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National Observer
9 hours ago
- National Observer
Trans Mountain's financial nightmare offers lessons in the reality of pipelines
Every morning, David Huntley checks on the oil tanker traffic outside his home. He can see them cruise up Burrard Inlet from his living room window a few hundred metres above Westridge Marine Terminal, where the Trans Mountain pipeline ends. When I popped by for a visit on June 3, an Aframax called the Tyrrhenian Sea had just docked and was partly visible through a thicket of trees. Last time Huntley saw it here was April 20; since then, it has been to China and back. Huntley, 88, has penetrating green eyes and a shock of white hair. He's lived in this cluttered bungalow at the foot of Burnaby Mountain for 41 years. Tankers have been passing below his patio all that time, though it used to be no more than one a week. Now it's almost once a day — there were 25 in May; 28 in April; 30 in March. 'My job got a lot harder once they finished Trans Mountain,' he told me. Huntley's 'job' is to track the movements of every oil tanker loading up on Canada's West Coast. He doesn't rely on his eyes, but on satellites that track the tankers long after they've sailed out of sight. That data gets transmitted to a number of tanker-monitoring websites, like and which Huntley scours every morning and most nights. He's been doing this for 10 years — ever since he spotted a tanker sailing by without a tugboat — and keeps meticulous handwritten notes. These make it clear that well over half the bitumen piped through Trans Mountain is now going to Asia, mostly China. Huntley's no fan of all this. 'Global warming is causing destruction, injury and death,' he told me. 'Under other circumstances, those responsible would be charged, convicted and jailed.' But putting that little quibble aside, the view from Huntley's patio seems like an advertisement for the new pipelines so many in the oil patch are clamouring for. Tidewater, baby: Trans Mountain has both unleashed a production boost in Alberta and diversified the market, a prairie premier's dream. But is it? Just as Huntley needs satellites to comprehend the tanker's movements, to really understand what Trans Mountain is telling us about the need for new pipelines, you need to look closely at the numbers — in particular, the money. When you do that, the dream becomes a financial nightmare. Huntley, 88, uses websites that track the global movements of oil tankers to maintain his handwritten ledger on the origin and destination of every tanker that fills up with Trans Mountain bitumen. Photo by Arno Kopecky/Canada's National Observer Canadian taxpayers who own Trans Mountain face the prospect of billions in debt. The only real question is, how many billions will that be? writes Arno Kopecky ** 'Trans Mountain is definitely losing money,' says Tom Gunton, a professor of resource and environmental management at Simon Fraser University who has been following Trans Mountain closely for years. Not just a bit of money, either. According to Gunton's calculations, spelled out in a recent report he published for the International Institute for Sustainable Development, Canadian taxpayers stand to lose between $9 billion and $19 billion from Trans Mountain, putting it among the largest oil subsidies in the world. Most Canadians are well aware of how dramatically over-budget Trans Mountain became. From an initial estimate of $5.4 billion, the final price tag came in over $34 billion. Analysts have been asking ever since how the government expects to get that back. 'There's no way anyone will pay the full cost of this pipeline,' Rory Johnston, an energy researcher and founder of the Commodity Context newsletter, told CBC in April 2024, when construction was completed. 'You're going to need to take a haircut of at least 50 per cent of this pipeline.' So far, the government has avoided that haircut by not selling. We own the asset and the debt, as income from the project starts to trickle in. What the average voter may not appreciate, though, is just how meager that trickle is, and why: the oil companies who are now shipping their product on Trans Mountain were given a sweetheart deal based on that initial price estimate. Oil producers pay a per-barrel toll to pipeline companies. Just like Bell charging for data that passes through its cell towers, the tolls are how the pipeline company recovers its construction and operation costs, plus the return on investment. The toll rate is usually a function of the project's cost — at least that's how it works in the private sector. But Trans Mountain is a Crown corporation owned by taxpayers and built with political rather than economic imperatives in mind. Such was our government's zeal to make it operational that Trans Mountain locked in its customers' toll rates years before the project's full cost came into view. As a result, oil producers are paying just over $11 per barrel to use Trans Mountain. That's roughly half of what would be required just to break even, leaving the Canadian taxpayers who own Trans Mountain with the prospect of billions in debt. The only real question is, how many billions will that be? Close-up view of the Trans Alaskan Pipeline, viewpoint from Delta Junction Viewpoint along the Richardson Highway. Photo by Shutterstock 'There's nowhere else in the world where the taxpayers are subsidizing the transportation costs of the oil sector,' Gunton notes. 