Sunday, December 8, 2013

Natural Gas Asset Sell-Off Frenzy In British Columbia Underway

At this very moment the reality is setting in, Christy Clark`s blathering about a $trillion dollar LNG industry in British Columbia is a bust...The BC Liberal Government is so desperate to change the channel and deflect the public`s attention from the facts on the ground, only the very stupid and naive are falling for the bullshit...

Here we are just weeks from Christmas and our British Columbia is conducting more reviews and asking the public for input on all of them..

BC Liberals are asking the public to weigh in on speeding limits across our province, I guess road and speed dynamic experts are in short supply, so let`s ask joe lunch bunket what British Columbia`s speed limits should be...

BC Liberals are asking for input from the public on how they can make life better for people with disabilities...Here`s a clue Christy Clark..Being British Columbia is the most expensive province to live in, the highest taxed province in Canada and we have the lowest disability rates, raise the rates....Does that help you out Christy Clark?....Review done!

BC Liberals are also asking the public for input on cosmetic pesticides...again, we must have a shortage of chemists, biologists and environmentalists, let`s ask joe lunch bucket who just bought his beer and wine from a major grocery store what the speed limits should be, perhaps while he is speeding past pedestrian crosswalks at 100 MPH, pedestrian crosswalks with an old lady in a wheelchair and a blind person stepping/rolling out onto the street...Let`s ask joe lunchbucket what he thinks about the use of Round-Up and other cosmetic poisons..?

You see folks, these BC Liberals are so devoid of any ideas, British Columbia is drowning in debt, we lost 8000 more full time jobs in November, a traditional hiring month for many industries and we lost more jobs...And their(BC Liberals) own economic forecast panel has lowered BC`s future economic activity..In other words British Columbia is dead, high taxes and skyrocketing utility rates...This forecast panel is citing poor retail sales numbers too..

As for all those reviews, does anyone believe this BC Liberal Government listens to anyone but corporate political party contributors?...A bunch of reviews asking for public input, reviews that will report back some time next summer, or later.,.

However, this article isn`t about any of those issues....This article about British Columbia`s BC Liberal much vaunted but now dead LNG fantasy..

As you know Christy Clark just returned from Asia...And Christy has been very quiet since her return, Japan however stated they are not satified with BC`s LNG taxation plan just a couple of days ago...Those shocking details are in ther below linked post..

And another major LNG gas player in British Columbia has announced they are running for the hills, they are selling all their British Columbia assets, this is being announced just days after Christy Clark`s return from Asia, her return from Asia carrying an empty paper bag full of echos and bluster, unfortunately you can`t sell bluster for a profit..

Here`s the deal..Devon Energy is outta here, out of British Columbia ...From the Financial post...Before I get started, this article was from a couple of days ago, yet Global BC..CKNW..Vancouver Sun and The Province never bothered to report it...I wonder why...They are too busy reporting about fake reviews, too busy writing fluff and puff stories..Seems contagious in British Columbia..As for me, I figure it`s important, important considering our debt, prosperity fund and zillions of jobs along with a $trillion dollars were all predicated on and promised pre-election.....Every question from healthcare, education funding, infrastructure and debt pay-down every burning question was answered with...."LNG revenue will pay for everything"

Here is a little cut n paste, be prepared for a shocker Christy Clark..


Devon Energy Corp to put Canadian natural gas assets up for sale as low prices bite

 As industry and governments keep up the push to open new markets for Western Canadian natural gas, Devon Energy Corp. is throwing in the towel on the depressed Canadian business, providing a reminder that the road to a liquefied natural gas (LNG) industry from the West Coast remains long and uncertain......

The sell-off comes as British Columbia premier Christy Clark returned this week from another trip to Asia, leading a delegation of more than 120 companies, First Nations, labour and community representatives to promote LNG investment. In a news release, the province gushed: “British Columbia and its natural gas potential are the talk of Asia.”
But at Devon, the gas retreat will impact up to 900 out of 2,000 staff in Canada. Of these, 500 field workers are expected to be re-hired by asset buyers. Efforts will be made to re-deploy to the heavy oil business some of the Calgary-based office staff working on conventional plays.....

 The rest will be out of a job, joining staff at EnCana Corp., Talisman Energy Inc., and others that are also out of work due to the protracted natural gas bust, even as the oil sands business is booming and short of hands......

 It’s a competitive world out there, and from our perspective, the light oil opportunities we have in the U.S. trump the opportunities that we have in Canada,” Mr. Seasons said. “I would rather see these assets move into the hands of people who can apply capital to them and focus and develop them, rather than have a slow death.”
The assets are entering the market as the Western Canadian gas basin is saturated with ‘for sale’ signs. Encana, Canadian Natural Resources Ltd., Suncor Energy Inc., Penn West Petroleum Ltd. are among those looking for gas buyers.


Well, there you have it..for sale signs everywhere in our BC gas fields...As written above in my links...All the big private energy companies are getting out of dodge, also known as British Columbia..

