Saturday, August 6, 2016

British Columbia LNG Industry, The Last Gas(P)....A Straight Goods Special


 
(The below was originally posted August 21st/2015...Thought June 12th/2016 would be good time to revisit this post....Grant G 

Updated November 7th/2016..

http://www.forbes.com/sites/timdaiss/2016/11/07/australias-150-billion-energy-projects-gamble-falls-flat/#70ea189176a4

http://www.reuters.com/article/us-canada-lng-idUSKBN1322L5

http://powellriverpersuader.blogspot.ca/2016/11/woodfibre-lng-great-deception-begins.html



British Columbia LNG Industry, The Last Gas(P)......A Straight Goods Special




Written by Grant G


"A fool and their money soon part ways".....

Seems to me that every time devastating news on the world LNG front rears its head out comes a British Columbia made LNG spin story, yesterday was no different, articles and newscasts came out blazing, ...The proponent,...Steelhead LNG

Steelhead`s proposal, a floating LNG operation near Mill Bay on Vancouver Island and a $30 billion dollar LNG liquefaction plant in Port Alberni..

 http://www.vancouversun.com/news/metro/Floating+plant+proposed+Saanich+Inlet/11305428/story.html

This proposal will never happen, never be built, a foolish pipedream, ...Steelhead LNG is not an energy company, they have no assets, they own no LNG facilities, they own no upstream drill properties, Steelhead LNG is a group of people, including BC Liberal Geoff Plant and some other people with expertise in the energy game, but to be clear they have no financial means to back up their silly proposal..

I feel bad for Vancouver Island First Nations who have drank the LNG koolaid...

Steelhead LNG proposes a pipeline from northeast British Columbia to our southern B.C. coastline, from there another pipeline on the bottom of the Georgia Straight, from there a pipeline to cross Vancouver Island to BC`s wild west coast, (Sarita Bay)...In Sarita Bay Steelhead LNG proposes building a $30 billion dollar liquefaction plant, ..Thus having massive LNG tankers traversing the wind-swept Alberni canal, a waterway that is winding, very narrow, where winds whip up to 100 miles per hour on a regular basis, winds that come out of nowhere, regardless of the weather, the Port Alberni canal is a natural wind tunnel, winds race through the canal without a cloud in the sky, winds in the canal are thermal dynamic driven...The canal is also full of fishing vessels, both sport and commercial, the canal is also a tourist destination with fishing lodges and camp-sites from end to end...

This project will never happen, for two reason, the first being the risk to tourism, to salmon, to life itself, the canal is too small and too windy to ever have that kind of operation approved..

The second reason why the project will never happen is money, Steelhead has no financial means and no bank or money lender will ever sanction such an expense on an industry gone/going bust.

Breaking News...Japan has restarted their first nuclear plant(Sendai #1) ..Japan is also on pace to restart 11 more nuclear plants in the next year...

Remember this during BC`s 2013 election ...Christy Clark said this about LNG and I quote..

"British Columbia can receive five to six times the price for BC LNG in Japan"

"British Columbia will create hundreds of thousands of high-paying LNG jobs"

"British Columbia will create a $100 billion dollar prosperity fund"

"British Columbia through LNG will retire our provincial debt, pay off all crown debt, eliminate bridge tolls, British Columbia could even eliminate our provincial sales tax" 
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This section updated January 1st 2016...Japan is ramping up their nuclear restarts, so...Don`t look to Asia, as in Japan to buy any B.C. LNG...Nuclear power has NO GHG emissions...

Read this all you LNG spindoctors....And, it`s not just Japan ramping up nuclear power, South Korea is ramping up nuclear too...China has 50 nuclear plants under construction as I write this, however, for now let`s peruse Japan`s latest strides towards restarting the nuclear power grid..




Japan Nuclear Update

Sendai 1 and 2 Generated 1.3 Million MWh in November


Dec. 17, 2015–Japan’s Kyushu Electric Power Co. generated a combined 1,346,924 megawatt-hours (MWh) of electricity at its Sendai 1 and 2 reactors in November, the Federation of Electric Power Cos. of Japan (FEPC) said Dec. 11.

FEPC said Japan’s nuclear generating capacity factor for November was 4.4 percent, up from 2.7 in October, 2.2 in September and 0.9 in August. The latest generating figure means that Kyushu operated its two 890-megawatt pressurized water reactors at 105 percent capacity on average in November. Sendai 1 and 2 began full commercial operations Sept. 10 and Nov. 17.


