You are presumed to be honest and responsible without evidence to the contrary beyond a reasonable doubt… on the balance of probablilties you are justified by 51 % likelyhood.
The net income in the second quarter increased by 33.3 million to 63,1 million, over doubling from the second quarter last year. The quarter generated a 10 million dollar tax liability due to increased income.
Two consistent quarters
Net income for the six-month period ended June 30, 2021 increased by $59.4 million to $114.4 million, as compared to $55.0 million in the same period of the prior year. The increase is mainly due to the $81.3 million increase in equity AFUDC, due to spending on the Expansion Project, partially offset by the $19.3 million increase in income tax expense, due to higher pre-tax income, the $2.2 million increase in interest expense, and the $2.0 million decrease in Adjusted EBITDA.
TMX
EBITDA
A company’s earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, pronounced) is an accounting measure calculated using a company’s earnings, before interest expenses, taxes, depreciation, and amortization are subtracted, as a proxy for a company’s current operating profitability (i.e., how much profit it makes with its present assets and its operations on the products it produces and sells, as well as providing a proxy for cash flow).
Two quarter increase due to customer funded equity.
Customer Income toward construction, is not moved to inventory or assets, and will eventually go to capitalization.
Who is the customer.
Trans Mountain moves oil by tariff, The 12 billion dollar (funding) cost of construction of the expansion should end up as capitalized expenses and will be written off against taxable income on a scaled annual basis and rate. Meaning that if it is ever sold the deprecated rate will be subject to recapture at a selling price that morally, should shadow fair market value or better, a profit for the Canadian taxpayer when they sell..
On this Day: August 7th 2021
The first post Afghanistan war, American purple heart day is observed.
Pig catcher for an instrument that Xrays internal pipe. File photo KDG
To Burnaby and beyond.
The Trans Mountain expansion is scheduled to start its Nicola river crossing this month. { permits permitting).
*Activities may begin as early as August, pending all necessary permits and approvals.
Horizontal Directional Drilling (HDD) will be used to cross under the Nicola River. This work takes place in a phased approach beginning with the establishment of temporary work spaces on either side of the area being crossed. One site will house a drilling rig and associated equipment, and the other will serve as a staging site for the pipe and will include welding and pipe stringing. After the site is prepared the crossing will be drilled, and then pipe pulled back through. After the drilling phase is complete the site will be cleared and returned to its original use.
Source Trans Mountain
Internet all the way, 1000 KM, on top of the pipe.
The expansion and redo of the 60 year old Trans Mountain oil line to Burnaby from Edmonton is employing nearly 10,000 people at this point. A great deal of national prestige and the sense that we as a people can do something and do it right is balanced on the outcome of this venture.
Nearly all the social economic and cultural definitions of Canadians is being tested with this pipeline.Today we start to present a series of 🎭 article for your perosal.
TMX Feature Tuesday 6 PM
1000 KM and internet all the way.
The pipeline will have fiber optics on its own, the fiber will power ,a new leak monitoring system as well as provide internet to a number of isolated rural communities in it’s path.
On this Day: August 10th 1948
Editor’s note: Pig maybe old technology ,will check it out.
The pipeline expansion / upgrade to Burnaby from Alberta is reporting more then 7000 workers at this time. the company says that they still are hiring ( click on photo above to see list of contractors ). Source : Trans Mountain Today December 3rd 2020.
Phased Work Schedule
The company is using a phased agenda to construction based on regions. they are also developing plans for their alternate route to protect the water aquifers of he Coldwater Indian Band South of Merritt BC.
The Trans Mountain Expansion Project is committed to providing pipeline and facilities construction employment opportunities for Indigenous, local and regional community members and will do so by working with Indigenous groups, communities, companies, industry associations and other stakeholders along the pipeline corridor.
TMX Today
On this Day: December 4th 1991
Terry Anderson released from being a hostage. ” I need people” “support Journalism “
Pig catcher for an instrument that Xrays internal pipe.
File photo KDG
Trans Mountain expansion signed deals to provide l improvements to Clearwater BC. The pipeline company began its expansion work in Bc over a month ago. There is a history of support and presence by the company that is now tax payer owned.
Trans Mountain and the District of Clearwater have entered into a funding agreement that will see Trans Mountain contribute $3.1 million into upgrades to Clearwater’s drinking water, wastewater management and sewer treatment systems. This contribution will be used for the construction, operation and maintenance of the infrastructure upgrades necessary to service the Trans Mountain Expansion Project’s worker accommodation camp. The initiative ensures the camp minimizes impacts on the community and provides a lasting benefit for the region.
