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05-22-2018, 07:46 PM
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#51 | | I contribute to threads in the offtopic forum
Join Date: Feb 2008 Location: North Van
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I was on the project from July 2017 to May 2018, my entire team was let go a couple weeks ago.
Management keeps the cards very close to the chest @ KMC, normally I have a pretty good idea what direction management is going.. in this case it's anyones guess. My suspicion is that unless someone throws them a giant carrot ($$$$) the project will not move forward.
The project will not cost 7.6B, it's more like 11-12B, and strictly from a business perspective, there are other places KMC can spend 7.6B-12B and get a better return... and that's not providing any consideration to the financial impacts associated with regulatory uncertainty.
KMC had a very hard time securing funding for this project, that's why they IPO'd the KML stock to raise the final 1.75B in May of 2017. The birds tell me that KMC went back to market in January 2018 looking for additional investment from institutions and seeking a partnership with other major pipeline owner/operators, nobody had the appetite for it. Now how do you raise the needed capital to complete the project? Either you borrow it with very unattractive terms, or you dilute KML, if you dilute because you didn't initially asses the costs of the projects correctly you risk class action lawsuit from shareholders.. unless of course the additional costs could not have be foreseen... *cough* regulatory delays *cough*. BC has provided KMC with an excuse for their poor project management abilities.
With respect to Morneau stating that if KMC doesn't build the pipeline someone else will... yeah no, that won't happen, if KMC can't see the business case @ 7.6B-12B nobody else will. Never mind the cost of purchasing the project/engineering/materials and existing decommissioned portions of the original line (Approx. 140KM) from KMC, likely to the tune of 2B-4B.. for a total project cost of between 11B-16B for another party to step in.
Meh... curious to see how it all plays out. Canada waging war on their own economy, we've become less competitive globally and it's all by our own hand.
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Originally Posted by jasonturbo Follow me on Instagram @jasonturtle if you want to feel better about your life | | 
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05-23-2018, 12:36 AM
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#52 | | Everyone wants a piece of R S...
Join Date: Jan 2013 Location: Vancouver
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Read an article about this a few days ago but can't find it right now. Essentially it stated that the reason Trudeau went with the pipeline is because he needed to give Alberta something in order for them to charge carbon taxes but with Notley unlikely to get reelected and conservatives wanting to getting rid of it there is less of an incentive for the feds to keep pushing the project. I don't think this pipeline gets built, but I could see the Eagle Spirit Energy pipeline being built.
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05-23-2018, 06:06 AM
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#53 | | I contribute to threads in the offtopic forum
Join Date: Feb 2008 Location: North Van
Posts: 2,849
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Originally Posted by Adorkami  Read an article about this a few days ago but can't find it right now. Essentially it stated that the reason Trudeau went with the pipeline is because he needed to give Alberta something in order for them to charge carbon taxes but with Notley unlikely to get reelected and conservatives wanting to getting rid of it there is less of an incentive for the feds to keep pushing the project. I don't think this pipeline gets built, but I could see the Eagle Spirit Energy pipeline being built. | The Eagle Spirit Energy Pipeline is a farce, a few white guys sat down with some aboriginals and drew a line over a map and titled it "Eagle Spirit Energy Pipeline". They are just hoping the angle of aboriginal ownership will somehow result in a gov. funded pipeline, it will never ever happen. They haven't initiated a feasibility study. they don't have any survey data, they have't started any applications etc... it's just a line on a map.
Trudeau approved L3R and TMEP while rejecting Northern Gateway, it had nothing to do with the carbon tax and everything to do with re-election.
Say no to the most controversial (Gateway) that also happened to have already been largely abandoned internally by Enbridge while giving the green light to a replacement project and another pipeline to get oil to tidewater - something nobody else was able to do.
__________________ Quote: |
Originally Posted by jasonturbo Follow me on Instagram @jasonturtle if you want to feel better about your life | | |
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06-04-2018, 01:19 PM
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#54 | | Need my Daily Fix of RS
Join Date: Nov 2014 Location: Burnaby
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All this BS for 1 silly pipeline, Wtf there are so many pipelines why suddenly this BS. Bunch of stupid tree huggers
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08-30-2018, 09:52 AM
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#55 | | I contribute to threads in the offtopic forum
Join Date: Oct 2005 Location: surrey
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What a fucking joke. It's officially impossible to do business in Canada. Trudeau better get his shit together with nafta and sort this out or we are fucked for anyone wanting to invest here https://www.cbc.ca/news/politics/tas...eals-1.4804495 | |
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08-30-2018, 10:07 AM
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#56 | | Rs has made me the woman i am today!
Join Date: Jan 2012 Location: PENIS
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build underneath first nations
chinaman built railways, they can build shitty pipeline
__________________ There's a phallic symbol infront of my car Quote: |
MG1: in fact, a new term needs to make its way into the American dictionary. Trump............ he's such a "Trump" = ultimate insult. Like, "yray, you're such a trump."
| bcrdukes yray fucked bcrdukes up the nose
dapperfied yraisis
dapperfied yray so waisis
FastAnna you literally talk out your ass
FastAnna i really cant
FastAnna yray i cant stand you
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08-30-2018, 03:46 PM
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#57 | | OMGWTFBBQ is a common word I say everyday
Join Date: Oct 2008 Location: Coquitlam
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They destroy the land more than any pipeline ever would.
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