Following is an item contributed by an In-Sights reader who chooses to be known as “Anonymous.”
Most people are unlikely to remember the following… from J. Wellington Wimpy
“I’ll gladly pay you Tuesday for a hamburger today.”
I’m old, so I remember.
Again, sensing the usefulness of predicting disaster (cue organist) … unless … Royal Dutch Shell’s “I-See-The-Future!” tea leaves gambit continues… with help from (cue organist) a Globe and Mail puff piece:
Royal Dutch Shell PLC is warning about the potential for a worldwide shortage of liquefied natural gas in the mid-2020s as Ottawa mulls whether to lend a hand to a stalled Shell-led project in British Columbia.
Hurry! Supplies Limited! Buy now before it’s too late!
Is that what Ottawa does? Mulls?
Is that potential risk of missing the brass ring the only variable in play? Not price? Not cost of shipping? Not cut-throat competition from other players? Not ever-cheaper alternate forms of non-polluting energy?
Exactly how does Shell’s hallucination constitute a verifiable shortage? Is Shell’s near-certainty a prediction of profit which guarantees an investor huge rewards for blind-faith investing? Or is it another barrage of PR bluffing?
But look: isn’t pleading for charity sweet?
What a picture. A helpless conglomerate of enfeebled oily grandmothers needs a hand to help them cross a busy intersection. Who better to ask for billions more in subsidies to assist them to the other side – today – than a federal government which just can’t say no to mega-project subsidies? Who expected years of IBM’s dysfunctional Phoenix Payroll System? Who welcomes determined willingness to supply perpetual bailouts to Ottawa-friendly SNC\Lavalin and Bombardier?
Despite the absence of Princess Enron here, again, BC’s LNG future is depicted as a brilliant opportunity to cash in… if only… [insert demand for more kowtowing and subsidies]..
It reads like this..
Shell’s outlook for a tightened global LNG market is widely expected to boost the chances for the LNG Canada project to be built in Kitimat, said Dan Tsubouchi, chief market strategist at Stream Asset Financial Management LP. But a tax obstacle remains – the federal Finance Department must decide whether to grant an exemption to LNG Canada on anti-dumping duties imposed against imports of fabricated industrial steel components.
…Shell executive Steve Hill said during a webcast that energy companies must step up soon and prepare to construct LNG export terminals in order to catch the next wave of development.
“We’re starting to see some of the building blocks and some of the intent being put in place,” said Mr. Hill, the Singapore-based executive vice-president at Shell Energy, a division of the Anglo-Dutch energy giant. But he cautioned there is a risk that LNG supply won’t keep pace with demand, “and that’s why we’ve flagged it.”
The prospect of the world’s LNG market going from a glut of supplies last year to a shortage in 2024 opens a window of opportunity for Shell, which owns 50 per cent of the LNG Canada joint venture planned for Kitimat in northern British Columbia. If the consortium decides to forge ahead in late 2018, construction would be completed in late 2023 – in time to meet the expected need for fresh supplies.
How much more governmental pandering and corporate fiction peddling will it take before it’s obvious that modern western governments are considered reliably obtuse cash cows ripe for continuous exploitation by self-evangelizing mega-corporations?