The Canadian oilpatch has a brand-new pipeline, something it’s pleaded for year after year, and it offers a relatively quick route to the West Coast and overseas markets.
But a year in, the newly expanded Trans Mountain Pipeline still isn’t running at full capacity — though the CEO of the Crown corporation says he doesn’t think it’s a problem.
The pipeline has downgraded its forecasts for the amount of oil expected to flow through the system over the next three years, according to Reuters.
That suggests some companies are unwilling to pay higher tolls, charged due to the project’s costs ballooning higher than expected. The federal government initially purchased the Trans Mountain pipeline for $4.5 billion, but development and construction increased to $34 billion.
Ho Nice! So Canadian bought a pipeline that the industry knew will not work(and bring back money) at full capacity. Cool Cool Cool Cool Cool Cool Cool
Edit : that the industry is now trying to delegitimize, so that the gouv will sell the pipeline to them