Takahama Restart Gets Local Approval



Dec. 10, 2015–Kansai Electric Power Co. received approval from the town of Takahama on Dec. 3 for the restart of its Takahama 3 and 4 reactors, a local government official said. Kansai Electric also needs approval from Fukui Prefecture to resume operations of the reactors.



Kansai Electric said Nov. 25 that it expects the restart of Takahama 3 and 4 to be delayed to late January and late February 2016, because of a delay in its preparations for final on-site checks by Japan’s Nuclear Regulation Authority.


Kansai Electric also is waiting for Fukui District Court to decide on its appeal against an injunction preventing the restart. A court hearing ended Nov. 13.

 

Takahama Restart Delayed by a Month



Dec. 3, 2015—Kansai Electric Power Co. said Nov. 25 it expects the restart of its Takahama 3 and 4 reactors to be delayed by one month, to late January and late February 2016.


Kansai EPC said the postponement is due to a delay in its preparations for final on-site checks to be conducted by Japan’s Nuclear Regulation Authority. The company also is awaiting a court decision following a Nov. 13 hearing on its appeal to lift an April injunction preventing the restart.


Kyushu Electric Power Co.’s Sendai 1 and 2, the first Japanese power reactors to restart, resumed normal operations in September and November. All 41 other operable reactors in the country are shut pending confirmation they meet NRA safety requirements, obtain permission from local authorities and complete required pre-operational inspections.


The NRA on Nov. 18 granted full 40-year operating licenses for Takahama 3 and 4 and for Sendai 2. Under Japanese regulations, nuclear power plant operators receive a 40-year operating license, subject to a review of the operator’s maintenance plan at the 30-year mark. All three reactors are now licensed to operate until 2025.


Meanwhile, Kansai EPC filed an application Nov. 26 for a 20-year license renewal for Mihama 3, the first reactor to request a total 60 years of operation. NRA inspections required for the application included age-related assessments, ultrasonic testing of the reactor pressure vessel’s base metal and welds, and confirmation of the concrete containment’s strength, and found “no abnormality.”




Sendai 2 Begins Commercial Operations




Nov. 19, 2015—Kyushu Electric Power Co.’s 846-megawatt Sendai 2 pressurized water reactor in Kagoshima prefecture has attained full commercial operation. The reactor is the second reactor to restart in the country since the introduction of post-Fukushima regulatory standards. Power generation began last month, and operators have been gradually increasing output and carrying out tests.


The electricity output from Sendai 1 and 2 in October was about 840,000 megawatt-hours, according to the Federation of Electric Power Companies of Japan. Japan’s nuclear generating capacity factor in October was 2.7 percent, up from 2.2 percent in September.


The rest of Japan’s 43 operable reactors are shut pending confirmation by Japan’s Nuclear Regulation Authority that they meet post-Fukushima safety requirements. On Nov. 18, NRA commissioners approved 10-year life extensions for Sendai 2 and Kansai EPC’s Takahama 3 and 4, both of which are undergoing pre-operational inspections prior to restart.


JAPC Files for Examination of Tsuruga 2



Nov. 12, 2015—Japan Atomic Power Co. has filed for the Nuclear Regulation Authority to examine its 1,100-megawatt Tsuruga 2 pressurized water reactor for compatibility with post-Fukushima regulatory standards. NRA earlier approved an evaluation report by its expert panel concluding that a fault zone beneath Tsuruga 2 was active. JAPC will have to convince NRA to overturn that evaluation if the reactor is to pass the compatibility examination, without which an early restart of the reactor is unlikely.



Various Japanese power companies have filed with NRA to restart 26 Japanese reactors, five of which have shown they comply with the new standards.


 

Sendai 2 Attains Full Power Operations






Nov. 5, 2015—Japan’s Kyushu Electric Power Co. expects to begin commercial operation of its 890-megawatt Sendai 2 nuclear power reactor as early as Nov. 17, once the Nuclear Regulatory Authority completes final checks. The reactor started running at full capacity Nov. 1.


Sister plant Sendai 1 returned to regular commercial operations Sept. 10. Kyushu EPC said the two reactors’ return to commercial operation will enable it to cut monthly losses of $99 million, returning the company to profitability this fiscal year.


Shikoku EPC to File for Ikata 3 Restart Oct. 30




Nov. 5, 2015—Japan’s Shikoku Electric Power Co. will file with the NRA a document on tornado impact countermeasures for its 890-megawatt Ikata 3 nuclear reactor that could move it closer to restarting.




