The latest report from the Parliamentary Budget Officer confirms the Trans Mountain pipeline expansion is leaking a lot of cash. (Photo - Trans Mountain pipeline/Twitter)
The latest report from the Parliamentary Budget Officer confirms the Trans Mountain pipeline expansion is leaking a lot of cash.
A new analysis shows the pipeline running between the Edmonton-area and port in Burnaby is worth about 1.2 billion dollars less than its estimated value 18 months ago.
Delayed completion, not expected until late next year, plus the ballooning cost of the project which is now set at more than 21-billion dollars, all factored into the troubling estimate.
The pipeline was bought by the federal government in 2018 when environmental opposition encouraged Kinder Morgan to back out, and the planned expansion will nearly triple the current daily capacity to about 900-thousand barrels of bitumen.
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