NATIONALIZED: Trudeau Government Fails To Find Private-Sector Buyer For Trans Mountain Expansion

It will soon become state-owned property.

The Trudeau government has failed to find a private-sector buyer for the Trans Mountain Pipeline Expansion, despite having repeatedly said that “many” companies were interested in it.

According to the CP, “Pipeline owner Kinder Morgan had been working with the government to identify another buyer before July 22. But with that date set to pass without a deal, it was expected the pipeline company will now take Ottawa’s $4.5-billion offer to purchase the project to its shareholders.”

As a result, the pipeline will become state-owned property.

The purchase alone will cost Canadian taxpayers $4.5 billion, and that’s just to buy the pipeline. Further construction will cost even more.

The CP notes that one estimate has the construction cost at $7.4 billion.

In a statement to the CP, the government said “We have no interest in being a long-term owner of a pipeline, but we will be the temporary caretaker. We won’t rush that.”

The nationalization of the Trans Mountain Pipeline will send a concerning message to Canadian taxpayers and investors.

If Canada was seen as a good place for investment, a private-sector company would have picked up the tab for the construction of the pipeline, and no nationalization would have happened – saving taxpayers many billions of dollars.

Now, we’re heading down the Venezuela route, where government incompetence, over-regulation, a failed ideology, and pandering to extremist anti-development groups pushes investment away, adds to budget deficits, explodes the debt, and weakens our economy.

This is also another nail in the coffin for Trudeau’s ‘climate’ plan. He repeatedly pushed the idea that the carbon tax would create the so-called ‘social license’ for pipeline projects, even though pipelines need only legal approval – not ‘social license.’

Instead, Canadians got stuck with the carbon tax, and projects are stalled while investment flees. And with Ontario and Saskatchewan leading the charge against the carbon tax, this nationalization only shows how pathetically Justin Trudeau has failed.

His failure is costing Canadians billions of dollars on this one pipeline alone, and countless billions in all the investment and jobs that will be scared away.

Spencer Fernando

Photo – YouTube

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David MacKAY
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David MacKAY

Why is it that Canadian don’t get it that Nationalizing the Canadian Oil transportation systems was Trudeau’s goal and he will pay for it with Carbon Taxes and Tax Increases.
This is a Canadian DUH moment if ever there was one.
The only pones who benefit are Warren Buffet who owns all the train cars for Oil transport and the (Justin) Trudeau foundation that gets the kickbacks/donations from thankful American corporations.

Ralph Knapp
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Ralph Knapp

The Boy Blunder strikes again and many more billions will be added to the debt. Where’s an impeachment clause when you need it most?

NancyW
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NancyW

No one with any sense would buy that pipeline or any other in Canada, not with our country trying to collapse itself, and protesters still sitting there waiting, probably paid for with our tax dollars now that I see you can hire professional protesters on line, really (and that was given away when the last G7 met in Quebec and there were no protesters there, and there always has been) .
People running a business have to have common sense, not government agendas to stop Canada from advancing.

Bruce
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Bruce

This was predictable. Its what left wing dictators do. I wouldn’t put a nickel into this country if I was a foreign investor until the Turdo government was defeated …massively. How much more damage will beavis and butthead do?

JAMES
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JAMES

Is anyone surprised?
Well maybe Morneau, Butts and Trudeau.
A very quick calculation brings the total cost to taxpayers is 16B. And that is only the low hanging fruit which are obvious costs.
Bloody communists.

Ian
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Ian

Trudeau bought the pipeline that no one wants with our money
so that he can guarantee that the second pipeline never gets built.
Don’t want to upset the environmentalists you know.
I wonder how long it will take him to come up with an excuse to
shut down the one he just bought. Gotta save the planet you know.
Trudeau-think or conspiracy theory, we’ll have to wait and see.

Kenster
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Kenster

Just a thought, but who the helm wants to buy a pipeline that’s never going to be allowed to be built, unless theirs a change in government and soon!

Ivan Hawkes
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Ivan Hawkes

A result to be expected. Nothing the Liberals have said or done holds validity. The inaction by the federal so called government when protestors wedged their stop action into the pipeline project brought this result. Just another time that Justin’s decisions (or lack of decisions) blow billions.

Del
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Del

I am all for exporting our resources, but what is conveniently never mentioned by media or Politicians is that pipeline companies charge customers for transporting their products. No pipeline company is a charity. They wouldn’t build it if it wasn’t profitable. Air Canada and West Jet don’t carry passengers for free, Safeway doesn’t sell groceries at a loss. Business is business. It will take a while to recover investments, just like any other significant project.

rodrick
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rodrick

another pipeline lie

Pg
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Pg

Sun Tzu wrote “Engage people with what they expect; it is what they are able to discern and confirms their projections. It settles them into predictable patterns of response, occupying their minds while you wait for the extraordinary moment — that which they cannot anticipate.”
Follow the money.

shawn harris
Guest

Trudeau is now experiencing the effects of an old and wise saying, this situation was built for a dummy and you know what, it looks good on him. Trudeau thought that he was being clever by playing both sides for fools; on the business side he played up his deceitful and disingenuous support for Kinder Morgan’s Trans Mountain Pipeline, but secretly wanted it to die , so that he could please both the foreign funded anti oil protesters and claim to be supporting our charter of rights and freedoms, that were and still are being selectively enforced . All the… Read more »

tTommy Hawk
Guest

This situation was predictable the moment ‘he’ got involved and pretended to know what he was talking about.

Actually, on second thought, he knew full well from the git-go that what we have now was indeed his plan all along.

Aside from satisfying his own ego and ensuring press coverage, it is no more nor less that the typical Liberal interference in matters about which they have no understanding whatever.

2019 cannot come fast enough — that is assuming we actually have a legitimate election, which, with his intentional allowing anyone or anything to vote, citizen or not, is highly unlikely.