How the Canadian taxpayer ended up on the hook for $34-billion to build a pipeline for the oil industry

The Trans Mountain Pipeline expansion finally opened in May of this year, tripling the capacity to ship oil from Alberta to Vancouver. But with the completion comes a large bill for Canadian taxpayers to cover the $34.2-billion costs of the expansion, and the $4.4-billion government purchase of the pipeline from Kinder Morgan.

8-billion—but regardless of the final estimate, hard-pressed Canadian taxpayers should rightly ask why they should provide any subsidy to the highly profitable oil industry. Some may suggest that the subsidy is justified because it will generate higher oil prices and tax revenue.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Posthaste: Canadian investors prefer tech, U.S. stocks, survey findsMagnificent Seven and artificial intelligence are especially popular
Source: YahooFinanceCA - 🏆 47. / 63 Read more »