National Post (National Edition)
Pipeline purchase
Re: The federal government’s Trans Mountain pipeline purchase
Canada is a resource-based country whose economy and relatively high standard of living are dependent on the development and distribution of those resources, which in turn requires acquisition of risk capital from a pool of capital for which there is worldwide competition.
One of the competitive advantages Canada has over Third World countries is that it is located in what is regarded as a safe political jurisdiction with a well-established system of laws.
The decision of the federal government to nationalize Kinder Morgan’s Trans Mountain pipeline rather than enforce federal laws and use private risk capital hurts both that reputation and the Canadian taxpayers.
We are descending into Third World status. Bob Dodds, Oakville, Ont. The Trudeau Liberals have found the estimated additional $15 billion necessary to relieve Kinder Morgan’s risk-averse shareholders and to complete the Trans Mountain pipeline under federal auspices.
But we were also told that the Canada Infrastructure Bank was needed to attract private capital at market rates because the federal government only had so much money which if otherwise spent would reduce funds available for social programs.
So either government programs will suffer as a result of the sizable Trans Mountain purchase, or the justification given for the rentextracting Infrastructure Bank is bogus. In any event, the Liberals will ensure that the investor class gets its rewards, and the public gets the bill. Larry Kazdan, Vancouver Natural Resources Minister Jim Carr blames the previous Conservative government for Canada’s pipeline conflicts. His government has had two and a half years to put its own stamp on the economy and on the concerns that Canadians have. How much longer do they need before Stephen Harper can no longer be blamed for this government’s inactivity?
In many areas of government policy such as pipelines and Indigenous affairs, this government has simply undone decisions made by the previous government without introducing any improvements. If the only thing this government can accomplish is making speeches, then I suggest that it get out of the way and let others make the important decisions. Rick Hird, Whitby Ont.