Taxpayers just bought a pipeline

[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.