"The government's going to bear that risk through all of this -- and then the private sector will come in and say, 'Well, now since you guys have borne all those bruises...'" Scott Reid on the private sector shying away from risk in the Alberta pipeline deal.
"I mean, the deal first was, you know what? Can you just get rid of all the regulatory red tape and then you know what? We'll go in the private sector and we'll build shit, man. Get out of the way. Well, they got out of the way. Okay. That's not good enough. All right. Well, now you need to de-risk the entire province of BC and measure, okay, I'm going to do all that. No, no, no. That's not good enough. We still don't like the financial risk that's involved in this. And who knows exactly, you know, whether it's going to get, okay, well, we'll just buy and own and build the fucking thing. And by the way, then we're going to pay indigenous communities to take an ownership in it. Well, that's probably going to work out. So it all knits together. And maybe 15 years from now, you've got these massive projects and they're producing a massive amounts of energy and wealth. But I mean, I am skeptical. If there's no private sector proponent, how is the project inherently commercially viable? I think it's the board system, Scott, to be honest. I think it's the court. I don't think there's anything you can do about it. I think it's the court system. So I don't think you could be on a board of directors and authorize the expenditure of billions of dollars if there's a risk that at the end of it, the Supreme Court of Canada says you didn't consult somebody appropriately enough to things off. But that risk isn't that risk isn't eliminated. Like, I mean, obviously, so now the government's going to bear that risk through a hundred percent. Through all of this. And then the private sector will come in and say, well, now, since you guys have borne all those bruises, we'll..."
💬 Discussion
"The government's going to bear that risk through all of this -- and then the private sector will come in and say, 'Well, now since you guys have borne all those bruises...'" Scott Reid on the private sector shying away from risk in the Alberta pipeline deal.
