Alberta had no business pumping public money into Keystone XL

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The long-suffering citizens of Alberta recently learned they’re on the hook for yet more billions of dollars via an ill-advised investment in an oil pipeline.

The Keystone XL project was festooned with red flags well before the injection of hard-earned and now lost taxpayer funds.

Political risk can be hard to quantify but it’s one of the key things serious investors analyze closely during the decision-making process on large, impactful investments.

When a long-observed, large infrastructure development with much controversy and legal imbroglios attached to it is in danger of being cancelled by its original proponent, as the Keystone XL pipeline was by TC Energy early last year, it could be a warning signal to others that caution is in order. The message is that the prudent speculator would best stay away.

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