Post #4145336

@mediocratese@climatejustice.social Using public money to underwrite oil pipelines could exacerbate Canada’s public debt. The Trans Mountain Pipeline Expansion’s track record of high costs and government bailouts is a red flag. 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. 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. Vigorous scrutiny of the impact of TMX—and any new publicly subsidized oil pipeline proposals—on Canada’s fiscal condition is needed and should consider China’s likely weakening oil demand. https://ieefa.org/resources/canada-should-learn-trans-mountain-expansion-pipelines-fiscal-issues