Readers may tire of reports on BC Hydro but the more I examine this public utility, the more convinced I am that citizens of BC are victims of massive financial deception.
The applicants do not need money or experience, they simply need political influence with BC Liberals. The energy purchase agreement provided by BC Hydro removes substantially all business risk and the favoured recipients take the project to money brokers who readily fund it because the creditworthiness of British Columbia stands behind each EPA. This would be like you and I buying a house we intend to rent to government through a 40 year lease at double or triple market rates, with payments escalating to protect against inflation, guaranteed by taxpayers of British Columbia….
An old expression says, “You scratch my back and I’ll scratch yours.” The maxim doesn’t require rewards for scratching be equal and, often, they are not.
According to Elections BC, AltaGas Ltd. and associates contributed a little more than $70,000 to the BC Liberals. It’s been money well spent… At $110,000 per GWh, AltaGas’ revenue from BC Hydro would be worth $143 million in 2016…
A regular reader provided this comment to the preceding article. Hugh explains that the capture of BC’s public utility by selfish profiteers was a carefully considered manoeuvre. In the end, it will […]
What is a deferred expense? The term “deferred expense” is used to describe a payment that has been made, but will not be reported as an expense until a future accounting period. […]
Bill Bennett, a man particularly qualified to make decisions on how the public ought to spend tens of billions of dollars. Bennett gained expertise and honed business acumen as an entrepreneur involved in fishing camps and a goose-hunting lodge on Hudson Bay. Despite potential conflicts, he maintained a financial connection to wilderness tourism even after beginning a career in politics.
In the government’s sale disposition of BC Rail, there are compelling indicators of massive fraud. Even worse, senior provincial officials interfered with investigation and prosecution of these crimes. Having directed the asset disposal […]
Highly regarded writer Will McMartin uses a fine brush to paint a picture of Kevin Falcon’s duplicity. The result is another part in The Tyee series on leadership candidates Do not miss […]