News Item, May 2011
VANCOUVER – Encana and the British Columbia government’s Pacific Carbon Trust have a new deal by which the Trust is purchasing 84,000 tonnes of carbon offsets from Encana. The agreement commits the trust to buy an additional 30,000 tonnes of carbon offsets through 2012.
The Trust will not disclose full details of the arrangement or the per-tonne price it pays Encana or any other private company.
…the deal represents a massive transfer of public money from British Columbian schools, hospitals and taxpayers to an already profitable private gas company.
…the price PCT paid for the offsets is confidential. But with PCT charging $25 per tonne when it sells offsets, the value of the deal would likely be in the range of $2 million.
“It essentially takes offset payments from schools and hospitals and gives them to industrial emitters,” said New Democratic Party environment critic Rob Fleming. “To think we’re going to drive private sector innovation by transferring money from schools, hospitals and public sector organizations is absurd.”
Gwyn Morgan, C.M. is a director of several large corporations in Canada, including EnCana Corporation and SNC-Lavalin. He is also on the board of trustees of the Fraser Institute, a Director for The Manning Centre for Building Democracy and a non-executive Director of HSBC. He is most noted for being the former President and CEO of EnCana Corporation.
Morgan’s controversial views even include ripping the Canadian Cancer Society for supporting a ban on carcinogenic insecticides and weed killers…
Morgan is also a defender of “Frankenfoods” — genetically modified (GM) foods that some European countries have banned, despite Morgan saying there are “no credible studies showing negative impacts.
VANCOUVER— New Democrat leader Adrian Dix is calling on the Liberals to immediately fix the Pacific Carbon Trust and end the Liberal practice of taking money from schools and hospitals and using it to subsidize big polluters like Encana…
…Last year the Liberals forced the public sector to send more than $18.2 million to the Pacific Carbon Trust, which then used those resources to fund private sector projects. New Democrats have repeatedly pointed out that it is ludicrous to force the public sector, which is responsible for less than one per cent of greenhouse gases emitted in the province, to subsidize big polluters who pay no penalty for the majority of their greenhouse gas emissions.
New Democrats note the Liberal policy cost the Surrey school district $497,000, the Vancouver school district $406,000, the Vancouver Coastal Health Authority $1.15 million, and UBC $1.52 million last year. Meanwhile the Liberals sent an estimated $2 million, which was collected from schools and hospitals, to Encana, an oil and gas company with deep ties to Premier Christy Clark’s transition advisor, Gywn Morgan.
CALGARY – Encana Corp., known for its vast natural gas holdings in North America, isn’t ruling out a return to the international scene if the right opportunity presents itself, the company’s chief executive said Thursday.
We have been looking at opportunities internationally. We haven’t signed any agreements yet, but we are pursuing the possibility,” Randy Eresman told a conference call with analysts after the company reported better-than-expected second-quarter results.
There are certain places on the planet that look like they would be great places to both do business and where shale gas opportunities exist, where we could put our expertise to play and potentially benefit from that.”
…Encana wouldn’t rule out any part of of the world…”
…Earlier Thursday, Encana said its hedging program helped it deliver second-quarter profits of $176 million…
…The company also announced it has amassed nearly 148,000 net hectares in the Duvernay shale region of Alberta, and more than 101,000 net hectares in the Tuscaloosa shale lands in Mississippi and Louisiana…
WASHINGTON (Reuters) – Canadian authorities are investigating employees of SNC-Lavalin Group Inc for possible corruption involving a $1.2 billion World Bank bridge project in Bangladesh, a bank spokesman said on Friday.
Gwyn Morgan, Chairman of the Board of SNC-Lavalin, had no public comment. Nor did he comment on the company’s situation in war torn Libya. In March, investigative reporter Will McMartin wrote:
…And halfway around the world, in British Columbia, the man whose company now is building a $275-million, state-of-the-art prison for Gaddafi in the Libyan capital of Tripoli, huddled with premier-designate Christy Clark, helping her prepare to take the reins of government.
Yes, as bizarre as it sounds, Gwyn Morgan, the $300,000 a year chair of Montreal-based SNC-Lavalin, a firm that for decades has worked with Gaddafi and his sons, is now serving as a “transition advisor” for Clark while she prepares to implement her “Families First” agenda in Victoria.
And above and beyond that weird fact, is another: Morgan’s company does business worth millions of dollars annually with B.C.’s public sector…