LNG...not a bridge fuel, a short term energy ponzi scheme run amok.
For the last three months every Postmedia story on BC LNG features but one person blathering..
Rich Coleman has literally pulled every media card out of his stacked deck in an attempt, as feeble as his attempt is...in an attempt to keep the BC delusional LNG fantasy alive..it isn't alive, it's on life support...
LNG will not happen in B.C. in 2017 or 2020....big energy is not interested in expensive BC greenfield projects....BC Liberal government will not secure any real FIDs unless they agree to give the gas away for free...those be the facts on the ground.
Take a look at these feeble attempts by Rich Coleman...the same non-story promoted by CAPP controlled Postmedia..
December 28th/2016..Vancouver Sun.
Rich Coleman predicts empty gas fumes.
Same nothing story, same bloated gasman Rich Coleman blathering gibberish Globe and Mail December 27th/2016.
The same nothing story appeared in the Alaska Highway News...same article appeared everywhere..
So what is going on in B.C. with LNG.....?
Sweet nothing, zip, nada...LNG is dead...
BC northern gas lands had their worst year ever for drilling...BC Government received a mere $14 million in land sales for the year..the lowest number ever recorded, going back decades..
2016 worst year on record for B.C. oil and gas drilling licences - See more at:
"Sales have been down since 2014 due to slumping oil and gas prices, as well as declining availability of high quality land. In February, the province recorded its first-ever $0 land sale.
When asked for comment, a ministry of natural gas spokesperson said B.C. isn't alone in seeing lower natural gas revenues."
The latest Petronas news is....Petronas is now musing about moving part of their project to Ridley island..
Petronas is doing no such thing, the story is unsourced..
What the story is really about....Petronas is not building anything in BC...not unless they get free gas and or the LNG glut ends..it won't end...LNG experts have come around to my forecasts that the glut is here until 2030...
From the above article..
"But with oil and gas prices depressing Asian LNG prices, it makes sense to try to get the project’s capital costs down, and choosing a site that does not require a $1 billion suspension bridge might go some way in accomplishing that.
When LNG projects were first proposed for B.C., there was some urgency in getting them approved and built, since the companies were in a race to lock up long-term offtake agreements with Asian buyers.
But those projects missed the last window, and there is now an oversupply of LNG on the market, thanks in part to new LNG projects now in production in Australia. The demand for LNG in Asia has also slowed somewhat.
Analysts now predict the next wave of demand for LNG in Asia will occur between 2025 and 2030"________
The present LNG ponzi scheme is on the verge of collapse..
There is no one to sell LNG to....Japan as a LNG market is gone...nuclear restarts and a declining population...Japan is now reselling LNG cargoes they contracted to buy, thus taking away market share from the now many LNG sellers..
Europe's electricity demand is, like many first-world nations...falling, even with populations growing electrical demand is in decline because of efficient homes and modern technology...
In fact electric cars are the only thing keeping electrical demand up in Europe....without those new electric cars Europe would be awash in electricity...electricity coming from renewable power..
Fossil Fuels for Electricity
1. There Will Be No Golden Age of Gas
China set to initiate construction work on LNG pipeline
Here comes the sun: In less than a decade, solar power will likely be the cheapest option everywhere on Earth
You might be wondering why Postmedia actually posted a truthful article....The reason..BC Liberal LNG delusion is over...the new meme is....(it's not the BC Liberal Government's fault, it's technology)
Bullshit...Christy Clark won the 2013 BC election on a $trillion dollar lie...She wears it..
Petronas is not going forward...LNG Canada is not going forward...Woodfibre LNG in Squamish isn't going forward either..
The only thing going forward is a $15 billion dollar Site C dam boondoggle....And we don't need the power..Alberta doesn't need Site C power and as for electrfying our northern gasfields...There is no justification because there is no LNG industry coming to B.C....Electricity rates are being sold for 1/5th the cost of Site C dam power...BC is going to lose its shirt with Site C..or lose BC Hydro to private hands over unsustainable debt.
The world is awash in natural gas and LNG...
BC Voters deserve better from Keith Baldrey..Vaughn Palmer...Vancouver Sun..Global BC....
LNG is dead..and it won't be revived....
LNG is a ponzi scheme, and like all ponzi schemes....The pyramids collapse.
I'll be doing another blogcast radio spot with CanadianGlen on January 11th/2017...
2 hours of The Straight Goods on LNG and politics...The good, the bad and the ugly..eer, I mean Christy Clark-The habitual liar
The Straight Goods
Cheers Eyes Wide Open