Trans mountain today.
This is as on August 1srst 2020 and community support is not limited to this agreement.
On this Day: August 13th 1967
Montana suffers two deaths of young women by Grizzly Bear attacks in its national park.
The Trans Mountain Pipeline people are saying that they are hiring up to 600 people for the expansion in the Kamloops Merritt area.
Sureus Murphy 5A section contractor.
The contractor for 5A portion of the expansion Sureus Murphy says it is planning to hire up to 600 people on there section of the work. Locals and indigenous are welcome.
TMX says construction of their section is expected to last somewhere between 30 and 34 months, peaking for a six-month stretch in the middle.
“When we’re fully ramped up we’ll have over 600 people working on our section of the pipeline,” she says. “We really do intend to hire as many local and Indigenous employees as possible.”
The local chamber of commerce in Merritt is organizing a Trans Mountain Expansion business readiness webinar on March 25th 2019′
We invite you to attend an interactive workshop to learn more about construction and business opportunities with the Trans Mountain Expansion Project in Merritt.
Subject to necessary approvals, Trans Mountain anticipates beginning construction in the Merritt region in 2019.
Trans Mountain and its contractors will be available to discuss local construction and business opportunities related to the Project.
This event will help businesses understand and prepare for potential procurement and employment opportunities in order to maximize local economic benefits associated with the Project. Participants will learn about the Project’s procurement process and timelines to help prepare to bid for opportunities.
Light refreshments will be served with a brief presentation from Trans Mountain, breakout discussions and networking during the event.
Registration is required, please see the link below. Tickets are FREE! Reserve yours today!
Source Merritt and District Chamber of Commerce.
The 60 year old trans mountain pipeline from Alberta goes by Merritt, the expansion approved by the NEB is in 90 day review of cabinet.
The Trans Mountain court ordered final reconsideration report is out tomorrow. This comes in the light of contracts to move 150,000 barrels a day that the Alberta Government entered into with CN and CP Rail. The scope is the twinning of the existing 60 year old pipeline and its increase of tanker traffic out of Burnaby.
Burnaby South By election Monday.
A By-election is also being held on Monday for the federal riding most effected by the expansion. The CBC is reporting a massive advance pole interest this week. The by-election may elect the current NDP leader but a loss would not stop him from running in the election next fall.
Gas price, the availability of fuel
File Photo KDG
Pipeline in effect nationalised
Alberta is putting taxpayer money into rail and pipeline as well as billions spent by the federal government acquiring the existing trans mountain line. This is all peripheral to the efforts of the governments to re-examine the regulatory approval process ( NEB). With all the government activity it seems that they are far from a process that gives permitting any kind of guarantee of production.
Pipe for oil field
File:Photo KDG
Model train set in local library had a car stuck in a tunnel! Trains are a big part of our heritage! File photo KDG
Keep emotions cool…
The amount of effect this issue has on all of us is enormous. Stay cool keep on keeping on with peace and understanding…
The tripling of transport capacity from the oil sands via the Trans Mountain expansion to its Burnaby terminal and tank farm is a serious decision made. It goes back decades to when permits to explore were let in good faith and standards for development were in place. Global concerns have made standards different now however good faith remains a valuable key to function in life.
Norm Hanson a registered professional forester (retired) said that there were 700 streams to cross. And some of note at Burnaby : Eagle Creek, Silver Creek, Stony Creek and others all have tributaries potently effected by a pipeline.
Trans Mountain has identified more than 1,000 potential watercourses along the Project footprint between Edmonton and Burnaby. Trans Mountain’s Environment Team has investigated every one to collect data, with the exception of a few locations where the team did not have access to the immediate site. source Trans Mountain Today
There is also the issue of water usage in the production of bitumen at source, some thing talked about in terms of a standard that can be civil.
To be frank the use of the term Warrior up by a prepared First Nations youth, at the UN diminishes the credibility of some of the arguments for the protection of the resource rather then enhancing it.
We are glad to see the concerns of the people and the expression of concerns by them, that is their right. The amount of diligence being applied and published seems overwhelming and we hope that a broad agreement including living with, on all sides, can be somehow be settled with out one side or an another dominating.
Good luck in all your views , don’t hurt anyone.KDG
On this Day: March 27th 1980
Silver Thursday sees the silver market collapse after the failure of the Texas based Hunt brothers to corner the market.
Kevin Griffiths
percypaschal
The Proprietor Review 