'It just doesn't make any sense. They're a profitable industry, and historically they paid for their own transportation to market, as they should. So Trans Mountain is unprecedented — unprecedented in building a project where half the capital costs are not even included in the rate base for determining tolls.' Astonishingly, the deal isn't even that great for oil producers. 'Even with the subsidized tolls on the pipeline, it actually costs more to ship on Trans Mountain over to China than it does shipping on Enbridge's system down to the Gulf,' Gunton says. That helps explain why the pipeline still isn't operating at capacity. One year after it started operating, the pipeline is just over 80 per cent full; the only companies using it are the ones who signed shipping contracts before construction began. Now those companies are trying to get the toll lowered further still — Trans Mountain and its clients are locked in a complex dispute currently before the Canada Energy Regulator (CER), though a decision in the years-long case isn't expected before 2026. In response to a query about whether the Crown corporation expects to recoup the $34.5 billion it spent on the project, and how long that could take based on current toll rates, a spokesperson for Trans Mountain wrote by email: 'The Trans Mountain pipeline system is a long-life asset. The tolls for service on the pipeline are approved by the CER and provide for a return (on) the invested capital over the life of the asset.' Perhaps worst of all, Trans Mountain has failed to alleviate the discount on Canadian heavy oil that was such a big reason for its construction: Alberta bitumen sells for less in American markets than American oil, and leaders in the oil patch along with prairie premiers have long claimed this is because Canadians only have one buyer. But the discount actually got worse in the months immediately after Trans Mountain started operating; one year later, it remains worse than it was in 2020. That's not because we need more pipelines. It's because bitumen is an inferior quality of oil, costing more to refine. Americans aren't alone in paying less for it. 'China is not going to pay a premium for oil over the US,' Gunton says, 'and if they do, then the Middle East is going to ship more oil there, and other producers will ship more oil to China to smooth out those prices. You do get short-term bottlenecks here and there, but over time the price of oil is essentially equalized in all the destination markets, because people move oil around by tanker to take advantage of these price differences. And by doing that, they smooth them out.' In the meantime, oil producers looking for ways to transport their product won't need a new pipeline any time soon. On top of Trans Mountain's spare capacity, Enbridge is about to add two new pipelines' worth of transport capacity to its existing grid, simply by improving efficiency. At an Investor Day presentation in March, Colin Gruendig, Enbridge's executive vice president and president of liquid pipelines, announced plans for one million additional barrels per day of capacity by 2035 — twice the Trans Mountain expansion's volume, in less time than TMX took to build. *** Granted, none of Enbridge's pipelines lead to an ocean. But even that Trans Mountain advantage may prove fleeting, with Chinese demand for oil set to begin dropping soon. China is leading the world's energy transition, with over half its vehicle sales already in EVs, and many of its neighbours are following suit. 'The Asian [oil] market is not going to grow,' Gunton says, adding that Canadian bitumen — which costs a lot to produce, and yet more to refine — must compete with cheap Middle Eastern oil for those dwindling Asian markets. 'Right now, the Middle East has about five million barrels of unused capacity just sitting there that they can turn on tomorrow, if they want, at very low cost. So, in this environment, I don't think any rational investor is going to bet on building a major new pipeline.' No businesses are either. For all the talk from premiers like Danielle Smith, there isn't a single proposal from a company that actually builds pipelines to do so today. So if the best-case scenario for a new pipeline is so bleak, why are so many in the oil patch clamouring for one? 'I think they see this as an opportunity to again get the government to subsidize transportation costs for them,' says Tom Gunton. 'Because the only way you can build a new pipeline is if the government significantly subsidizes it.' British Columbians, at least, can take some solace in the fact that our provincial government has vocally opposed any talk of building new oil pipelines to the West Coast (although the province does seem open to dredging Burrard Inlet to expand Trans Mountain's tanker capacity). But Carney is still playing footsie with the rest of Canada's premiers on this subject. And in the prime minister's eagerness to turn Canada into an 'energy superpower' by advancing major projects through Bill C-5 (the 'One Canadian Economy Act' now making its way through parliament), the oil patch clearly smells an opportunity — not just for more federal subsidies, but less regulation too. *** 'Any new pipeline project would require careful consideration and real provincial and federal legislative change,' wrote an Enbridge spokesperson in reply to my query about whether Canada's biggest pipeline company saw a business case for building a new pipeline anywhere in Canada right now. 