The tornado measures are the last issue needed to complete Ikata 3’s engineering work program. NRA’s approval of the engineering program will allow Shikoku EPC to submit an application for pre-operational inspections, the last regulatory requirement prior to restart. Local authorities approved the restart Oct. 26.



Takahama Engineering Work to Be Completed February



Nov. 5, 2015—Completion of safety engineering work at Kansai Electric Power Co.’s 870-megawatt Takahama 3 and 4 reactors will be delayed past the original December deadline until February 2016.


Kansai EPC also hopes the Nuclear Regulation Authority will simultaneously complete its fifth and final set of pre-operational inspections at the two units by then. The inspections began at the two reactors Aug. 17 and Oct. 21.



Ikata 3 Restart Gets Final Local Approvals




Oct. 29, 2015—The governor of Ehime Prefecture, Tokihiro Nakamura, has approved the restart of Shikoku Electric Power Co.'s Ikata 3 nuclear reactor. The Japan Atomic Industrial Forum said the restart is scheduled for early 2016. Local authorities from the town of Ikata already have approved the restart and all procedures to obtain agreements from local communities have been completed.




In July the 846-megawatt pressurized water reactor cleared examinations to confirm its compatibility with new post-Fukushima regulatory safety standards imposed by the Nuclear Regulation Authority. Shikoku EPC will file with NRA by Oct. 30 a plan for tornado countermeasures, the last document required before it applies for pre-operational inspections.



http://www.nei.org/News-Media/News/Japan-Nuclear-Update



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Christy Clark said all those things and more, including Christy Clark saying this, and I quote...

"We can sell British Columbia LNG to japan for five to six times the North American price" snip

Christy Clark, Rich Coleman and other LNG spindoctors are too stupid to realize why Japan is returning to nuclear power, because of money, profitability, in order to compete with other countries in manufacturing/heavy industry...Japan was not going to sit there and do nothing, Japan was not prepared to be held hostage by big energy companies and mouthy governments..Christy Clark literally told our Japanese neighbours that British Columbia was going to get rich off gouging them..Christy Clark, the mouth that roared empty words....Pretty safe to say now that Japan won`t need a lick of BC LNG...And who can forget what the painted lady Pamela Martin said about LNG..!



Christy Clark`s communication director Pamela Martin stated, and tweeted to British Columbia`s public, and I quote..



"What would you do with a $trillion Dollars"



Where to even begin, there is so much bad news out there for British Columbia`s LNG industry..

Najib Razak, Malaysia`s prime minister and Petronas head is in survival mode, the proposed Petronas Prince Rupert project has been put on the back-burner, in fact I and many others believe the project is about to be officially cancelled altogether...Yes Petronas has some contracted obligations to deliver LNG in the future, many BC LNG spindoctors ( Brad Zubyk, Resources Works, BCLNGA) and others have blathered about Petronas and the LNG they were contracted to deliver by 2019...

Petronas has solved that problem with this acquisition..

______________

Sarawak Shell Berhad, a unit of Shell, has handed over its 50 percent stake of MLNG Dua to Malaysia’s Petronas.

Previously, MLNG Dua was operated by Shell via a production sharing contract signed with Petronas in 1993.
With this handover, Petronas subsidiaries PCSB and EPMV now own 90 percent and 10 percent equity respectively as PSC operators. The previous PSC expired August 20, Petronas said in a statement on Friday.
“Petronas is committed to ensure that there will be no interruption to the supply and demand of gas and achieve stability in the operations of MLNG Dua,” said Petronas Senior VP Upstream Malaysia, Mohd Anuar Taib.

 http://www.lngworldnews.com/petronas-takes-over-shells-stake-in-mlng-dua/

___________


Petronas has just secured supply, with that acquisition they can meet their deliverable contracts without their Prince Rupert LNG liquefaction facility......An acquisition and major news story that BC`s lamestream media ignored....They were too busy spinning Steelhead LNG`s uneconomical and unattainable pie in the sky proposal.

The world LNG market today, in 2015 is already in a structural glut, and that`s before the 60 million tonnes of new capacity comes online in the next four years, the world LNG market is in a structural glut before Japan restarted their first nuclear plant, with 11 more nuclear plants slated to come online in the next year, and I remind you that at present Japan is the largest by volume consumer of LNG..NOT FOR LONG..

