Spending on the Sturgeon Refinery project, a partnership between the Alberta government, Canadian Natural Resources and North West Upgrading, have gone completely off the rails.
About $3 billion has been tacked on to the original $6.5B price tag, along with another estimated $26 million in toll fees .
All of this will rest on the shoulders of taxpayers.
Drew Barnes, the United Conservative MLA for Cypress-Medicine Hat has been working on this file so I spoke with him about the refinery and what Albertans need to know about it.
Watch as Barnes offers his solution to this mess!
The Notley NDP try to sell this project as a step toward diversifying Alberta’s economy and sell themselves as pro-oil but the fact is, they could have stopped this boondoggle. Instead they just placed all of the risk on Albertans.
The profits are going to be razor thin, with 30 year estimates suggesting they may be between $200 and $700 million.