Is the Trudeau government cynically trying to pass over liability to First Nations?
‘The bottom line is that there is no certainty in this investment,’ says Judy Wilson
Steel pipe to be used in the oil pipeline construction of the Trans Mountain expansion project at a stockpile site in Kamloops, B.C. (Dennis Owen/Reuters)
An Indigenous group is urging other First Nations to not invest in the Trans Mountain pipeline expansion, arguing it is not a sound investment.
The Union of B.C. Indian Chiefs (UBCIC) has penned an open letter to some leaders who are exploring the idea of partial ownership in the project.
It warns of potential financial risks tied to the proposed pipeline expansion if it gets the ultimate green light from Ottawa.
“The bottom line is that there is no certainty in this investment,” said Judy Wilson, secretary treasurer with the UBCIC. She co-signed the letter with Grand Chief Stewart Phillip.
“A lot of the communities may not have the full financial information and a lot of things they should know if they are going to be investing.”
The letter outlines concerns around ballooning constructions costs of the project, citing total cost estimates upwards of $15 billion.
“When people start doing the actual number crunching they’ll see there’s no real return,” said Wilson, referencing last year’s buy-out by the federal government. MORE