RE:Wow, talk about cost escalationENB built its similar length Line 3 pipeline through multiple Provinces and States over 6 years under intense opposition. ENB's final cost was $9.3 billion despite the fact that construction was undertaken in the dead of winter in Minnesota and completed during the pandemic.
In 2017, the year before Trudeau bought TMX from KMI, ENB's cost estimate for it's Line 3 upgrade was $8.2 billion. That means all the delays, Covid, and winter construction only increased ENB's cost of building Line 3 by 13%.
Now that theTMX is estimated to cost $21.4 billion, Trudeau has cut off federal funding and the completion date has been pushed back another 9 months. That means equity partners will be brought in who will walk away with sweet heart deals.
Thanks Justin