Kinder Morgan totally played the Trudeau government, and Canadian taxpayers are paying the price.
Right after a federal court ruled against the approval of the Trans Mountain pipeline expansion, Kinder Morgan approved the sale of the 65-year-old pipeline built in 1953 to the Trudeau government.
And of course they did.
They just offloaded a pipeline that may never be expanded, not only saving themselves the costs of going through the endless regulatory approval process again and saving themselves the cost of construction, but also making a $4 billion profit (They originally spent about $500 million on it) at the expense of Canadian taxpayers.
They did what a private company does: Maximize profits.
And the Trudeau government did what the Trudeau government does: Screw over Canadian taxpayers.
There can now be zero doubt that the Trudeau government got totally played by Kinder Morgan.
The failure of the Trudeau government here is totally pathetic, and their continued betrayal of Canada’s energy industry gets worse and worse.
Not only did they create the conditions for the nationalization of the Trans Mountain pipeline by imposing a horribly convoluted regulatory process, but they couldn’t even meet the demands of their own process.
Now, Canadian taxpayers are stuck footing the bill for an old pipeline that can’t even be expanded.
What a pathetic disgrace this government has become.
Photo – YouTube