RE:RE:RE:RE:RE:Trans Mountain Thankfully, the current regulatory process was not around in 1880's.
If a railroad was needed to be built today from coast to coast to unite this land as a country, Western Canada would not exist. Canada's border with the US would probably be on the east side of the rockies somewhere.
TMX is another perfect example that we can no longer build anything in Canada anymore.
It is nearly impossible to get a development through our new system. It must take everything and everyone into consideration, requiring unanimous consent. Extreme levels of regulation, compliance, safety, environmental concerns, stakeholders, land issues, indigenous rights, labour, climate concerns, and even local and foreign activists and extremists.
We have priced ourselves out of the market compared to the rest of the world. The near 4000 km Russia China power of Siberia gas pipeline was conceived and built within 6 years. We can barely repair and upgrade an existing one because of ants.
Canada is blessed with an abundance of valuable resources the world needs, while it's anti oil government allows a regulatory framework to exist that kills nearly all attempts to bring them to markets.
One day when the world desperately needs more oil in the future, companies with their capital invested into infrastructure that is already operational, holding decades of reserves will be extremely valuable.
Until then, we trade sideways for a while. Profit from the chop range.
Experienced wrote: Yes in a way the project is a mess with the cost overrruns etc.
I guess the point I was trying to make is that if the tolls to offset the huge cost overruns still allow Cdn oil producers to ship their oil and make money then the pipeline is still valuable despite all the things that have happened. If not then the whole thing is an unmitigated disaster.