Christy Clark`s LNG Sellout Collapses(IEA States That Canadian LNG Plants Are Not Happening For At Least A Decade)
Canadian LNG prospects have ‘darkened’, says International Energy Agency
Raeside picture below
I have written extensively about LNG on this site....Wrote about the looming LNG glut...Wrote about the price collapse, wrote about American and Australian output, on how there is way more supply than demand with 40% more supply coming online between now and 2018..
Christy Clark has sold out British Columbia, even if anything gets built BC will not reap benefits anywhere near Christy Clark`s delusional blathering...
I suspect that Petronas will in the next few weeks give a conditional FID for their BC proposal, it won`t mean anything..merely white noise..Petronas will not have a shovel in the ground before 2020, at the earliest, if ever(as reported here, LNG is a beggars fuel)
Petronas if they build, they want Site C dam built first, Site C dam won`t be ready until at least 2022..
Petronas has been promised free electricity for the LNG plant.....Petronas has been offered many other taxpayer freebies, those are hidden in a secret PDA(project development agreement)..a PDA being kept in secret from you the BC taxpayer and owner of the resource..
The legislature will be called into session to debate the PDA...The problem is, no one but Christy Clark`s cabinet will be allowed to see the details....
Not sure what John Horgan is going to do, I have advised him to reject the PDA and provincial sellout...The rumour mill says that Horgan will be whipping his caucus into voting for it, that after a few days of phony bluster..
The secret PDA agreement will set a terrible precedence for British Columbia, taxes, measly taxes locked in for decades, tying future Government hands, every other major project will want the same decade`s long guarantee...
Unfortunately the BC NDP is tied to labour groups who want the work...Work is one thing, but no opposition party worth their salt can agree to Christy Clark`s secretive deal...
The headline atop this post.....That is from a very good article published in the Financial Post..
The article echoes all the warnings The Straight Goods has written about for years..
British Columbia`s mainstream media are beholden to corporations, they will unlikely ever report the truth..As for BC`s press gallery, they are useless slugs, they are paid to promote the BC Liberals at any cost..
I ask all you Straight Goods readers to read this article by the Financial Post...pass it on,
The article talks about nuclear power and the latest cheap renewables..LNG can`t compete..