Alberta Loses Again

[Rodent + 1,424]

Canada’s Appellate Court today ruled against Canada’s approval of Kinder Morgan’s Trans Mountain pipeline, in a move seen as a huge setback for the country that is home to the world’s third largest petroleum reserves.

Get your head out of your butt, Canada!

[Jan van Eck + 7,558]

4 hours ago, Rodent said:

Canada’s Appellate Court today ruled against Canada’s approval of Kinder Morgan’s Trans Mountain pipeline, in a move seen as a huge setback for the country that is home to the world’s third largest petroleum reserves.

Get your head out of your butt, Canada!

Although Kinder Morgan sold their project to the Canadian taxpayers  (for several billions), they remain on deck as the construction entity.  As of this afternoon, Kinder Morgan has bailed and is shutting down their construction work.  The Trudeau Government is on their own.  Expensive little project, that pipeline. 

Meanwhile, the Trudeau Government has done very little to bail out en entire city, that being Port Churchill in Manitoba, up on Hudson Bay.  The Hudson Bay Rail Road is owned by Omnitrax (through their Canadian subsidiary HBRR Co., done to insulate Omnitrax from the Canadian governments) and does not have the cash to repair the massive washouts caused by spring flooding in 2017.  As there is no road (the Port is located some 500 miles down the rail line across the inhospitable and swampy tundra) the entire city has to be supplied by Air and sealift during only two months from Montreal.  The place has the feel of Berlin under siege. The cost to repair is about $43 million, which the Trudeau Govt says it does not have  (never mind the $4.5 Billion paid for the pipeline) and so the residents are caught in this standoff between Omnitrax in Denver and Trudeau in Ottawa, with the lawsuits flying. And nobody is fixing the rail; some 30-plus washouts and 7 bridges out between Gilliam and the Port, over at least 130 miles of RR.  Oh, well. 

Port Churchill, if it ever gets restored, would be the "third port" for grain, as well as oil-by-rail to European markets. 

[Jo Mack + 43]

Trudeau, the boy child of Canada has just learned a major lesson.  As a socialist himself, never trust other socialists or the opposing governmental authority- the environmentalists.

[Ian Austin + 131]

It’s both terribly frustrating and embarrassing. As a Canadian, l keep wondering when governments are going to stop “cutting off our noses to spite our face”. I don’t believe the pipeline was going to solve pricing differential issues, regardless of what the usual gaggle of Financial idiots said, but it should have been allowed to be built on its own merits. 

Canada is reaching a dangerous level. Most advanced economies are advanced because they are educated, and put it to good practical use. In this country, the educated are unemployed - this decision only worsens the situation, as I’d imagine a continued decline in investment over the next 2-3 years. 

What the environmentalists don’t understand that this signals to ALL BUSINESSES that we are too stupid to get out of our own way, so unless Wind Turbines can be paid for with smiles, were screwed - that’s the level of confidence capital now has in this country.

Edited September 2, 2018 by Ian Austin