Quote:
Originally Posted by Truenorth00
Given the cost escalation and all the difficulties they've had, it's really hard to see how all of that is regulatory burden. This sounds like Friday night beer goggle level analysis.
I think there's a lower likelihood that industry would have finished this without a government bailout, even under a continued Harper government. Entire possible they would have started, seen the cost escalation and then just written it off and walked away.
It's all too convenient for oilbros to blame regulation for tens of billions in cost overruns than to admit their own underestimation or incompetence. Not to say that regulations didn't have an impact. But tens of billions? Can't buy that.
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The cost increase is almost all regulatory burden. People double an existing pipeline all over the world at a fraction of the cost. The question is how much of this new and existing burden is justified and how much exists also under a Harper government as you say. I think you are right when the private sector discovers a hummingbird and is told they need to shut down for 4 months they probably walk away from the whole thing and they might sue for expropriation of their foreign investment. Trudeau could have run a tighter ship but overall I think they can't be faulted for their handling of TMX. Other than politically it seems like a classic Liberal fudge of compromise that instead made both sides angry.