In March, Trans Mountain reported construction of the project “is close to 80 per cent complete,” and the company expects the pipeline to be operational in the first quarter of 2024.
This week it came to light that the federal government approved two loan guarantees backing the additional $3 billion Canada’s biggest big banks recently loaned the Crown corporation.
“They still don’t have enough money to finish it, even with this new money, so it will definitely happen again,” said Stewart in a written statement to Canada’s National Observer. Even before Politico broke the news of the new $3-billion loan guarantee, Freeland was catching some heat from Bloc Québécois MP Monique Pauzé and Green Party Leader Elizabeth May on May 29 in the House of Commons during debate.
When the federal government bought the Trans Mountain expansion project from Kinder Morgan in 2018, the estimated cost to complete the project was $7.4 billion. Today, the price tag sits at $30.9 billion. Parliamentary Budget Officer Yves Giroux told Canada’s National Observer the secret reports Finance Canada uses to claim TMX is commercially viable are based on an unrealistic 100-year lifetime for the pipeline. His previous reports have found the project is no longer a profitable investment.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$13 billion and counting: Feds put more taxpayer money on the line to complete TMXThe federal government is once again putting taxpayer dollars on the line to prop up the Trans Mountain pipeline expansion (TMX).
Read more »
Opinion: Trans Mountain pipeline justifies federal government supportWith bidders lining up to potentially buy into the pipeline, Ottawa’s decision to purchase the project in 2018 might end up being a good move
Read more »
Trans Mountain pipeline justifies federal government supportWith bidders lining up to potentially buy into the pipeline, Ottawa's decision to purchase the project in 2018 might end up being a good move.
Read more »
Bruce Willis’ Wife Emma Heming Shares Rare Video Of Him Riding Splash Mountain With DaughterEmma Heming shared a video of the happier times with her husband, Bruce Willis! On Thursday, the model posted a video from a family trip to Disneyland, in honor of Splash Mountain's final ride before it is reimagined in the 'Princess and The Frog' theme. 'You bet this family will be back for more fun and laughs when…
Read more »
Driver allegedly running red light results in crash at Trans-Canada on rampThe driver of a Ford F150 allegedly ran a red light in View Royal Monday morning, which led to a crash on the Trans-Canada Highway on ramp.
Read more »
Pickup runs red light, crashes into vehicle at Trans-Canada and Old Island HighwayWest Shore RCMP said a F-150 pick-up truck ran a red light and collided with a vehicle around 6 a.m., then veered into the median barrier under a rail bridge at Old Island Hwy
Read more »