The Dec. 8 report by Yves Giroux concludes that the government’s decision in 2018 to purchase and run the pipeline remains a profitable move only if Ottawa doesn’t take further steps to combat climate change, and if the planet maintains its unquenchable thirst for oil.
Canadian oil producers would be taking a loss of US$4 to $6 per barrel if they sold to Asian refineries through TMX compared to selling to U.S. refineries, says the Canadian Centre For Policy Alternatives’ B.C. office.
The non-profit Wilderness Committee says the pipeline company’s own maps and sworn affidavits indicate that it failed to start key construction this summer. And that could push the project past its December 2022 delivery date.
Environment and Climate Change Minister Jonathan Wilkinson has talked about using the revenue from the Trans Mountain oil pipeline to pay for green energy projects. But what if that revenue never comes because there’s little demand for oil in the first place?
A report that says the Trans Mountain pipeline system has earned net income of $29 million in the 19 months since it was purchased by Ottawa relies on faulty accounting, according to a vocal critic of the project.
The news comes roughly a year after the large Swiss insurance company declared it would reject companies that operate "purpose-built" transportation infrastructure for oilsands products, including pipelines.
Coldwater Indian Band says it knew the chances of the Supreme Court hearing its case were slim "given the momentum of the project" and an earlier federal court decision, "but we felt we had to use every tool available to us.”