(Bloomberg) -- Prime Minister Justin Trudeau’s government is likely to stall the sale of the Trans Mountain oil pipeline until after Canada’s national...
-- Prime Minister Justin Trudeau ’s government is likely to stall the sale of the Trans Mountain oil pipeline until after Canada ’s national election in 2025, according to officials familiar with internal discussions.Great Rotation Trade Sees Investors Dump AI Giants for Less Obvious Stocks
There’s also a regulatory battle over how much Trans Mountain charges oil companies to ship crude on the line. At about C$34 billion , the project cost several times more than initial estimates — costs that it wants to pass on to its customers over time. Major oil producers including Cenovus Energy Inc. and Suncor Energy Inc. are pushing back.
On the other hand, selling it now has the potential to bring fresh criticism of the government, if it’s unable to recoup the cost of construction. Last year, Freeland proposed a special-purpose vehicle that would hold a stake in the pipeline, and each indigenous group could decide whether to opt in. She also said the government would provide risk-free capital for groups wishing to take part.
“If it wasn’t for Trudeau’s gatekeeping and anti-development regulations, the Trans Mountain pipeline would have been built by the private sector and it would have not cost Canadians a dime,” Hallan said in an emailed statement.Samsung Galaxy Ring review: A bit basic, a bit pricey3 things to love about living in Queens, N.Y., according to residents
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