Tag: Tieleman.Bill

Power from the powerful

Politically connected individuals took advantage of citizens’ desire for clean, renewable energy and the Liberals wrote contracts with “lucky firms” that bore no relationship to market prices, guaranteed massive private profits and ensured all financial risks stayed with the public. The contracts in British Columbia last as long as sixty years and allow prices that are as much as 5x market value. In addition, the contracts have annual inflation escalators, a privilege allowed no other commercial segment. All taxpayers get is more power to sell at a loss.

Schools help fund Encana’s foreign investments

Carbon deal represents a massive transfer of public money from British Columbian schools, hospitals and taxpayers to an already profitable private gas company. …it is ludicrous to force the public sector, which is responsible for less than one per cent of greenhouse gases emitted in the province, to subsidize big polluters who pay no penalty for the majority of their greenhouse gas emissions.