On the campaign trail, Christy Clark had some words while speaking in Fort St. John. She said:
We have a party (the NDP) that doesn’t believe in natural gas. They want to put a moratorium on even getting it out of the ground.
Had she wished to be accurate, these are the words she might have uttered:
We have a party (the NDP) that doesn’t believe in giving away natural gas. They want to gain a share for the public when producers get it out of the ground.
The four monthly auctions of petroleum and natural gas rights since John Horgan became Premier indicate the industry accepts it must pay more than it did under Christy Clark.
Don’t worry about the gas producers though. The industry’s investment in Ms. Clark paid off handsomely while she sat at the head of the Liberal Cabinet table.
Earlier this year, economist Marc Lee wrote about BC’s natural gas revenues BC’s natural gas giveaway: Production soars, revenues plummet
Not long ago, BC received huge annual royalty revenues from its growing natural gas sector. The revenues were often billed as paying for essential public services like health care and education, and were appealing politically as they meant governments did not have to raise taxes to do so.
The provincial government claimed that new production to supply a Liquified Natural Gas (LNG) export industry would raise a further $100 billion, called a Prosperity Fund, and would pay for increased services, tax cuts and/or reductions in the public debt. The “Debt Free BC” wrap on the BC Liberals’ 2013 election tour bus was predicated on these future royalties for BC gas.
Those days are gone. And even worse, BC has more recently been giving away gas worth billions without a fair return to the public treasury…
Categories: Natural Gas