Trans Mountain Deal Was Structured to Bleed Billions, Finds Economist | The Tyee
Put all the costs together and the purchase of the Trans Mountain pipeline has probably cost taxpayers $8 billion in subsidies to oil and gas companies through unjustifiably low pipeline tolls.
And Canadians are still on the hook for escalating construction costs on a project that hasn’t been built.
None of this should surprise Canadians. Federal and provincial subsidies subsidies — tax breaks, royalty reductions and infrastructure credits — to the oil and gas industry total $3.3 billion a year.
Allan pointed out these disagreeable facts on Trans Mountain pipeline to Ottawa months ago and asked for a response from Morneau’s office.
“None has been forthcoming,” says Allan.
The promise of profit, from the Kinder Morgan pipeline the federal government bought, is that every dollar they make off the pipeline would invested in green energy and climate projects. I took a snapshot picture from their election platform. Here it is.
Now here’s the thing. Morneau is a business man. Read the article from the Tyee. It wasn’t/isn’t ever going to earn any money.