'This includes identifying energy projects as being in the national interest, implementing globally competitive energy and carbon policies, simplifying regulation, reducing regulatory timelines and a robust Indigenous loan guarantee program.' Most of that answer is contained in two words — 'simplifying regulation' — which is exactly what the One Canadian Economy Act proposes to do. Unfortunately for this approach, it's already been tried. Under Stephen Harper's Conservative government, the approval process for pipelines and other major projects was dramatically streamlined, with environmental assessment and other regulations rolled into a one-stop shop called the Joint Review Panel. That JRP approved the Northern Gateway Pipeline proposal, as well as the Trans Mountain expansion, only to have both decisions overturned by a federal court. The Northern Gateway never recovered, in part because Indigenous opposition and the coastal environment made that project so much more tenuous. Trans Mountain only survived by scrambling to conduct the environmental assessment it hoped to skip (the JRP had initially decided against considering the environmental impacts of a seven-fold increase in tanker traffic; it never did consider climate impacts of the increased oil production). Ultimately, the supposed streamlining of the JRP wound up delaying construction instead, thus contributing to Trans Mountain's massive cost overruns. 'Harper was like, 'our regulatory system has too much red tape, we're not getting decisions fast enough, and we want to be an energy superpower,'' recalls Eugene Kung, a lawyer with West Coast Environmental Law who has been involved in court battles with both Northern Gateway and Trans Mountain. 'Tell me if that sounds familiar.'
USA Today
a day ago
- Sport
- USA Today
2025 Lakers draft prospects: CJ Huntley
The Los Angeles Lakers badly need to upgrade at the center position this summer. While it is expected that they will look to trade for a center or possibly seek one in free agency, there is always the chance they find one for the future in the NBA draft later this month. They will have the No. 55 pick, and while a pick that deep in the draft rarely yields a rotation player, the Lakers have had success in recent years with players who were taken in the second round. On Tuesday, CJ Huntley, a big man from Appalachian State University in North Carolina, reportedly worked out for the Lakers. Huntley, who is 6-foot-11, averaged 15.7 points and 8.1 rebounds a game while shooting 49.3% from the field this past season as a fifth-year senior. He dramatically improved his scoring average, as it was the first time in his college career he had gotten into doubles figures in scoring for a full season. He isn't an elite athlete, but he's solid in that department, and he has a 7-foot-4 wingspan. His strong suit at this point appears to be his ability to score. He's a decent scoring option in the low post, and he hit 35.6% of his 3.8 3-point attempts a game during the 2024-25 campaign. Need a break? Play the USA TODAY Daily Crossword Puzzle He isn't an overpowering rebounder or a great rim protector, but he plays with plenty of energy, so he could have some real potential in both of those departments. But at this point, he's considered a bit behind on the developmental curve, and he could be a project player at the next level. Still, he can play both the 4 and 5, and perhaps he would be someone worth taking a flyer on with the No. 55 pick.
Yahoo
01-06-2025
- Business
- Yahoo
Huntley ‘Trump Truth' store hosts dueling rallies as owner vows to stay open
Outside of her Huntley brick-and-mortar 'Trump & Truth' memorabilia shop, owner Lisa Fleischmann met with about 100 supporters who gathered on Saturday to support for Fleischmann and her business's right to exist following recent clashes with village officials. Many of the supporters, who included a 12-year-old girl dressed as the president, donned pro-Trump t-shirts and other attire, waving American flags to catch the attention of passersby, some of whom slammed on their horns in solidarity. Tables set up just outside of the strip mall store were stocked with beverages, pizza and snacks to keep the crowd energized for the afternoon. Just a half-mile south of the store on Illinois Route 47, about 200 people gathered to protest the store along the roadside with its fair share of supportive honks from drivers passing the sea of protest signs amid cheers and noisemakers. The support rally came in response to news about the tussle between Fleischmann and the village over accusations that the pro-Trump store violated village sign ordinance and building codes with its inflatable dolls of President Trump and a banner hanging outside of the store. Fleischmann and her supporters believe the scrutiny is due to her support for Trump. Her landlord has also threatened eviction after facing several citations themselves in January, but attorney David Shestokas, of Orland Park, said the eviction threat is