Gold Member BOHICA Posted October 16, 2023 Gold Member Share Posted October 16, 2023 Canada gov will never recover any of its humongous oil subsidy from just this one project. Canadian taxpayers on the hook 100% All these hurdles suggest that the federal government of Canada may never fully recover the more than a dozen billion U.S. dollars of costs to have the project up and running. https://oilprice.com/Energy/Crude-Oil/Canadas-26-Billion-Investment-In-Trans-Mountain-Pipeline-May-Not-Pay-Off.html Quote Link to comment Share on other sites More sharing options...
Snake Posted October 16, 2023 Share Posted October 16, 2023 The state Public Service Commission (PSC) on Thursday rejected a request by developers of wind and solar for a financial boost. The decision by the commission, which regulates utilities and oversees rates, raises questions over whether the key clean energy projects — planned around the state and in the Atlantic Ocean — will move forward as planned. Renewable developers had asked to more than double the billions already promised in subsidies to make their projects viable in the wake of increased costs, mostly from inflation. But the commission said that paying the companies more would ultimately hit ratepayers with higher electric bills and that the original deal they struck should be honored. “By rejecting this relief, we signal to every vendor that our contracts, our commitments, are worth the paper they are written on,” said PSC Chair Rory Christian. “We signal that ratepayer funds are not an unlimited piggybank just at anyone’s disposal.” Now it’s up to the developers to decide whether they’ll move forward with the projects — or pull out of their agreements with the state. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted October 17, 2023 Share Posted October 17, 2023 3 hours ago, BOHICA said: Canada gov will never recover any of its humongous oil subsidy from just this one project. Canadian taxpayers on the hook 100% All these hurdles suggest that the federal government of Canada may never fully recover the more than a dozen billion U.S. dollars of costs to have the project up and running. https://oilprice.com/Energy/Crude-Oil/Canadas-26-Billion-Investment-In-Trans-Mountain-Pipeline-May-Not-Pay-Off.html What’s worse is it benefits foreign oil companies. Not even Canadian ones. I’d rather spend the money on green energy and pull the rug out from Putin and those Opeckers. We have technology and manufacturing ability here but the right love oil. So does Trudeau. Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted October 17, 2023 Gold Member Share Posted October 17, 2023 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted October 17, 2023 Share Posted October 17, 2023 3 minutes ago, EvilBird said: I too had to stop reading at 'Trans Mountain' Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 17, 2023 Platinum Contributing Member Share Posted October 17, 2023 (edited) 15 hours ago, BOHICA said: Canada gov will never recover any of its humongous oil subsidy from just this one project. Canadian taxpayers on the hook 100% All these hurdles suggest that the federal government of Canada may never fully recover the more than a dozen billion U.S. dollars of costs to have the project up and running. https://oilprice.com/Energy/Crude-Oil/Canadas-26-Billion-Investment-In-Trans-Mountain-Pipeline-May-Not-Pay-Off.html You need reading comprehension classes. May never. Nowhere in the article does it say for sure. Increase of 600,000 BPD I would think would pay it off in short order. Considering pipelines charge around $5 barrel that's over a billion a year in revenue. Edited October 17, 2023 by Highmark Quote Link to comment Share on other sites More sharing options...
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