If you are paying attention to the affairs of BC Hydro, you know the utility in in financial trouble. However, it is electricity consumers that are feeling the pain. Unfortunately, with billions of dollars in phony assets to be written off, a growing power supply that outstrips static demand, payments to private power producers at three times market price and an an export market awash in surplus power, the economic agony dealt by BC Hydro will accelerate.
Throughout time, elites have commanded portions of national economies that are disproportionate to their numbers within the populations. Of course, that is an inevitable result of different capabilities, opportunities, risk tolerance, dedication and fortune. The distribution of wealth and influence will never be equal but if the imbalance grows too large, particularly if opportunities are class-restricted, a civil society will not function. The elites may hold dominance for a period through force but history demonstrates that order will disintegrate in a society of severe inequality.
Locking BC Hydro into decades-long contracts (as much as 60 years) was a colossal mistake that ignored the likelihood of technological change. The cost of utility scale solar and wind power has dropped dramatically in recent years. As a result, BC Hydro will be paying tens of billions of dollars extra to private producers enjoying inflation protected prices far higher than alternative options.
In 2001, BC voters were treated to a comprehensive set of lies. In 2005, promises were made for 400,000 new energy jobs. In 2013, Liberals claimed a trillion dollars of economic activity would result in as much as $260 billion of government revenues and a debt free province.
There is too little public discussion of huge costs and questionable benefits of an industry that employs a tiny fraction of BC’s workers (0.4% in 2014 according to BC Stats). With land […]
First published in December, 2009 History is indeed little more than the register of the crimes, follies and misfortunes of mankind.– Edward Gibbon, English historian of Rome (1737 – 1794) Doug McArthur […]
Laila Yuile uncovered an indication that Stephen Harper has new plans for Gordon Campbell. It involves a telephone pollster with Conservative ties asking a call recipient if Gordon Campbell is trustworthy. In […]
An article I published almost three years ago is timely on this election day. Voters have an opportunity to change direction. If we do not, the plundering of British Columbia will accelerate. […]
One-percenters making changes. Anonymous reader provides interesting links in the comment section after a shuffling of deck chairs among Bilder-burglars. It’s also worth bringing to the top because Paul Fraser has been in […]
In July 2009, Tom Fletcher of Black Press wrote about the HST announcement, “Premier Gordon Campbell and Finance Minister Colin Hansen announced the change in Vancouver Thursday, presenting it as a revenue-neutral […]
The REPLAY below from September 2010 seems particularly relevant after Jonathan Fowlie exposed the story of HST pamphlets going from printer to shredder by the truckload. The original waste is bad. Worse […]
Replay from May 27, 2011 because the issues have not changed: Too-polite Canadians accept almost any declaration from people in authority. We are naive, complacent schnooks. Dumb, as well; the proof is […]
In March 2008, Gordon Campbell intimate Ken Dobell plead guilty to violating British Columbia’s lobbying legislation. Dobell had retired as deputy minister to the premier in 2005 and then busied himself as […]
Campbell and David McLean The bubble of power mentioned in the preceding story suffocated Gordon Campbell. Gradually, he became isolated, surrounded chiefly by people desperate to please. Track his administration from 2001; […]
Tzeporah Berman was at Capilano University Wednesday evening performing at the North Shore Credit Union Centre for the Performing Arts. Her act was promised to be an exploration of the past and […]