The news gets worse, existing LNG operations have seen their profits plunge year over year and anyone paying attention to world economies, China is in recession, manufacturing in free-fall, energy stocks are low, oil hovering at $40 dollars per barrel and forecasted to reach lows not seen in decades, possibly dropping as low as $20 dollars per barrel, expert forecasters are predicting oil to remain low for at least another decade..

___

Australia’s Santos, operator of the GLNG project, reported a half-year net profit of $37 million after tax, 82 per cent lower than the previous first half, reflecting significantly lower oil prices and a higher exploration expense.

The half-year results were also highlighted by improvements in production and significant cost reductions across the business, Santos said in its results report on Monday.
Strong operational performance – particularly from PNG LNG and Darwin LNG – saw Santos record production growth of 13 per cent compared to last year. However, the lower realised oil prices resulted in sales revenue declining by 15 per cent.

http://www.lngworldnews.com/santos-profit-plunges-82-percent/

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Japan, even before they restarted their first nuclear plant have seen LNG imports decline precipitously ...
And as for South Korea...Here`s more bad news for British Columbia`s LNG aspirations..
______


"Yoo Sang-Hee told Platts that high prices of LNG compared to coal and nuclear push the demand for the liquefied natural gas further down in the power generation sector as more gas-fired power plants remain idle.

Operating rates of gas-fired power plants went from 61.3% in 2013 to 50.8% in 2014, and as Yoo said, it is expected that these rates will slip to 23.7% by 2019 and even lower to 16.8% in 2022."

 http://www.lngworldnews.com/lng-being-pushed-out-of-south-koreas-power-generation-market/


   /

Kogas of South Korea, the world’s largest corporate buyer of LNG, said its sales volume totaled 1.90 million mt in July, a drop of 20 percent as compared to the same month last year.

Gas sales into the power sector were at 1.01 million mt, down 26.8 percent when compared to July in 2014, Kogas said in a filling to the stock exchange.
The company’s city gas sales dropped 10.6 percent on year to 887,000 mt.
Kogas imported 16.54 million mt of LNG in the first half of 2015, down 17.1 percent as compared to the previous year.

 http://www.lngworldnews.com/kogas-july-sales-down-20-pct/

__________
   
Kiss Japan as a B.C. LNG buying market goodbye...you can add South Korea to the not interested in BC LNG camp too....

And what about China?.....Well, China has lost nothing but money on Canadian energy projects and now China is getting the hell out of Canada..
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"After a string of bad investments, China Investment Corp. (CIC) has shut down its Toronto office and is opening a new one in New York, part of a quiet retreat from Canadian natural resources by China’s state-controlled entities......

CIC was founded in 2007 by the Chinese government to help the country earn a higher return on its pool of foreign exchange reserves, worth US$3.44 trillion at the end of November. CIC manages US$747 billion......

Some of that money flowed into Canada at the height of the commodity boom. CIC committed US$500 million in 2009 to SouthGobi Resources Ltd., the Vancouver-based company with operations in Mongolia, then invested $1.7 billion in Teck Resources Ltd...

All Canadian positions became big money losers. In some cases CIC is now the largest shareholder after others bailed. The move to New York may signal CIC will cut its Canadian holdings"



__________

I don`t believe China will be too interested in losing more money on unprofitable LNG export terminals


The bad news on the LNG front is staggering, the prospect for British Columbia to get any LNG projects is very, very grim indeed...Petronas, the company the BC Liberals bent over backwards for and sold out British Columbia to is in a world of hurt...Firstly...Petronas`s LNG sales are in steep decline,....And even the head honchos at Petronas see no relief in the near to long term..

________

Malaysia’s oil and gas giant Petronas said it has sold 8 percent less LNG in the second quarter of 2015, as compared to the same quarter a year ago.

The company’s LNG sales were at 6.92 million tonnes, down by 0.6 million tonnes on year due to lower production at its LNG complex in Bintulu, Petronas said on Friday.
In the first half of this year, Petronas sold 14.96 million tonnes of LNG, down from 15.15 million tonnes a year ago.


Petronas President and Group CEO Datuk Wan Zulkiflee Wan Ariffin said that the company does not foresee a reprieve from the low oil prices in the near future
“I do not expect our cash flow from operations this year to meet our CAPEX and dividend commitments. This means that we will have to persevere through with more austerity measures, and will have to draw on our cash reserves,” he said.

 http://www.lngworldnews.com/petronas-lng-sales-drop-8-pct/

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The news for Petronas`s Najib Razak and the people of Malaysia gets even worse....Petronas which supplies the government of Malaysia upwards of 30% to 40% of their national budget...Petronas will not be able to meet their dividend obligations to Malaysia...Meaning the entire population of Malaysia are about to feel the pain, cutbacks and worse..

