Posted on Feb 2, 2021
NDP MEETS WITH AUDITOR GENERAL TO REQUEST FULL REVIEW OF FAILED, MULTI-BILLION-DOLLAR KXL DEAL
CALGARY - Alberta’s NDP is asking the Auditor General to examine all documents related to the UCP’s risky and secretive Keystone XL deal that will potentially cost Alberta taxpayers billions of dollars.
NDP Energy Critic Kathleen Ganley met with the Auditor General on Friday to request a performance audit to examine the processes, oversight, and risk management framework of the transaction.
The NDP have made numerous requests for the UCP government to release the Keystone XL deal and all related documents. Most recently, a motion was put forward at the Public Accounts Committee to request Cabinet to waive confidentiality and release the documents. That request was voted down by all UCP members on the committee, citing commercial sensitivity.
“We’ve asked repeatedly for the details of this risky deal to be made public, but the UCP has continuously refused and put up roadblocks,” said NDP Leader Rachel Notley. “Billions of dollars of Albertans' money were put at risk. They deserve to know exactly how much they stand to lose and what safeguards — if any — were put in place to protect their money.”
The KXL deal was signed March 31, 2020 with the Premier committing $1.5 billion in the form of an equity investment, with an additional $6 billion in loan guarantees. With a total financial commitment of $7.5 billion, the transaction is by far the single largest investment made during this government’s mandate and came 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.
The Auditor General routinely performs audits of government contracts and significant transactions, and has the ability to review the Keystone XL deal and supporting documents without breaching any confidentiality.
“If the UCP really believed in transparency and thought this was a good deal, they should have no problem turning over these documents,” said NDP Energy Critic Kathleen Ganley. “It’s time to quit hiding and let a neutral third-party look at the deal and assess whether proper oversight was in place. Albertans’ money has been wasted.