Natural Gas

Before Clark, during Clark

When Encana’s founding CEO Gwyn Morgan became Christy Clark’s transition team advisor, natural gas producers knew they’d bet on a good thing.

After six years of Clark, we now see just how good that thing was for gas companies.

12 years

12 Years of BC’s Natural Gas Revenues

Revs

By the way, these numbers are created from provincial reports but they won’t be reported in Postmedia because that newspaper company partnered with the Canadian Association of Petroleum Producers to promote interests of the fossil fuel industry.

Categories: Natural Gas

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15 replies »

  1. I’m sure this table makes immediate sense, to career accountants like yourself, Norm. As a plebe, my eyes were swimming all over the page for a few minutes, trying to make sense.

    I was motivated to understand, as I knew you had important points to make… so I stuck with it and found the gold. (I suspect many others would look away, to avoid falling asleep, LOL!)

    You have said elsewhere that the province’s gas receipts have been tanking despite a big increase in volume. And Christy said LNG was going to erase our debt? Ha!

    You have an important family celebration today… but when you get time, an accompanying graph could provide an extra level of clarity for people like me, who see lists of numbers and go into mental shut-down mode.

    Thanks for all of your efforts to bring important news to BC citizens.

    Liked by 1 person

    • I understand your point Barry but people who aim to give even more benefits to the fossil fuel industry like to dispute facts. The numbers shown here can be confirmed through the sources quoted.

      But, to simplify the intended message, I added a second chart that shows how much change occurred under Clark. Production increased but the province’s share declined to a minimal amount.

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        • Yes. With advanced technology, drilling is not a low risk situation, unlike years ago when unsophisticated techniques were followed.

          Interesting that fossil fuel industries, who claim climate change science is not to be believed, rely heavily on scientific guidance when they decide where and how to drill.

          Like

  2. Norm, I think your charts helped sway the election. I know from one “Liberal” acquaintance that the Liberals dreaded your name and your charts.

    It is hard to hide the truth, when the truth stares at you between the eyes.

    Liked by 1 person

  3. Let us not forget that Gwyn Morgan was also once CEO of SNC Lavalin, which holds the engineering patents for ART (SkyTrain) and heads PROTRANS BC, a subsidiary of SNC-Lavalin Inc., is the private operator of the Canada Line, a 19-km automated rail-based rapid transit system.

    Morgan’s tentacles run deep in BC.

    Liked by 1 person

  4. I’ve heard from a few constituencies that my charts helped reveal truths. It pleases me and regular readers to learn that our efforts had purpose.

    Defeating Liberals only required a few percentage points of change. Horgan and Weaver acting together will make a vital force in BC politics. I care most about having the major issues addressed and both political leaders demonstrate they will work for the needed changes.

    Today, we have a government by and for people. Before, we had a government by and for cash rich corporations.

    Like

  5. love those charts. its clear when Christy became premier she gave the companies a big, big break, one not even Gordon Campbell gave them, oh, well, the fun times are over for the companies and now they will blame the NDP for it all.

    Like

  6. A picture’s worth a thousand words. The bigger picture seems to be of a leader who had to pay a premium to win the support of an industry still puzzling over BC’s difficult terrains, physical, economic, constitutional and political. Without these friendship payments, levied upon BC citizens without full disclosure, the shell games the BC Liberals had to play to conceal their starter’s ideological dysmanagement of public enterprises and their finisher’s cynical inadequacy might have been more broadly and sooner recognized.

    Nobody who ever visited Norm’s site was so misinformed. And, in spite of the decades of taunts and criticisms from MSM, his efforts are being vindicated as what we here always knew gradually becomes part of the official public document. It was critical that the BC Liberals were disconnected from the ability to block such disclosure. They never had any influence here, that’s for sure!

    Liked by 2 people

  7. I’ve been on my annual visit to a son’s recreational property in northern Alberta. This year a newly-retired engineer from Fort Mac was a regular visitor to the nightly campfires the neighbors on the lake take turns hosting. He started out the first evening by informing everyone that the BC government had “really blown it” by dragging its feet on LNG and not doing enough to accommodate Petronas. I’m certain his ears are still burning, and it isn’t from the campfires.

    I recommended a website called in-sights.ca where he might find much useful information, and hopefully he takes the opportunity. He might even find the answer he promised to get me to a question I posed on another issue we discussed: What is the most effective method currently recommended to clean up a spill of diluted bitumen into the coastal waters of British Columbia?

    Something tells me I might have to ask him again next summer.

    Like

  8. From a Feb. 2017 Van Sun article:

    Quote:

    “Further debt is undertaken by (BC) government-owned entities that have their own sources of revenues, like electricity ratepayers in the case of B.C. Hydro, and tolls in the case of the provincial agency that oversees the Port Mann bridge and that will build the toll bridge replacement for the Massey Tunnel.

    Their self-supported debt combined with the aforementioned taxpayer supported debt, is slated to boost the total provincial debt to $78 billion by the end of the decade.

    And though de Jong did not mention it during his budget presentation, the Hydro debt has also set the alarm bells to ringing at Moody’s investor service.

    “The anticipated increase in debt continues to pressure the province’s rating since it raises the contingent liability of British Columbia,” wrote the analysts at Moody’s in their most recent report on the province. “B.C. Hydro posts some (financial) metrics that are among the weakest of Canadian provincial utilities.”

    From $12 billion when the B.C. Liberals took office, the Hydro debt is projected to hit $23 billion by the end of the decade according to Tuesday’s budget. The Liberals claim they are addressing the rating agency concerns about Hydro as well.

    But pause for a moment to consider the ironies here. A government that promised to make B.C. debt free in the last election has, with another election approaching, run up so much debt that it has put its own much treasured credit rating at risk.”

    http://vancouversun.com/opinion/columnists/vaughn-palmer-b-c-s-debt-load-puts-aaa-rating-at-risk

    Note the article doesn’t mention the $56 billion BC Hydro owes to IPPs.

    Like

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