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Petronas cuts dividend payment to RM26b in 2015


Summary of the news presented in point form:

  • Petroliam Nasional Bhd (Petronas), is trimming the national oil firm’s dividend paid to the government this year, in view of weaker earnings.
  • Revenue dropped 21% to RM66.2 billion for 1QFY15, from RM84 billion a year ago.
  • Oil firm has allocated a full year dividend of RM26 billion for the government, as compared to the RM29 billion last year. In 2013, Petronas paid a dividend of RM27 billion.
  • Petronas saw a 39% decline in its net profit to RM11.4 billion for the first financial quarter ended March 31 (1QFY15), compared with RM18.8 billion in the previous corresponding period. 
  •  
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Christy Clark and Rich Coleman blather about a generational opportunity with LNG, all the promised riches, a $trillion dollars was hyped a few short years ago and now those numbers slashed by a factor of 20 today, and now Petronas can`t even honour commitments to their own country...

The LNG industry is oversupplied, in structural over-supply with 60 million tonnes of capacity under construction coming online in the next few years, even American brownfield LNG projects are in doubt as to profitability...A brownfield operation is where most of the LNG infrastructure was already in place, in the USA a decade ago $billions were spent to gear up for LNG imports, regasification plants and pipeline networks were built, but along came the fracking revolution and the USA found themselve awash in natural gas, those facilities have been, are being converted to LNG export facilities...In British Columbia LNG would be a greenfield industry, meaning nothing is in place, no existing facilities available for conversion, no pipeline networks, everything has to be built from scratch, also, BC`s gas supplies are hundreds of miles and a rugged mountain range away from the coastline....Making BC LNG very expensive indeed, not counting First Nations needing equity deals and protecting a very diverse rich river and salmon environment...Nothing easy, not without destroying our forever sustainable wild salmon..

PIRA, they have recently come out with data implying the USA`s brownfield LNG exports plants are going to struggle to make financial returns...

___________


YC-based PIRA Energy Group believes that the return of Japanese nuclear capacity, surging Asian LNG supply, and the weakness of crude prices does not bode well for Atlantic Basin flows to Asia.

The broader compression of Asian spot prices at the high end against Henry Hub at the low end strongly implies shorter haul LNG trade and lower prices, PIRA said in its report.

  
The North American natural gas supply curve continues to look flatter. PIRA still believes that there will be an uptick in price as the US passes through its demand surge and LNG and industrial projects start up, but the extent of the inflation adjusted run-up post-2020 has been reduced as the resource base expands and productivity improves.
PIRA also sees an increasing concern that U.S. LNG projects will find it difficult to recover full costs plus a return in an increasingly competitive market.

 http://www.lngworldnews.com/pira-u-s-lng-projects-could-struggle-to-recover-costs/

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Let me be perfectly clear, if USA brownfield LNG export projects are now looking very iffy as to profitability and return on investment than British Columbia greenfield proposals are money sinkholes that will never see a profit...Unless British Columbia gives Petronas free gas, tax free and royalty free the proposed projects aren`t viable and what is even more scary...The LNG obsessed BC Liberal Government is ramming forward with a $10 billion dollar plus Site C dam project to supply electricity for an LNG industry that ISN`T going to happen!..

Over $10 billion dollars flushed down the toilet, $10 billion plus taxpayer dollars flushed away...Petronas can`t even pay themselves let alone pay British Columbia..

This information has been available here at The Straight Goods for some time, only now are the world energy experts and forecasters coming to terms with this new LNG reality, unfortunately Christy Clark and the BC Liberals put all their eggs in one basket and our domestic media sold out the people of British Columbia...Here a simple blogger with little means, no research staff, no money, a one person operation has put the Vancouver Sun, The Province, Global BC, CTV, CKNW, Vaughn Palmer, Michael Smyth, Les Leyne, Keith Baldrey and others to shame....

Those entities have the resources and the information but unfortunately they have been corrupted, sold out to the BC Liberals and to big industry..

I have saved the best for last...From Bloomberg....Nothing new that hasn`t already been reported here for several years, but confirmation..

________________

Gas Golden Age Fades as Supply Boom Meets Japan Nuclear Rebirth




The golden age of natural gas lost some of its luster this month.

