The cost to Canadian taxpayers has just gone up even more.
As many expected, the newly nationalized Trans Mountain pipeline is going to be way over budget.
Kinder Morgan says the pipeline expansion will cost an extra $1.9 billion.
It will also take another year to finish.
That’s what Kinder Morgan revealed in a filing with the U.S. Security & Exchange Commission.
The pipeline was supposed to cost $7.4 billion to build, but Kinder Morgan now says it will cost $9.3 billion.
Keep in mind, that’s in addition to the cost to Canadian taxpayers of just buying the existing pipeline, which was $4.5 billion.
Kinder Morgan now projects the pipeline will be done in December 2021, while the previous projection was for it to be done in December 2020.
So, the pipeline is taking a year longer, and the cost to taxpayers has surged.
This is the direct consequence of the Trudeau government’s failure to swiftly confront the BC NDP, and their refusal to deal with the foreign-funded radical-left extremist groups that are trying to destroy the Canadian energy industry.
Considering their damaging impact on the country, those groups are nothing but foreign-funded enemies of Canada, and Trudeau’s attempt to win them over and have it both ways on pipelines has been a total and pathetic failure.
Now, instead of having a pipeline that brought investment into Canada and was paid for by a private sector company, the Canadian taxpayers are on the hook for it all.
Photo – YouTube