OTTAWA — The Parliamentary Budget Officer says the federal government now stands to lose money from its investment in the Trans Mountain pipeline.
The latest analysis shows the net present value of the pipeline is negative $600 million, leaving it worth about $1.2 billion less than the PBO’s estimate in December 2020.
Estimated construction costs of the pipeline have skyrocketed from $12.6 billion to $21.4 billion since the last report and the completion date has been pushed back a year to the end of 2023.
In 2019 a PBO report had pegged the cost of the pipeline expansion at $3.6 billion and $4.6 billion.
The PBO says that if the government were to stop construction this month and cancel the project indefinitely then the government would need to write off over $14 billion in assets.
The federal government bought the pipeline, and the unfinished work to increase its capacity by twinning it, in August 2018 for $4.4 billion.
This report by The Canadian Press was first published June 22, 2022.
The Canadian Press
- 0091 WBPC_2025_30_SEC_PROMO_RANJITH0091 WBPC_2025_30_SEC_PROMO_RANJITH
- 0090 WBPC_2025_30_SECOND_PROMO_DAN0090 WBPC_2025_30_SECOND_PROMO_DAN
- 0089 WBPC_2025_30_SEC_PROMO_ERIK0089 WBPC_2025_30_SEC_PROMO_ERIK
- 0046 City of Estevan This is Estevan Teaser0046 City of Estevan This is Estevan Teaser
- 0088 WBPC_2025_30SEC_PROMO0088 WBPC_2025_30SEC_PROMO
- 0087 Lori Carr Coal Expansion0087 Lori Carr Coal Expansion
- 0086 Sask Gov Oil and Gas Incentive Programs0086 Sask Gov Oil and Gas Incentive Programs
- 0085 Turnbull snow removal call office0085 Turnbull snow removal call office
- 0084 EMP Metals Pipeline Online0084 EMP Metals Pipeline Online
- 0077 Caprice Resources Stand Up For Free Speech0077 Caprice Resources Stand Up For Free Speech
- 0076 Latus only0076 Latus only
- 0061 SIMSA 2024 For Sask Buy Sask0061 SIMSA 2024 For Sask Buy Sask
- 0055 Smart Power Be Smart with your Power office0055 Smart Power Be Smart with your Power office
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0006 JK Junior
- 0002 gilliss casing services0002 gilliss casing services
- 9002 Pipeline Online 30 sec EBEX9002 Pipeline Online 30 sec EBEX
- 9001