The feds bought a pipeline for $5B. How did the cost balloon to over $30B?
“Why should the Canadian taxpayer be bearing all of these extra costs when the oil industry is making record profits, and is going to receive all the benefits from this project?”
By News on the Net -- Global News—— Bio and Archives--August 9, 2023
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Construction on the Trans Mountain pipeline in 2022 cost almost $9 billion, almost double the estimate of $5.3 billion, a Global News analysis has discovered.
The expenditure for the Crown corporation expansion, found through a detailed reading of filings that included corporate plan summaries and projections, is one of several line items that reveal how a project purchased by Ottawa exceeded its original cost estimate by a factor of six, from $5.4 billion to $30.9 billion. ---More...
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