Quote:
Originally Posted by Northendzone
the part that GMG on these projects in how the final price is never under budget, it is always way over.
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The single most concerning thing of the entire presentation was this:
Quote:
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King mentioned there are 3 subcontractors short-listed for construction. King said there will be no over-run on the $890,000,000 project estimate because he looked one of the subcontractors in the eye and said "you know those projects that run over with costs? This will not be one of them!"
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Now the source is admitedly hockey.modern's summary of reddit's summary of the presentation (
link), but if true that was really really dumb thing to say. Enough people in this province, including Ken King's bosses who own freakin oil companies, are familiar enough with massive infrastructure and Oil Sands cost overruns that you just don't say that.
The most important question to be answered about the financing has nothing to with chopping up the $890M estimate, it is who is on the hook for overruns.