Japan, the world’s biggest buyer of the fuel in liquid form, restarted a nuclear reactor on the island of Kyushu Aug. 11, re-embracing atomic power to shrink energy-import costs.

 A week later, a production milestone was marked at Santos Ltd.’s Curtis Island plant in Australia, a new liquefied natural gas project that’s part of a record annual capacity increase.

Japan’s return to nuclear power after the 2011 Fukushima disaster and China’s economic slowdown are undermining the demand that prompted the International Energy Agency to envision a golden age four years ago. Companies including Chevron Corp. and BG Group Plc were counting on Asia’s consumption as they sank hundreds of billions of dollars into new supply. A glut will cap LNG prices for years, according to Citigroup Inc.

Japan is going to do very well out of this,” Christopher Haines, a senior oil and gas analyst at BMI Research in London, said by phone Aug. 20. “Australia will probably be hit the hardest, there is a lot of new capacity coming online.”

The fossil-fuel import bill for Japan, once Asia’s biggest nuclear power producer, surged after Fukushima as the nation turned to other energy sources including LNG to plug the gap. This contributed to four years of trade deficits that hit a record 12.8 trillion yen ($103 billion) in 2014.

Sendai Restart

Kyushu Electric Power Co.’s No. 1 reactor at the Sendai facility is the first to come back online under new post-Fukushima safety rules as Japanese Prime Minister Shinzo Abe seeks to revive the atomic fleet. While Kyushu plans to resume operations at a second unit in October, the timing on further restarts is uncertain due to tougher procedures set by Japan’s Nuclear Regulation Authority, legal challenges and public opposition.

Utilities have applied to resume operations at 25 of Japan’s 43 reactors. Next year, 11 units may restart, according to Polina Diyachkina, an analyst who has covered the nation’s power providers for three years at Macquarie Group Ltd.


Australian Supply

Demand for LNG will slow as the nuclear restarts continue, Citigroup analysts including Ed Morse said in an Aug. 12 research note. The price of the fuel shipped to northeast Asia has slipped about 60 percent since climbing to a record $19.70 per million British thermal units in February 2014.
“There will be a glut of spot cargoes which will put further downward price pressure to spot prices” as Australia starts up 13 LNG units over the next three years, David Hewitt, the co-head of global oil and gas equity research at Credit Suisse Group AG, said by e-mail. “We would not be surprised to see some very low headline spot price deals in the next few years.”
LNG producers are forecast to add 50 million metric tons of new capacity next year, the largest single annual increase in history and equivalent to a fifth of current global demand, according to Sanford C. Bernstein & Co.

$150 Billion

The bulk of the supply is coming from Australia, where companies including ConocoPhillips, Royal Dutch Shell Plc and Inpex Corp. are spending more than $150 billion on ventures due to start in the next two years.
On Curtis Island in Queensland, the $18.5 billion Santos development sent gas into the first processing unit of its LNG plant, a key step on the path toward starting production, the company said Aug. 18. There are two other projects on the island, including Origin Energy’s A$24.7 billion gas-export venture with ConocoPhillips.

The next wave of exports will come from North America, where only six of the roughly 40 proposals so far will be built, according to a Bernstein report last month. Those facilities -- from Cheniere Energy Inc.’s Sabine Pass project in Louisiana to Dominion Resources Inc.’s Cove Point project in Maryland -- are scheduled to construct more than 60 million tons of capacity by 2021, according to the researcher.

 http://www.bloomberg.com/news/articles/2015-08-21/gas-golden-age-fades-as-supply-boom-meets-japan-nuclear-rebirth

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Meanwhile, British Columbia doesn`t have a single final investment decision, not one shovel in the ground, all that Australian and American capacity coming online, already under construction, 60 million tonnes annually coming online from the USA alone....

Australia has downgraded government revenue forecasts from existing LNG operations...

The news get even worse, green technology, solar energy and roof-top applications will soon see electricity produced cheaper than gas or coal....clean green technology..

 http://powellriverpersuader.blogspot.ca/2015/07/british-columbias-lng-balloon-goes-pop.html

From an earlier Straight Goods posting..

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 The renewable-energy boom is here. Trillions of dollars will be invested over the next 25 years, driving some of the most profound changes yet in how humans get their electricity. That's according to a new forecast by Bloomberg New Energy Finance that plots out global power markets to 2040. 

