Posted on Jun 9, 2021
JASON KENNEY MUST RELEASE DETAILS OF $1.3 BILLION KXL LOSS TO ALBERTA
EDMONTON - Jason Kenney must release the complete contents of his failed pipeline gamble, which has now cost the Alberta public more than $1.3 billion dollars, said the Alberta NDP Caucus.
The Government of Alberta confirmed Wednesday that their “exit agreement” with TC Energy related to Jason Kenney’s Keystone XL (KXL) pipeline project investment amounts to a $1.3-billion-dollar loss to the public, following a commitment to providing billions of dollars in equity investment and loan guarantees.
The project, which is now defunct, was a central plank of Kenney’s so-called economic recovery plan.
“Today’s loss is another example of how Jason Kenney has failed our energy sector. From his embarrassing war room to his overdue and over-budget inquiry, he’s failed to create jobs. Now his mismanagement and complete incompetence on this file has cost the people of Alberta north of one billion dollars,” said NDP Energy Critic Kathleen Ganley. “The Premier should release the contents of the failed deal and apologize to all Albertans for so irresponsibly gambling away their money.”
“Albertans wish it was this Premier who was signing an exit agreement,” Ganley added.
Alberta’s NDP Caucus has also asked the Auditor General to examine all documents related to the UCP’s risky and secretive Keystone XL deal, in addition to a performance audit to examine the processes, oversight, and risk management framework of the transaction.
Kenney signed the deal on March 31, 2020, despite significant ongoing political and legal risk to the project. KXL faced ongoing legal challenges, along with growing political risk as Joe Biden — an outspoken opponent of the project — gained momentum in the Democratic primaries.
“Jason Kenney made a big bet on Donald Trump winning the White House. He lost that bet and now Albertans are paying the price,” said Ganley. “For months, he has been hiding behind confidentiality, refusing to shed any light on this deal for Albertans. Now that this deal is dead, it’s time for Jason Kenney to provide Albertans with full transparency.”