By Marina Wang
“For sale: Stalled and collapsing pipeline project,” reads the title of a Craigslist ad, posted May 29. A sardonic Craigslist user has put the controversial Kinder Morgan Trans Mountain expansion up for sale.
The ad appeared following Prime Minister Justin Trudeau’s announcement that the federal government will spend $4.5-billion to buy out the pipeline. After getting cold feet, Kinder Morgan had halted construction in April. The multi-billion crown intervention would allow for construction to resume.
Finance minister Bill Morneau has said that he is prepared for Ottawa to own the pipeline in the interim, and that the project is being marketed to potential future buyers. However, the $4.5-billion loan may not be enough to see the pipeline through. Construction costs of the pipeline are estimated to be at $7.4-billion—funds that the liberals may have to scrap together from taxpayer dollars. The Craigslist ad is asking for $9-billion.
“Comes with federal approval. (subject to 15 legal challenges, but it’ll be fine),” reads the ad description. It continues with “The vintage pipeline is a handyman’s dream project. It has been in place since the 1950s and has only had around 70 spills – a great fixer upper.”
The ad also commented on the pipeline’s invasiveness on B.C. communities: “Nestled in a cosy right of way, with mountain, river and ocean views, and through prime agricultural and dense residential real estate in Vancouver’s red-hot housing market!”
Lastly, the ad took a dig at the lack of preparedness in case of an oil spill: “Buyers must be prepared to hold $500M in cash for oil spill liability, which we think is such a low likelihood that we haven’t even done any modelling.” The completed pipeline would transport nearly 900,000 barrels of diluted bitumen a day, with the substance being controversial as little is known about its pollutant properties.
For any interested buyers, cryptocurrencies are accepted.
