A new pipeline project to Canada's West Coast, announced over the Canada Day weekend, could cost taxpayers more than $100 billion. The deal includes a pipeline estimated at $30 to $40 billion, a new port facility for $10 billion, and the Pathways carbon capture initiative starting at $20 billion. Private investment is minimal, with Pembina potentially taking only a 10 to 20 percent stake. Critics argue the project's structure reflects political horse-trading rather than sound economics, with costs loaded on to secure B.C.'s participation and maintain the northern coast tanker ban. The project raises concerns about the spread of Laurentian Capitalism to Alberta, a model where large companies rely on government subsidies and regulatory protections. The Pathways carbon capture project, which could cost $20 billion or more, is described as politically motivated rather than economically beneficial, using technology not tested at this scale. The deal could set a precedent for increased subsidy demands across sectors, potentially normalizing government-funded major projects over market-driven ones. With total government supports possibly exceeding $150 billion when combined with the Trans Mountain pipeline, critics warn this could undermine Alberta's traditional market-driven economy and set a costly precedent for future infrastructure projects.
