The federal government says the Trans Mountain pipeline has earned net income of $29 million from operating revenues of $728 million in the 19 months since it was purchased.
the oil conduit running from Edmonton to the Vancouver area had operating expenses of $366 million since it was purchased in the fall of 2018 from Kinder Morgan Canada for about $4.4 billion.
In a report last November, the Institute for Energy Economics and Financial Analysis charged that Trans Mountain is receiving hundreds of millions of dollars in hidden direct and indirect federal and provincial government subsidies. In February, Trans Mountain announced a revised construction cost estimate for its controversial expansion project, bumping it up by about 70 per cent from $7.4 billion to $12.6 billion.
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