[Oliver88]

Kinder Morgan sure got a good return on their investment:

Kinder Morgan paid US$377 million for the existing Trans Mountain pipeline, back in 2007. Trudeau just offered CAD$4.5 billion for the same pipe today, not counting the $7.4B expansion Trudeau's buying.
https://www.kindermorgan.com/content/docs/KMP_3Q_Rpt_2012.pdf

If Kinder Morgan went ahead with approved expansion taxpayers would pay $0.

This was all done to buy a few votes in the next election.

[Horse]

This was all done for a few votes.!! Isn't that what politics is all about, job 1 get reflected.

[sumdumguy]

I think JTlost more votes than he gained. Did you here the comments from BC Eco-Crackers?

[SASKFARMER3]

Do I get issued a share from the little prick in Ottawa for 125.00 as my share in his latest adventure of peewee herman

[dmlfarmer]

Kinder Morgan sure got a good return on their investment:

Kinder Morgan paid US$377 million for the existing Trans Mountain pipeline, back in 2007. Trudeau just offered CAD$4.5 billion for the same pipe today, not counting the $7.4B expansion Trudeau's buying.
https://www.kindermorgan.com/content/docs/KMP_3Q_Rpt_2012.pdf

If Kinder Morgan went ahead with approved expansion taxpayers would pay $0.

This was all done to buy a few votes in the next election.

The US$377 million which Oliver88 claims Kinder Morgan paid for Trans Mountain was actually a tax writeoff for impaired goodwill mostly arising out of the sale of natural gas distribution assets which KMI sold to Fortis in 2007..

In fact, in 2005 Kinder Morgan paid 5.6 billion for Terasen Pipelines, the current owner of Trans Mountain Pipelines. (prior owners were BC gas. The original builder of Trans Mountain were Canadian Bectal and Standard Oil back in 1957) KMI then built the Anchor Loop, expanding Trans Mountain capacity for an additional 1.3 billion bringing the investment total to 6.9 billion. However, included in the Terasen-Trans Mountain sale was the BC natural gas distribution network, which in 2007 KMI sold to Fortis for 3.7 billion. As a result, the approximate amount KMI actually paid for the Trans Mountain assets was $3.2 billion or almost 10 times what Oliver88 claims.

Furthermore, it is estimated Kinder Morgan has already spent about 1 billion in the current expansion planning; money they probably wanted to recoup in a sale.