Our View: How much is the bill for Trans Mountain?

Costs are going up for the massive oil pipeline project Ottawa plans to buy.

Kinder Morgan has just upped the bill that will likely fall to Canadian taxpayers.

With the federal government agreeing to take over the Trans Mountain pipeline from Kinder Morgan, Canadians were going to pay for the cost of not only the purchase, but the construction as well.

The purchase price was $4.5 billion, the construction cost has now ballooned from $7.4 billion to $9.3 billion.

The new information filed by Kinder Morgan also pushes back the date of completion by a full year, to 2021.

The sale isn’t finalized – yet – but Prime Minister Justin Trudeau’s government hasn’t given itself much room to back out.

Finance Minister Bill Morneau said the project was “in the national interest.” It’s meant to keep Canada’s natural resource economy ticking along, particularly the economy of Alberta, hit by the decline in the price of oil some years back.

The first stages of the controversy over the pipeline have been primarily about environmental issues and Indigenous land rights. Though some First Nations have agreed to allow the pipeline to go through, others have been protesting, marching, and rallying.

But the underlying question, once Canada took it over, is will the deal actually be in the national interest?

At what point does the price rise too high? How long will it take to pay back an investment of this size? Given the volatile price of oil and the uncertain future of fossil fuels as a power source, the longer the payback period, the worse this deal looks for Canadians.

– M.C.

Just Posted

ELECTION: Langley Township council candidate Petrina Arnason

A Voter’s Guide to key election questions.

Vaudeville keeps senior actors young, active

The Vaudevillians ready to storm the stage with ‘As Time Goes By’

Free ‘hoops’ fun brings Aldergrove youths together

Aldergrove Basketball Club revives the sport at Aldergrove Secondary

Aldergrove grad students prepare ‘spooktacular’ event

‘Haunted House’ event Oct. 27-28 will benefit Aldergrove Secondary ‘dry grad’

ELECTION: Langley Township mayoralty candidate Alex Joehl

A Voter’s Guide to key election questions.

B.C. NDP retreats again on empty-home tax for urban areas

Rate reduced for all Canadians, dissident mayors to get annual meeting

Earthquake early-warning sensors installed off coast of B.C.

The first-of-its kind warning sensors are developed by Ocean Networks Canada

B.C. woman looks to reduce stigma surrounding weed-smoking moms

Shannon Chiarenza, a Vancouver mom of two, started weedmama.ca to act as a guide for newcomers to legal cannabis, specifically mothers

B.C. teen gives away tickets to Ellen Degeneres show, plans O Canada welcome

The Grade 9 student wanted to give away tickets in the spirit of inclusivity

Canada’s top general takes aim at new reports of military sexual assault

Gen. Jonathan Vance is unhappy some troops continue to ignore his order to cease all sexual misconduct

Online fundraiser to cover funeral costs of motorcyclist killed in collision

Larry Nizio, 37, died after crash with pickup truck Oct. 12 in Abbotsford

Ignoring climate change poses potential catastrophe for B.C.

Fisheries scientist says ‘extraordinary challenges’ in water management lie ahead

B.C. grow ops left in legal weeds post-legalization

“I think people are going to get a big surprise that it’s not going to change things much.”

Most Read