Category: LNG

Late for the party – Updated

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Though it makes entertaining if financially absurd theatre, unfortunately for BC taxpayers, political grandstanding is irrelevant. It offers zero leverage and has no bearing on whether this effort will be seen later as either a brilliant initiative or a barking mad Ponzi scheme. The argument that pushing massive projects like Site C still is “necessary” [says who? what are the facts?] and the belief that all those other LNG fantasies ever were invaluable to taxpayers now looks more like attempts to pretend that the risk of such investments failing simply doesn’t matter. Like a sinking Titanic the bridge believes it can all be managed. Just Remain Calm.

Birds of a feather…

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…a series of overseas investigations into the Malaysian money trail, including one initiated by the F.B.I., are still pending. …activists from across the Southeast Asian nation released a statement condemning the Prime Minister, whose actions, they wrote, “have jeopardized and will sacrifice the future of Malaysia.” …Most Malaysians have resigned to the fact that corruption is a systemic problem but the quantum of the 1MDB allegations has shocked everyone.

Andrew Nikiforuk on LNG

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In B.C. the government uses propaganda not only to integrate its citizens into its wacky LNG fantasy, but to subsidize foreign companies and pay for unneeded dams and transmission lines at the same time. It is designed to make taxpayers smile while they are being robbed.

Natural gas – unclean energy

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Today’s BC Liberal Speech from the Throne claimed natural gas is “the world’s cleanest-burning fossil fuel.” Of course, that’s a bit like saying the electric Tesla Model S is the world’s least expensive car to operate. The statement requires ignoring $100,000+ costs incurred before one climbs into the driver’s seat. It’s the same with natural gas, and particularly gas that’s been produced by intensive fracking and been liquefied, transported, regasified and distributed to consumers in far-off lands.

Mythomania

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Merv Adey (BCVeritas.com): “The proper role of political media is to unspin the various prevarications and lies governments like to foist on us.” B.C. Premier Christy Clark still trying…, CBC News, February […]

"What? Me worry?"

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To begin BC’s LNG saga we have Martyn Brown’s declaration that the LNG deal is a disaster. That’s not enough to alert BC that there’s a problem? How about multiple fraud, theft and money laundering investigations in France, Switzerland, the UK, the US, Hong Kong, Singapore, Australia, and either Abu Dhabi or Dubai?…

Gas production ↑ 85%, public revenue ↓ 90%

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Premier Clark averred that meeting needs of children in government care is dependent on new funding from new industrial and commercial activities in British Columbia… That condition was not applied to construction of the Site C dam that will ultimately cost $10-$15 billion. Nor was it applied to about $10 billion of road and bridge construction in the lower mainland or $1 billion spent to deliver subsidized power to Murray Edwards’ Red Chris mine. Nor was it a condition precedent when Clark wanted to expand the size of her cabinet or hire yet more government spin doctors. A $200 million tax break for our richest citizens did not depend on new economic activity.

What gas industry?

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What BC gets from natural gas industry in 2015 does not even pay half the cost of Gas Development Ministry. #bcpoli pic.twitter.com/1wDCkQsbC7 — Norm Farrell (@Norm_Farrell) December 11, 2015 //platform.twitter.com/widgets.jsNote: Numbers from […]