Here are six massive shifts coming soon to power markets near you:


1. Solar Prices Keep Crashing


The price of solar power will continue to fall, until it becomes the cheapest form of power in a rapidly expanding number of national markets. By 2026, utility-scale solar will be competitive for the majority of the world, according to BNEF. The lifetime cost of a photovoltaic solar-power plant will drop by almost half over the next 25 years, even as the prices of fossil fuels creep higher.
Solar power will eventually get so cheap that it will outcompete new fossil-fuel plants and even start to supplant some existing coal and gas plants, potentially stranding billions in fossil-fuel infrastructure. The industrial age was built on coal. The next 25 years will be the end of its dominance. 

2. Solar Billions Become Solar Trillions


With solar power so cheap, investments will surge. Expect $3.7 trillion in solar investments between now and 2040, according to BNEF. Solar alone will account for more than a third of new power capacity worldwide. Here's how that looks on a chart, with solar appropriately dressed in yellow and fossil fuels in pernicious gray:





© BNEF Expect $3.7 trillion in solar investments between now and 2040, according to BNEF. Solar alone will account for more than a third of new power capacity worldwide.


3. The Revolution Will Be Decentralized

The biggest solar revolution will take place on rooftops. High electricity prices and cheap residential battery storage will make small-scale rooftop solar ever more attractive, driving a 17-fold increase in installations. By 2040, rooftop solar will be cheaper than electricity from the grid in every major economy, and almost 13 percent of electricity worldwide will be generated from small-scale solar systems.
4. Global Demand Slows

Yes, the world is inundated with mobile phones, flat screen TVs, and air conditioners. But growth in demand for electricity is slowing. The reason: efficiency. To cram huge amounts of processing power into pocket-sized gadgets, engineers have had to focus on how to keep those gadgets from overheating. That's meant huge advances in energy efficiency. Switching to an LED light bulb, for example, can reduce electricity consumption by more than 80 percent. 
So even as people rise from poverty to middle class faster than ever, BNEF predicts that global electricity consumption will remain relatively flat. In the next 25 years, global demand will grow about 1.8 percent a year, compared with 3 percent a year from 1990 to 2012. In wealthy OECD countries, power demand will actually decline.  

5. Natural Gas Burns Briefly

Natural gas won't become the oft-idealized "bridge fuel" that transitions the world from coal to renewable energy, according to BNEF. The U.S. fracking boom will help bring global prices down some, but few countries outside the U.S. will replace coal plants with natural gas. Instead, developing countries will often opt for some combination of coal, gas, and renewables.  
Even in the fracking-rich U.S., wind power will be cheaper than building new gas plants by 2023, and utility-scale solar will be cheaper than gas by 2036.
Fossil fuels aren't going to suddenly disappear. They'll retain a 44 percent share of total electricity generation in 2040 (down from two thirds today), much of which will come from legacy plants that are cheaper to run than shut down.

 http://www.msn.com/en-ca/money/markets/the-way-humans-get-electricity-is-about-to-change-forever/ar-AAbZhP2?ocid=iehp

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Petronas`s proposed Prince Rupert project is about to be cancelled, I suspect that`s why the political forces that be, the BC Liberal Government and a sold-out compliant BC Media ran guns a blazing with the Steelhead LNG proposal...What a waste of spin on a project so uneconomical, never going to happen...With green technology running over fossil fuels, with a world glut of LNG, with oil prices in the tank, with China`s economy just starting a 10 year economic slowdown, maybe even recession...

With Iran, Iraq, Turkmenistan, Russia, China all busy constructing natural gas direct pipelines to Asia, to Japan, to Pakistan, tonnes of natural gas not needing expensive liquefaction facilities on one end and regasification terminals on the other..

Now with Japan for domestic financial reasons proceeding with nuclear restarts..

LNG export industry is the new poster boy for fools rush in..

Lastly...Steelhead LNG is nothing but noise, no financial institution is going to bankroll that operation on slim margins, in an already saturated market, with LNG use on the decline, with Japan about to slash its LNG use, with China starting a longterm slowdown, with oil and energy stocks in the tank..

The time is ripe for the BC Liberals to present their plan B to pay off the massive $140 billion they added to BC`s debt..

I won`t hold my breath.



The Straight Goods

Cheers Eyes Wide Open

 

  

Thursday, August 4, 2016

Mel Hurtig. 1932-2016. ......Robin Mathews and Company Say Goodbye





Mel Hurtig. 1932-2016. 


