@crispius The bigger risk of Venezuelan oil is the near abandonment of TMX. Pipeline users pay below industry standard for use, threaten to stop using it if charged fairly. Leaving Canadian taxpayers to cover the at least $18 B cost. Once Venezuelas competes this taxpayer debt will increase substantially.
Yet Mr “Taxes are bad” is all for Canadians going further in debt to subsidize our foreign owned oil industry. This industry’s only loyalty is profit.
When is Poilievre going to demand that the oil industry pay back the taxpayers he’s “so concerned over”? He’s demanding we do another TMX putting Canadians further in debt and raising everyone’s taxes. Quite the statement from a “conservative” politician.
But Liberals are silent on how bad a deal TMX was, Cons rely of anger not analysis. Who will raise the issue?
https://www.statcan.gc.ca/o1/en/plus/8439-trans-mountain-pipeline-delivering
the at least $18 B cost.
That is $18 B of new subsidies, from your linked article "taxpayers could end up contributing up to CAD 18.8 billion in subsidies".
It's already over $35 B of direct, sunk cost, or over $40 B if we're counting indirect sunk subsidies:
The direct funding Canada provided for TMX totals $35.6 billion—roughly
$1.4 billion more than typically reported. The indirect financial subsidies raise government exposure to over $40 billion.
Note that $40 B figure does NOT include externalities!!! It does NOT price in greenhouse gasses, the risk of pipeline damage from landslides or atmospheric river flooding, there is no risk-costed contribution from possible tanker accidents, etc.
and even if TMX operates at capacity for 20 years under some miraculously free carbon capture technology,
More than $25 billion of the funding is ineligible for recovery via proposed
shipping tolls. Canada’s ability to recoup the remainder of its investment is limited by toll-setting issues. Taxpayers will likely take a large hit
#CDNPoli #Canada #CanPoli #ABPoli #Alberta #BC #BCPoli #TMX #pipeline #pipelines #OilAndGas #FossilFuels