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Terence Corcoran: How the greens killed Canada's pipeline economy

Governments are having to buy pipelines because their own policies and their activist allies have killed the return to investing in them

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The big question looming over the Ottawa-Alberta pipeline agreement announced last week is whether any real private-sector money will be invested in the project. When Premier Danielle Smith was asked the obvious question about the new $35- to $45-billion Trans Mountain project, the best she could do was waffle. In response to Power & Politics interviewer Catherine Cullen’s suggestion that it might be an entirely public project, Smith replied: “Well, I hope not.”

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Hope is one thing, but the recent history of pipeline development in Canada suggests it will not take the Trans Mountain project very far. Trans Mountain is now owned by Ottawa, which was forced to buy it for $4.5 billion and cover more than $34 billion in construction costs.

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