Thank you, Mr. Chair.
Thank you to both of our witnesses for your testimony here at committee. I found it very interesting and very useful.
With the TMX, we'll do a bit of background, with just a little bit of the historical numbers here. The government purchased the TMX project for $4.5 billion from Kinder Morgan, after Kinder Morgan made many attempts to get the project moving but was stymied by unrealistic assessment requirements and just wasn't able to get the ball over the finish line to make it happen.
The government picked it up and what should have been a $9.7-billion project quickly jumped to $12.8 billion. By 2022, it was reported that the pipeline was at $21.4 billion. That was in December 2022. In March 2023, this committee heard that the project was at $31 billion. In three months, the project had increased by $8.8 billion. In April of this year, it was reported that the project was at $34 billion and that in May it would begin to start shipping oil and transporting oil down the pipeline.
It was at $34 billion in April. It's October today. In order for something to be used, it has to reach substantial completion, but that doesn't mean it's totally complete. Do either of you have any idea of what the total cost of that project will come in at when it's totally complete?