The federal government announced a plan to spend $4.5 billion to buy the Trans Mountain pipeline project, and potentially take on billions of dollars more in construction expansion costs. It’s a controversial decision facing significant criticism from the opposition parties.
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Dennis McConaghy, Visiting Fellow with the Ivey Energy Policy and Management Centre and a former Trans Canada pipeline executive, estimates construction could cost another $6 billion to $7 billion. McConaghy is featured in the Toronto Star, sharing his thoughts on the decision, suggesting that regulatory approvals in Canada are often not enough to move big projects like the Trans Mountain pipeline forward.