due to pressure from the village, adding her defense includes 'possible violations of First Amendment rights.' Trump-themed shop could be closed over code issues, but owner says it's political 'Some of the citations they've given, there are other businesses in the area that have had the same stuff like things in front of the businesses or on the sidewalk and they've not been bothered even slightly,' Shestokas said. We're putting together our defense with evidence on what appears to be unequal treatment.' Shestokas said he is 'extraordinarily optimistic that we'll reach a resolution that's favorable for Lisa.' Fleischmann appeared to be in high spirits Saturday, talking to customers nonstop as they perused and purchased the Trump merchandise that covered nearly every inch of the store near the intersection of Main Street and Illinois Route 47. She said that while weekends were usually busy for her, the energy on Saturday was different. 'Everybody is so great, and people coming from all over to support me means so much,' Fleischmann said. 'It's been so fun.' Mercedes Beard said it's 'very unfair and wrong' for Fleischmann to have to deal with the village 'trying to intimidate her.' At the counter-protest, organizer Vivian Lenski, of Huntley, said her event was in part to organize against Trump and his agenda but also to show that business owners 'can't do whatever they want.' 'It's not against (Fleischmann) or her store specifically, anybody can open a store, though it's kind of an eyesore, but if she's not following the rules, it's not right,' Lenski said. 'She's got to follow the law just like everyone else.' The groups, for the most part, did not appear to interact with one another aside from a brief exchange between a lone anti-Trump protester who stood across the road from Fleischmann's store and one of her supporters who crossed the road the meet him. Tina Zucker, of St. Charles, and her daughter Lee Zucker, of DeKalb, protest and said it was important to them to be at the counterprotest, though neither of them lives in Huntley. 'We've been to similar protests in the past and the goal is always to show up and get seen by people, especially the ones who can make change happen like our senators,' Lee Zucker said. She also brought along her 6-year-old daughter, who alternated between cheering with her mom and grandma and playing in the grass. 'She doesn't understand a lot of what's going on, but she knows that we should be treating people well and be kind, and I think that's enough,' Lee Zucker said. Back at Fleischmann's store, supporters echoed their belief that pressure against the business was political. David and Mercedes Beard drove about 40 minutes from Sycamore to show their support for the store. Their first visit was about a week ago, and they knew they had to return for the rally. 'People are trying to shut her down however they can,' David Beard said. 'It's a political move. For me, I don't care whether you're a Democrat or Republican, you still have the right to be here and run your business.'
Yahoo
16-05-2025
- Yahoo
11 Investigates EXCLUSIVE: Residents claim living conditions aren't much better than being on street
11 Investigates spoke exclusively to residents who live at the Wood Street Common on 3rd Avenue in downtown Pittsburgh. They are speaking out for the first time about living conditions at the apartment building downtown that provides low-income and transitional housing for the homeless. 'Paint is bubbling off the walls, my ceiling, you know what I mean, water, is water damage,' said Dewayne Young, who's been in the apartments for two years. Young and Andrew Huntley both described living conditions at the Wood Street Commons. 'Cockroaches, bed bugs, mold, loud music,' said Huntley, who moved in earlier this year. It's a subsidized apartment building with 260 units. 'There's mold. Oh yeah, oh definitely, it's filthy,' said Young. 'There's literally a bed bug on my hoodie right there. I've been seeing bed bugs and cock roaches crawling all over my stuff,' said Huntley, who showed 11 Investigates videos he took while in his apartment. Residents also sent pictures from inside the building. In those pictures, there's water damage to ceiling tiles, ceiling tiles that have been removed and wires exposed, and what appears to be mold on pipes, holes in the walls, dirty and broken floor tiles and bathroom residents said out of order for months. Earle: Did you expect better conditions? Did you expect more from this place? Dwayne Young: I mean, Yeah, Yeah, I did because like I figured if you're going there and you're paying rent, you know what I mean, it should be. Young and Huntley, who both rely on federal assistance, moved here from the Light of Life Mission. Young pays $325.00 per month in rent. Huntley pays $415.00 a month. 'They know he doesn't have any money, so they're forcing him to get disability and when he gets disability, they take his check,' said Adrienne Young, Huntley's cousin. Adrienne Young, who founded Tree of Hope, a nonprofit that works with families impacted by gun violence, is Dwayne Young's cousin. 