Yesterday the federal govt quietly posted a new $20 billion loan for #TMX -- bringing the total amount of taxpayer money loaned out for this project to $50 billion Maybe we shouldn't listen to all the recent calls for more fossil fuel pipelines.... environmentaldefence.ca/2025/01/31/f... - ThreadSky

jflevin.bsky.social • 27 days ago

Yesterday the federal govt quietly posted a new $20 billion loan for #TMX -- bringing the total amount of taxpayer money loaned out for this project to $50 billion

Maybe we shouldn't listen to all the recent calls for more fossil fuel pipelines....

https://environmentaldefence.ca/2025/01/31/federal-government-approves-new-massive-20-billion-loan-for-trans-mountain-pipeline/

Comments

quillt.bsky.social•25 days ago

Funny how liberals are never into socialism unless it’s to subsidize a hugely profitable industry destroying the planet. Curious that 🤣

timtakaro.bsky.social•25 days ago

Perhaps we should sieze the moment. US wants trade war. Our biggest hammer is energy. We know the planet needs less fossil E, and we will meet this trade war challenge by thinking to the future generations, cut our fossil E production, and foil Donald Trump's war on Canada while saving the planet.

timtakaro.bsky.social•10 days ago

Nice op-ed by Kevin Yin on Th. using Trump's trade-war shock, to get real in to our energy policies.
"Canadians have shown grit in denying Mr. Trump a tepid response – perhaps some day in the future we can show that same grit in preserving the planet." https://www.theglobeandmail.com/business/commentary/article-if-were-willing-to-cut-us-goods-why-arent-we-willing-to-cut-carbon/

timtakaro.bsky.social•24 days ago

https://www.theenergymix.com/trumps-tariff-threats-could-prompt-canada-to-break-free-from-oil/

thomaschanzy.bsky.social•26 days ago

Please correct your statement. Overall funding to #TMX remains unchanged as this loan is debt refinancing. Now that the expansion is complete, replacing third-party financing reduces interest costs, helping pay down construction costs faster and increase asset value. Good news!

quillt.bsky.social•25 days ago

Good news? Why do they need to restructure debt at this point?
Shouldn’t the pipeline be making money because it’s charging the full cost of construction to its oil shipping clients right? Right? 😉

thomaschanzy.bsky.social•24 days ago

Now that the expansion project is complete, that the business is substantially de-risked and generates revenues, it makes sense to look at options to reduce the cost of debt. At this level, the savings are material.

quillt.bsky.social•24 days ago

Savings? 😆☕️

https://podcasts.apple.com/ca/podcast/energi-talks/id1534771882?i=1000672814030

thomaschanzy.bsky.social•23 days ago

Thank you for sharing. Lots of speculation and assumptions in this podcast. Tolls aren't even decided yet, as is the value at sale, etc.

quillt.bsky.social•23 days ago

What are the specific speculations and assumptions you disagree with?

jflevin.bsky.social•27 days ago

This newest transaction clearly violates the promise made to Canadians to stop putting public funds into this project

It also brings the running total of 2024 fossil fuel federal subsidies to over $28 billion

https://environmentaldefence.ca/the-running-list-of-federal-fossil-fuel-subsidies-in-canada-in-2024/

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