Alberta premier Rachel Notley is making herself a railway mogul to hide her failures on pipelines and this bad idea is going to cost four times more than the $1billion price previously estimated.
“The Alberta government has signed contracts with Canadian National and Canadian Pacific to lease 4,400 rail cars to take oilsands crude to American and international markets. Provincial officials say the program will cost $3.7 billion over three years and result in $5.9 billion in revenues over the same period. The anticipated net revenue is $2.2 billion over the same period.”
Notley says this is a “zero risk” investment and a good value for Albertans, and not the shameless, desperate waste of tax dollars Alberta doesn’t have, in an effort to gloss over the NDP’s complete and total failure on the pipeline file.
She’s offloading the risk and costs the private sector used to carry, onto Alberta taxpayers instead.
Today, I’ll show you how much Notley’s failures have cost us in lost pipeline capacity. I’ll put her measly, but expensive, 120,000 barrels of oil per day in her 2020 train pipeline into some real perspective.
For example, Keystone XL, the pipeline the NDP desperately need but never wanted, requires the intervention of a President that the NDP can't help but insult. Keystone XL would move nearly 830,000 barrels of Alberta oil per day and it wouldn't cost us a red cent except maybe the need to tone down the anti-Trump rhetoric and a trip or two to Washington.
It Notley really wanted to move some oil, she would be in Washington grovelling to President Trump for some help.
But for her, it's easier to spend $4 billion we don't have, rather than swallow her pride and do the right thing for Albertans.