Most business managers are drawn to new low-price means of production, particularly when costs of innovations are trending steadily downward and costs of conventional methods are rising. Not at BC Hydro.
Revenue from natural gas rights hits 23 year low
Were timber companies offered similar levels of cost relief as gas producers, the province would not have thousands of forestry workers hungry for employment. Politicians seem to believe that non-renewable resource companies are more deserving of financial support than ones harvesting renewable assets…
Good old days
Politicians, not too long ago, feared the press. Much has changed, not because corporate media owners are suffering financially, since most are not. Good journalism is available, much of it from new media that survives on the knife edge between survival and insolvency, ever in need of financial support. Tenuous job security ensures that few real characters survive in today’s mainstream media. It was not always so…
Oilberta – updated Dec 07/2019
Alberta has long been a puppet of the oil and gas business but Kenney’s compulsion to deliver benefits to this private sector is unprecedented. It is as if Alberta’s right wing government looked at what Norway has been doing and decided to do the exact opposite. In the first 13 weeks of the 2019-20 fiscal year, Alberta’s Heritage Savings Trust Fund declined by $156 million to $18 billion. In the last eight weeks, Norway’s wealth fund increased by C$55 billion, a rise of 4% to C$1.46 trillion.
BC Hydro, by the numbers
In the preceding article, I suggested BC Hydro was a sinking ship, ineptly managed. Numbers taken from 25 years of annual reports provide the evidence…
Steady as she goes
The 40% demand growth over 20 years is a fantasy spun for so long that it is baked into BC Hydro’s DNA. No surprise. Not spending billions of dollars to expand a system with stable demand would leave more than a handful of affluent folks looking for work.
Returning to action
My consumer testing of BC’s healthcare system is now complete so activity at In-Sights will resume this week. As Arlo Guthrie said 52 years ago, “You walk in, you get injected, inspected, […]
Democratic delusion
“Politics has become so expensive that it takes a lot of money even to be defeated.” Even with contribution limits, generous as they are, government remains biased toward serving interests of prosperous citizens…
God Bless the Children
Climate protest. A story in pictures of dedication and courage. And urgency.
Not on time, not on budget
Since actual annual payments are almost 3x the contractual obligation, it looks like the $400 million Sea to Sky Highway improvement project will involve payments to the private partner of $1.5 billion. And remember, the province financed one third of the project’s construction cost while the P3 financed two thirds…
Remembering
An old guy remembers the old days in British Columbia…
He’s come undun
He’s come undun
He twisted truth and all we got was lies
Came the time to realize
And it was too late
Norway sets an example
Norway has done far more than put aside a substantial part of the value of fossil fuel production. It has has taken aggressive action to deal with climate change…
They think we’re stupid
For decades, BC Hydro’s leadership has been predicting demand for electricity in BC will grow about 40% in 20 years. The utility continues to misinform citizens of the province even though sales records reveal something far different…
Extractivism – BC as third world economy
In British Columbia’s natural resource sector, public revenues decreased while quantities and values produced increased. Not long ago, BC thrived on resource based industries. Today, extractors do well but the public—putative owners of natural resources—gain little for the assets…
Rising production, declining gas revenue
Sale of crown petroleum and natural gas rights in the first nine month of 2019 totalled $12 million. The average for the first nine months of the preceding 20 years was $448 million. That is a reduction of more than 97%.
Who says no, when no needs to be said?
Are citizens of British Columbia protected from massive financial fraud? Frankly, we have little protection…
Questions asked
Available evidence demonstrates that, despite the province’s financial affairs being in good order, the NDP Government is satisfied to keep school teacher salaries close to the lowest paid of any Canadian province.
Politics outranks good policy
After banking large contributions from taxi owners, governing BC Liberals had declined to change provincial rules to allow ride hailing. They also failed to ensure adequate expansion of fleet sizes. Decades of government protection of the taxi industry resulted in value of a Vancouver taxi license being worth up to $1 million. Now in opposition, Wilkinson’s Liberals, supported by BC Greens, are keen to open the market to Uber and Lyft. In my view, the non-governing parties are mistaken. In most cases, facilitating the gig economy is not good public policy. Opening doors to Uber and Lyft means traffic congestion will worsen, transit use will lessen, large sums will flow to overseas tax havens, and government revenues will reduce…
Rubes with pockets to be picked
Salaries have risen dramatically for years at BCi, the province’s public pension funds manager. Current and future pension beneficiaries are treated as rubes with pockets to be picked. The amount paid the company’s CEO increased 430% since 2007. But others have done well too…
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