Former CEO Of TransCanada Says Kinder Morgan Pipeline Expansion Will Only Happen With $10 Billion Taxpayer-Backed Indemnity

It seems Justin Trudeau’s ‘leadership’ has brought Canada to the point where we will either have a massively expensive ‘nationalized’ pipeline expansion, or no pipeline expansion at all.

The former CEO of oil company TransCanada says the Kinder Morgan Trans Mountain expansion will only happen if it gets a large, taxpayer-backed indemnity.

As reported by BNN Bloomberg, Hal Kvisle said, “The only way [the Trans Mountain expansion project] could go ahead is if the government was to indemnify Kinder Morgan against a failed project halfway through… That’s a $10 billion dollar indemnity – I don’t know that’s going to happen.”

Kvisle said he liked Trudeau’s rhetoric, but pointed out the lack of action in the long lead up to this crisis:

“I admire the Prime Minister for saying it’s going to get done but I also look at the realities Kinder Morgan has faced and the billions of dollars adding up. I think the government could have taken steps earlier on to make it much more acceptable to the people of Burnaby and the Lower Mainland and they may yet have to do that. But I think they should have done that before the clock is ticking and time is running out.”

Trudeau government failure: If the pipeline has already been approved, why would taxpayer money be needed?

If Kvisle is right, then it only magnifies the failure of the Trudeau government.

After all, when pipelines are approved, they are supposed to start getting built, not delayed to death.

Also, when pipelines are approved, it’s not expected that taxpayers will have to potentially shell out billions.

So, either way it seems that Trudeau’s failure will leave Canada worse off than we should be. Either we will potentially pay billions for a project that would have been fully covered by the private sector under a competent government, or the project will be cancelled entirely, which would be a disaster for our country.

That’s the price of bad leadership: What should have been a simple project is now a national crisis.

Spencer Fernando

Photo – YouTube

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