21 June 2013

Cost Creepy Crawlies #nlpoli

Maybe it’s the lack of independent corroboration in this Telegram article that just sends a chill up your spine.

That’s the one where Nalcor officials insist they are doing a great job keeping costs on the megaproject under control.

Ed Martin told the crowd at the company's annual public meeting that the project is on time and on budget.  Would that be the $6.2 billion budget or some budget approved later on based on skyrocketing costs?

You see, they insisted initially the thing would be $5.0 billion.

Take it to the bank.

Then the cost jumped to $6.2 billion.

And they insisted you could bank on that number.

So you can see why some people might wonder if their cost estimates are as firm as the North Spur…

Let alone what the real, up-to-date cost estimates are.