I’ve been actively pushing the government for months to assert their authority to get this pipeline built. If all goes according to plan – which so far it has not – this deal will get unemployed oil workers back to work. However, this deal has the potential of becoming mired in bureaucracy and will likely cost Canadians much more than the $4.5 billion price tag presented today.
This project is vitally important to Canada’s economy. However, the government’s promise to fund the project to the tune of $4.5 billion in taxpayer money shows how poorly they mismanaged the file from the beginning. Kinder Morgan, a private company, could have started on this pipeline much earlier, and without taxpayers being on the hook for the costs, if the government has recognized the importance of the Trans Mountain Expansion Project from the start.
The delay in getting the pipeline underway once again signals that Canada is a poor place for business investment under both the current provincial and federal governments. Other companies are no doubt watching how the Canadian government handled this file and will be cautious about future investment in our country. This debacle has caused permanent damage to Canada’s reputation as a place to do business.
Turning a multi-million private investment into a government-funded Crown corporation demonstrates this government’s poor leadership. Taxpayers should not be liable for the government’s failure to get the Trans Mountain Expansion Project completed.