The costs of the North West / Sturgeon Refinery have ballooned to over $10 billion. The net loss to the Government of Alberta on contracts related to that refinery is currently estimated at $2.5 billion. Here's what North West CEO Ian McGregor said about cost overruns in 2014: 
But, here's the real kicker: CNRL's Murray Edwards telling everyone that then-Minister Ted Morton was wrong and that all of these cost over-run risks would fall on the refinery, not the government.
Ever word of this 2015 piece from Ted Morton has played out in Alberta's fiscal update this past week. The refinery more than doubled it's budget, it was years late, and guess who ended up on the hook? You.
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But, that's not the worst part. The government re-wrote the f'n agreement to give the partnership a return on the cost-overrun, and loaned them gov't $ to be able to cover their equity share of the more expensive refinery. Don't believe anyone who tells you AB is conservative.
Bonus: PC MLA Jeff Johnson described the financing deal as, "an innovative way for our gov't to encourage growth of the value-added sector w/o a large direct investment or costly tax credits, that are becoming common in other jurisdictions." I have 26 billion questions. #ableg