'It's outrageous, unacceptable, deplorable conditions, inhumane conditions,' said Adrienne Young. Earle: Have you seen the drug dealing in there? Huntley: Oh yeah. Earle: There's drug dealing inside the building? Huntley: Ooh yeah. One picture sent to 11 Investigates shows the overdose drug Narcan on a shelf in a hallway. Residents said there's one on every floor. Several years ago, 11 Investigates told you about a resident who overdosed and died, but wasn't found until days later. PREVIOUS COVERAGE >>> Family angry after loved one dies & body not found for days in downtown shelter And according to the Allegheny County Medical Examiner's Office, six people have died here of drug overdoses during the past five years. 'It's horrible. It really is, it's really horrible,' said Dwayne Young. 'This place is not only dangerous, it's unlivable and we need to do something about it soon,' said Adrienne Young. 11 Investigates reached out to the Allegheny County Department of Human Services for a response. 'For the DHS/CHS-funded units, DHS conducts on-site monitoring and housing quality standards inspections to ensure that units meet HUD habitability standards. Our staff have heard some complaints occasionally, and when we hear of these concerns, we share them with the property owner. Our experience has been that the property manager has resolved these concerns appropriately. Generally, DHS receives complaints from recipients of our services through the DHS Director's Action Line; DHS has only received sporadic and infrequent complaints about Wood Street Commons related to building concerns and there has not been an increase in complaints recently. If people are experiencing issues in any DHS program, including the CHS-operated units, we encourage them to reach out to our Director's Action Line at 1-800-862-6783. It is our understanding that the Housing Authority for the City of Pittsburgh inspects units where a voucher is being used.' 11 Investigates went through the city inspection reports for that building, but didn't find anything remarkable. Since our interview, Dwayne Young has moved out and into another apartment. Andrew Huntley said he is planning on moving as well. Download the FREE WPXI News app for breaking news alerts. Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
Time of India
07-05-2025
- Sport
- Time of India
Steelers eye former Dolphins Pro Bowler as potential Aaron Rodgers backup plan in bold offseason move
The Steelers await Aaron Rodgers' decision, with Tyler Huntley emerging as a potential backup option if Rodgers retires. (Credit: Getty Images) Could the Steelers turn to a former Dolphins star while Aaron Rodgers keeps them waiting? The Pittsburgh Steelers appear to be in a holding pattern, waiting patiently on a decision from one of football's most iconic figures—Aaron Rodgers. The 41-year-old quarterback, who was released by the New York Jets earlier this offseason, has yet to make his NFL future clear. While retirement remains a legitimate possibility, whispers across the league hint that Pittsburgh may be his preferred landing spot should he choose to play in ongoing uncertainty has created a cloud of suspense around the Steelers' quarterback situation. With the team reportedly putting its plans on pause until Aaron Rodgers reaches a decision, other potential suitors have come into the conversation. Among them is former Miami Dolphins quarterback Tyler Huntley, who continues to float in the free-agent Huntley isn't the marquee name that Rodgers is, the 2022 Pro Bowl selection has demonstrated flashes of promise. CBS Sports' Bryan DeArdo highlighted Huntley's potential upside and pitfalls, writing, "Huntley has made 15 starts in his NFL career. In those games, he displayed an ability to make big plays both through the air and on the ground. He also largely kept his teams in contention." However, DeArdo did not shy away from addressing Huntley's inconsistencies, adding, "His biggest issue, however, is taking care of the ball... Huntley has nearly as many career interceptions (11) as he has touchdown passes (13).'Most recently, Huntley was thrust into action in Miami during Tua Tagovailoa's five-game absence in the 2024 season. Although the Dolphins posted a 2-3 record during that stretch, Huntley showed poise and mobility. He completed 64.7% of his passes, throwing for 829 yards, three touchdowns, and three interceptions, while adding two rushing scores. His 80.1 passer rating was modest but reflective of a quarterback still growing into a more consistent the Dolphins have restocked their quarterback room, bringing in Zach Wilson during free agency and selecting Quinn Ewers in the seventh round of the 2025 NFL Draft. That development has made Huntley expendable, and Pittsburgh could be a natural fit—especially if the Rodgers saga ends with the veteran opting for retirement or another a pivot from a future Hall of Famer to a mid-tier backup might feel like a steep drop to many fans. Yet, in the ever-unpredictable world of the NFL, such transitions are far from rare. As DeArdo noted, "While there are still parts of his game that need refining, Huntley would nonetheless be a very viable option for the Steelers if Rodgers decides to spend the 2025 season doing something else with his time."With the offseason ticking away, all eyes remain on Rodgers. But in the wings, Huntley quietly waits—ready for his next opportunity, should the door to Pittsburgh crack Read: Baltimore Ravens release Justin Tucker after multiple massage therapists accuse him of misconduct
