TMX 70% over budget.

[shtferbrains]

Now who da thunk?

Mr Treudau's pipline project is 70% over budget.
All kinds of reasons given but no mention of inflation or the fact everone knew when the government got involved the budget goes out the window.

https://financialpost.com/commodities/energy/oil-gas/chrystia-freeland-closes-the-door-on-new-funding-for-trans-mountain-as-project-costs-surge/wcm/48ad4256-e875-4553-81de-563c5c9d2026/amp/

[bucket]

So Canada has missed the opportunity with LNG to Europe . They will also miss the opportunity with TMX.

This is what happens when a country is run by spoiled brats.

Long story short , I am glad my land has lots of stones because Canada will become one of those countries that have citizens throwing stones for something to do.

[Retired]

I would say you can lay the blame at the feet of greedy capitalists far more than gov.

[jazz]

I would say you can lay the blame at the feet of greedy capitalists far more than gov.

Huh? The original company that owned that project had a budget of $7B and it would have been in service 2 yrs ago.

Now its over going to be $20B after the govt took it over.

Let me guess, frustrated cwb supporter.

[Oliver88]

Kinder Morgan would of completed the project for $0 of taxpayer funds but this wasn’t good enough for Skippys climate bedwetters.

$24 billion later in taxpayer funds it is still incomplete.
Skippy and Butts also enacted Bills C-48 to stop oil tankers off northern BC coast
C-69 to eliminate the chance of future pipelines
Than added a job killing carbon tax

[Retired]

Huh? The original company that owned that project had a budget of $7B and it would have been in service 2 yrs ago.

Now its over going to be $20B after the govt took it over.

Let me guess, frustrated cwb supporter.

Dont give a shit about the cwb, I hear just as much bitching and moaning about marketing as when the cwb was in business,hope you all buying out your contracts are happy,
Where did the other 14 billion go if not to contractors and consultants, the right of way and most pipe was already in place ,as was a contract.

[AlbertaFarmer5]

Dont give a shit about the cwb, I hear just as much bitching and moaning about marketing as when the cwb was in business,hope you all buying out your contracts are happy,
Where did the other 14 billion go if not to contractors and consultants, the right of way and most pipe was already in place ,as was a contract.

It went directly into the pockets of SNC Lavalin, and from there, I can only speculate, but Trudeau must have had some very expensive motivation to remove Raybould to get SNC back on the approved vendor list for the federal government.

I had suspected this right from the start, when TMX kept being postponed, and everything was being done to get SNC back on board.

Finally got confirmation today from contractors, that every expense has to go through/be approved by a company set up by SNC Lavalin, for which they get their cut. The percentage suggested is obscene, so I won't repeat it unless it can be verified.

[WiltonRanch]

Guy I know working on the project says it’s a gong show. They hired 10% extra workers so lots standing around or sitting in their trucks most of the time. You can just imagine.

[Taiga]

Mandatory percentage of the workforce native content. Means excess bodies doing nothing, just because.

Stop work orders over every possible bit of chert found.

24hr Security costs, because of all the radicals that want to vandalize equipment.

Heavy snowfall Valemount to Clearwater and along the Coquihalla, means equipment spends all their time moving snow.

The flood delays, people and equipment costs while nothing is getting done.

Government and associated consultant overreach. I don’t know anything government operated that is considered capitalist, that is a new one.

[sumdumguy]

That’s one way to shut down an oil line, run up the costs recklessly, then pull funding.

[wade]

When Bc was flooded, all the infrastructure got repaired quickly,

Rumour was because of all the equipment handy because of pipeline.

Wonder how all that got charged out? To hiways or added to pipeline cost
for accounting reasons? And if equipment already there, saved cost on moving and quick
rebuild for lost revenue. (Don't know why they worry about lost revenue and not about
creating it)

[shtferbrains]

Basic money laundering.
Spend all you can and skim is bigger.
Has SNC ever been involved in anything that the budget didnt blow up?

They did the carbon capture for sask. Way over budget and way under preformance.
But no complaints.
And alway more work waiting for them.
They have the formula for success!