The Financial Post reports in its Wednesday edition that the federal government could have a difficult time selling the Trans Mountain pipeline it bought for $4.5-billion and could end up spending another $6.3-billion to get the project built. The Post's Geoffrey Morgan and Jesse Snyder write that Kinder Morgan has already spent $1.1-billion advancing the $7.4-billion Trans Mountain expansion project. Canaccord analyst David Galison said that $6.3-billion figure to build the expansion project was likely "conservative" given rising steel prices and as the feds are not as efficient at building pipelines as a specialized operator like Kinder Morgan. Environmental group Stand.earth pegged the "real cost to taxpayers" to top $12-billion. Mr. Morneau believes that Ottawa's authority to build the pipeline will be able to overcome any resistance, be it from protesters or the B.C. government. Canaccord's Mr. Galison listed Enbridge and TransCanada as companies that could benefit from owning the project, if the operational risks were reduced. TransCanada said it is "not involved in discussions about the Trans Mountain pipeline," while Enbridge said the company is focused on carrying out its $22-billion growth program.
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