Trans Mountain's $15-B Equity Loan

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Trans Mountain pipeline expansion

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The feds’ new billions for Trans Mountain weren’t a loan, filings show

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A $20-billion loan for the Trans Mountain pipeline expansion was actually primarily advanced as equity, new filings reveal.

The equity portion, experts say, represents a nearly $15-billion bailout.

Trans Mountain and critics of the project are pushing for higher tolls to offset some of the $34-billion price tag while oil shippers want tolls as low as possible.

Trans Mountain and companies that want to ship oil through the pipeline are currently embroiled in a dispute over how much it will cost to use it.

Low tolls are unlikely to recoup the pipeline’s construction cost, meaning the dispute is essentially a fight over the level of subsidies Ottawa is offering the oil industry.

A spokesperson for Liberal Leader Mark Carney did not answer questions about whether a Carney-led government intends to sell the pipeline.

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