Western Canada

Alberta Premier Kenny Just Made A Costly $7.5 Billion Mistake

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The Government of Alberta has finalized an agreement with Calgary-based TC Energy Corporation to provide financial support to accelerate construction of the KXL pipeline starting April 1. This investment will include $1.5 billion in equity investment in 2020 followed by a $6 billion loan guarantee in 2021. The project is expected to be completed and in service in 2023.

According to the press release, it only took the Alberta government only six months of “rigorous vetting” to get a deal done that would minimize risk to taxpayers.

To construct a multi-billion dollar pipeline is a complicated process with many moving parts and oversight. The fact the Kenny government greenlit this project so hastily, should set off alarm bells for all Albertans.

What were the results of environmental findings and impact study and what role did the Indigenous People play in the process? These are very important questions that deserve real answers.

Jason Kenny was elected with a promise to drill baby drill and restore Alberta’s economy to the days of prosperity. Unfortunately for many Albertans, they have yet to realize Kenny is just another bellicose politician who says anything to get elected without of prayer of delivering.

The Kenny government plans to “backstop” the project and increase provinces debt that is already at a record-high of $71 Billion and climbing.

After construction is complete, we will be able to sell our shares at profit. In addition, the project will have a net return of over $30 billion to the Alberta taxpayer through royalties and higher prices for Alberta oil in the next 20 years. Jason Kenney, Premier

Kenny is writing cheques his ass can’t cash! He can not guarantee Albertans will gain a $30 Billion return on investments over the next two decades. Nor has he explained what is his government’s contingency plan to absorb a loss should the project stall or suffer a worldwide crisis such as the Coronavirus.

One thing the Kenny government has promised is to immediately start construction in Alberta, at the Canada-US border, in Montana, South Dakota and Nebraska despite the global Coronavirus pandemic.

We cannot wait for the end of the pandemic and the global recession to act. There are steps we must make now to build our future focussed on jobs, the economy, and pipelines. Today we are moving forward with a project that is essential to our future prosperity. Jason Kenney, Premier

The fact the premier is willing to put the lives and safety of so many Albertans at risk to start a project in the midst of a global pandemic, speaks volumes of about his priorities and lack of leadership.

On one hand, he is giving daily press conferences urging people to stay home and prevent the spread of the Coronavirus. Then, on the other hand, he wants to put thousands of people to work in the sake of job creation while exposing them to the deadly virus.

The lure of job creation has affected Jason’s judgement and sense of reality. Albertans and the rest of Canada want to see his province flourish, but if they are sick and can not work, kind of defeats the purpose.

Kenny is under tremendous pressure to produce results and can no longer blame the Notley government for his mishandling of the economy. While other provinces and world leaders are shifting away from fossil fuels and exploring cleaner energy sources, Kenny has dug his heels in the oilsand and doubled down on oil production as the provinces only silver lining.

His closed minding ideology will ultimately sink Alberta into a further recession.

TDS News
TDS News
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