   Written By Robin Mathews

On Wednesday, August 3, 2016, Mel Hurtig shook off the chains of his mortality to find the place of peace that passeth understanding, and - as Shakespeare has it - ‘from whose bourn no traveller returns’. 

On Wednesday, August 3, 2016, Canada lost one of its finest citizens.  At once truculent, determined, irascible, warm, colourful, imaginative … and more, Mel Hurtig gave of his most intense energies to shape an honourable, independent, and self-respecting nation Canadians could own and cherish.  In that work he was indefatigable.

For much of his adult life, Mel Hurtig wrote books to inform Canadians of their loss of sovereignty and to urge them to action.  His last book, written for the October 2015 federal election, was a rich compendium of reasons Canadians should remove the Conservative government led by Stephen Harper … and Mel believed the book is, possibly, his most important one.  Inasmuch as it helped Canadians to take the action that changed government, it may well be his most important book. 

Mel Hurtig was a self-made man.  Raised in Edmonton, Alberta, he is said to have gone for a year to university, deciding that was not the route for him to take.  He created a bookstore in Edmonton that became famous.  Then he became a publisher – and Hurtig Publishers had an impressive and significant life.  He is remembered for creating the excellent Canadian Encyclopedia – enormously important in the years before the internet and its “research engines”, and still an on-going, important, research source.  

The story is told that he gave speeches in schools, and would visit the school library each time… shocked and disappointed at the absence of research materials on Canada.  Not only did he set about producing an Encyclopedia of the highest standard, but he also is said to have talked the Alberta government into supplying a copy for every school with a library in Canada!

A determined patriot, Mel Hurtig was early an important member of the Committee for an Independent Canada (1970). He was an admirer and friend of Walter Gordon who was the most important politician of the 1960s and 1970s working for the repatriation of Canadian economic sovereignty. The Committee disbanded in 1981, declaring (incorrectly) that its ends were mostly achieved.  Perhaps that was because the (returned) Trudeau Liberal government appeared determined to effect greater Canadian economic sovereignty.

Instead, the Trudeau Liberal government faded away, to be replaced by the intensely pro-U.S. Conservative government of “lyin Brian” Mulroney, pushing for closer ties and “deep integration” with the U.S.A.  The result was the founding in 1985 of the Council of Canadians – very largely the work of Mel Hurtig and Walter Gordon.

Many are the claims of those who declare themselves “founders” of the COC!!  But the man who secured the Four Seasons Hotel accommodation for the founding meeting, who invited (or had the word spread to) all who came to that meeting in Toronto, and then who led the Council as Chair for the first years … was Mel Hurtig.  Indeed, when (a year or so ago) a fantasy list of “founders” was published by COC, I was alarmed.  Mel Hurtig’s name was not even listed! ! In a telephone conversation with me, he remembered that a few months after the founding meeting (which she attended) he met Maud Barlow in Ottawa … and urged her to become involved with the Council….

But prickly as he was … Mel Hurtig would not speak publicly about the founding of the COC, refusing to discuss the subject.  If there were founders of the Council of Canadians, they were two: Mel Hurtig and Walter Gordon.  When I entered the meeting room in the Toronto Four Seasons Hotel, I recognized the dozens of people present as those who had a history of fighting for Canadian independence; it was almost a family reunion and - at least as ‘older brothers’ - Mel Hurtig and Walter Gordon knew all the family members.

A few days later I met Mel Hurtig and he told me that when the meeting finished, he returned to his hotel room to find it had been ransacked and left so he would know it had been ransacked.  The Mulroney RCMP, Mel surmised, leaving a calling card. Readers will remember that as prime minister Brian Mulroney was driven in a bullet-proof car – which, upon becoming prime minister, Jean Chretien laughed at … and removed.

Mel Hurtig received well-deserved honours during his lifetime of tireless work.  He will be sorely missed … and sorely needed in the coming years. If he could have a wish fulfilled involving his public life, it might well be that others, young Canadians, will materialize, will take up the task of gaining Canadian independence, and will fight on for it until it is won.

Rest in Peace.

_______________





Mel Hurtig...Thank you Mel...We need more real people like you in the world, not less...

I personally applaud your efforts..You will be missed Mel......#$^& damn.^%$#%^$ pendulum never stops...

See you soon Mel......Grant G

 http://powellriverpersuader.blogspot.ca/2009/09/farewell-to-friendswish-you-were-here.html



The Straight Goods


 Hearts Wide Open