A perfect storm in Toronto and Vancouver housing markets, “a mixture of rising home prices, foreign money laundering, and an unregulated sub-prime lending system most Canadians don’t even know exists.”
When fortunate people cannot afford a low rung on the property ladder, the situation must change. Christy Clark and Rich Coleman may regularly shake hands with the province’s most wealthy residents but, the ground upon which they stand has grown dangerously unstable.
The BC Liberal government pushed hard for a controversial expansion of the power grid into the northern wilderness, at a cost of more than $800 million. The Northwest Transmission Line was built to enable resource developments but Imperial Metals’ Red Chris and an AltaGas hydro project are the only major players on the power line grid. Red Chris would not be feasible without the extension of the power line and the $886-million expenditure “appears increasingly as a public subsidy for a single mine.”
Comparing CY 2007 to CY 2015, domestic power consumption declined 4%. But, the amount paid IPPs increased $762 million or 167%. According to BC Hydro, the per gigawatt hour price paid IPPs in the quarter ended December 2015 was $91,422. In the same period, the average MidC wholesale price was $44,212 Canadian, well under half the amount paid IPPs in British Columbia.
Liberal MLA Linda Larson’s comments were absolutely inappropriate, ill-informed and, quite frankly, incredibly ignorant. Just as the world still remembers other human-rights atrocities, like the Holocaust, to honour victims and learn from the past, the lasting effects of residential schools on First Nations people must also not be forgotten.
We have July 13 results of the monthly Crown Petroleum and Natural Gas Rights Public Rights Tender. Revenues were $510,661 so proceeds for the calendar year-to-date are less than $5 million. In the year before Christy Clark became Premier, the same seven months brought in $735 million. In 64 months of her Premiership, Christy Clark’s government brought in $1 billion from gas and petroleum rights sales. In the last 64 months of his leadership, Gordon Campbell brought in $7 billion. If we rank revenues in the first seven months of 2014, 2015 and 2016 against the last 20 years, they rank 18th, 19th and 20th…
According to Ms. Clark, LNG producers have already spent $20 billion without having made a decision to build and having no buyers for the gas – $20 billion can buy a lot of lunches.
If this was real money imagine what could be done investing in green technology – creating meaningful, well-paid jobs, and having clean air.
During its years in power, BC Liberals remade British Columbia. While the provincial economy grew, the fortunes of ordinary people declined, for the first extended period ever. Beneficiaries of change had demanded redistribution of wealth to the disadvantage of all but a few. The end result was not incidental or accidental.
From the beginning, the Fraser Institute has called itself a non-profit, apolitical research organization. However, it is instead a marketer of neoliberalism. The charity pays handsomely but only for research that reinforces notions and schemes serving its self-interested constituents.
In British Columbia, where income and disability assistance rates went unchanged from 2007 to 2016, the Campbell and Clark Governments have bent over backward to provide corporate welfare to people who write large cheques to the BC Liberal Party.
Christy Clark, 2011 edition: ” I think what British Columbians, and BC Liberals want from government now is not a leader who can grant access to people who already have a lot of access . . “
The Journalist’s Creed, written in 1814 by Walter Williams, the first dean of the Missouri School of Journalism, remains one of the clearest statements of the principles, values and standards of journalists throughout the world.
Palmer: “You managed to find $80 million for the ferries this week. Did Kevin Falcon turn over the couch cushions or something, and find some money? Where did this money come from?”
Truth?
There was no extra money.
In an oversupplied market, many LNG projects will struggle to secure buyers. Even if heavily subsidized projects move forward, LNG supply would hit the market at a bad time. Research predicts that the market will remain oversupplied…
We talk about outlandish promises made and lies told by politicians to gain election. British Columbia’s LNG promises of 2013 may have turned to dust in 2016 but they served the purpose of helping a ruling party return to office. Some will recall a similar strategy in 2005 when Liberals promised 400,000 new jobs from energy creation. We didn’t get the jobs but we did get tens of billions of dollars worth of obligations to companies that are mostly located outside the province.
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.
The decision to proceed on any run-of-river project should be made after the most stringent environmental assessments and cumulative impact studies that are possible, as well as an assessment of where there may be lower environmental footprint alternatives for producing power. All of the most stringent environmental assessment and forest practice standards that exist should be applied to any clearing of forested land connected with any activity, including run-of-river power projects.
In the three months ended December 31, 2015, BC Hydro BOUGHT 3,719 GWh from private electricity producers at an average price of $91,422 per GWh (total $340 million). In the same quarter, BC Hydro SOLD 3,493 GWh to heavy industry at an average price of $54,394 per GWh (total $190 million). Liberals claim themselves to be wise managers of public finances.
A few people are having fun with broadcaster Bill Good in the twitterverse following his response to a suggestion – after the Vancouver Sun finally allowed publication of a comprehensive criticism of Site C – that the mainstream media was trying to catch up to reporting done long ago by independent online journalists…
…easily-influenced voters in BC opted for Christy’s Clark more economically pleasing vision of the future. But it was phoney baloney, conjured up in a three-week period in a “rush assignment” given to Assistant Deputy Minister of Finance Doug Foster by Clark’s newly-hired communications director Ben Chin, formerly a CBC TV news anchor in Ontario and after running for the provincial Liberals there—and losing—he became VP of Communications with the Ontario Power Authority. In that job he infamously advised an OPA official—who was troubled by critical media reports—to “throw him some work” to get a particular journalist onside. “It would be a good score,” Chin said.
Inuit who lay claim to a third of Canada’s vast landmass, face shortened life expectancies, a high infant mortality rate, high rates of tuberculosis, widespread food insecurity, dangerously inadequate housing, and shockingly deficient local health care. But it was when Obed turned to the topic of suicide that the 750 people in the audience felt the full wintry force of his Arctic reproach…
I would like to see a calculation that subtracts all the government subsidies, tax breaks, environmental destruction, etc from the…
When a parcel is offered for auction, companies must pay a minimum amount to acquire the rights to explore for…
That looks bad, and I suspect that it is; I think I understand the meaning of "competitive auctions" and "administrative…
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in-sights.ca 
Thanks, Norm, for continuing to pound the drum about the giveaways in the oil and gas extraction industry. Aside from…