The only players left are going to be..CONOC..SINOPEC...JAPEX..KOGAS...PETRONAS..

These are not companies per se..these are foreign Governments, those companies will own the gas in the ground, the well-heads, the pipelines and the LNG plants, and..and they will not only employ mostly imported Asian workers but will also sell LNG to themselves for an on-paper-loss...

 Oh, and did I mention that Kogas is wanting out of Christy Clark`s $trillion dollar fantasy too..


South Korea’s KOGAS may sell up to 10% stake in LNG Canada


Korea Gas Corp (KOGAS) is considering selling 5% to 10% of its stake in the LNG Canada project, in which it currently holds 20%, the KOGAS chief executive said on Tuesday at the World Energy Congress.....

The announcement comes after South Korea’s new government earlier this year initiated a review of state-owned overseas investments in oil and gas due to poor profitability.....

“Concrete progress over the sales consideration will be made early next year,” KOGAS CEO Jang Seok-hyo told reporters, adding that the aim is to improve its financial structure.
Asia’s fourth-largest economy is heavily dependent on energy imports and rapidly expanded overseas investments to develop oil and gas reserves between 2008 and 2012, hoping to fend off inflation driven by rising import costs.....

 The government installed this past February has said it wants to focus more on the quality than the quantity of South Korea’s energy investments.

The policy shift earlier prompted another state-run firm, Korea National Oil Corporation (KNOC), to say it was considering selling “non-core parts” of its loss-making Canadian energy subsidiary Harvest Operations.

Now, even with the news that the Government of Brunei(PetroleumBrunei) is planning on joining the Government of Malaysia(Petronas) and is considering a whopping 3% stake($500 million dollar investment) in Petronas`s proposed project doesn`t hold much weight...


The below link to the Vancouver Sun...You see friends and readers, the Vancouver Sun or Province didn`t report on Devon Energy selling all their British Columbia assets or Kogas dumping their BC assets, not a word, instead the Vancouver Sun is reporting about the Government of Brunei proposing a drip of an investment into the proposed Petronas project, ...Petronas`s pipeline and LNG plant proposal has an estimated cost of $17 billion...3% of $17 billion is about $500 million, ...Why does Petronas want a little investor?..Because Petronas has financial problems

Obviously our Provincial media have a hoodwinking agenda at play, hear no evil, see no evil and print no evil, ..So, so they print glowing BC Liberal propaganda pieces for favour...Use your brains people and read between the lines.

These foreign Governments are planning on selling gas to themselves...Meaning next to nothing in royalties for British Columbia..our airshed spoiled, Billions of gallons of our fresh water wasted every year, deadly toxins pumped into our groundwater...And we will make nothing in the way of money..

Suncor selling their BC asstes..gone..Talisman Energy gone, they sold all their BC assets..EnCana selling their BC gas assets...

I personally don`t get angry at the BC Liberal Government for lying their face off, they have done it for years, I expect it..Habitual liars.....Do lie..No surprise there..

It`s our BC Media, where are they, when will they ask tough questions, when will they do their job..

Keith Baldrey..Vaughn Palmer..Michael Smyth..Les Leyne..Tom Fletcher..Bill Good..Sean Leslie..

This one blogging writer Grant G has produced more quality stories, done more research, revealed more facts and details than all of those mentioned above combined, and they have research departments and editors...And one little old blogger put them to shame..

How can they even look themselves in the mirror?

The Straight Goods

Cheers Eyes Wide Open


Jon Ghun said...

You're absolutely right about everything you've written here.

And the worst of it is how the legacy corporate media has kept to the overlords' script and continued to dis-inform the people of this province.

A form of fascism has us in its grip and it's not going to let go until the body^politik starts doing the the death rattle.

Hugh said...

If BC natural gas resource is so great, they should nationalize it.

Develop the gas for use in BC, as long as it doesn't have to rely on fracking.

Convert vehicles to run on natural gas. Provide cheap natural gas for people. Good for economy.

Lots of jobs in natural gas conversions. Stop relying on gasoline made from oil sands.

Natural gas cleaner than diesel.


Anonymous said...

Fadden of CSIS at that time, warned of China's huge inroads into Canada. BC was specifically mentioned because, Gordon Campbell had already given much of BC to China. Campbell is also Harper's favorite henchman. Harper rewarded Campbell very, very nicely. Harper nearly burst into tears, when Campbell was forced to resign.

Harper's sellout of Canada to Communist China, began way back in BC, during Campbell's reign of terror.

Christy the ditz, running this province? The hell she is. Her government practices, are identical to Harper's. Christy prorogued Legislature, Harper prorogued Parliament, at nearly the same time. Her lying TV ads. Harper's lying economic and job action plans? Same as Christy's. They have none.

There are thousands of Chinese, being brought over here, to take the BC mine jobs. They are being trained for the oil patch as well. China is also bringing over their Engineers.

The Chinese also want, the timber and the mines on Vancouver island. I believe, China is taking BC's NG too. Petro China put in a bid, to help build the Enbridge pipeline.

Harper is mulling China a massive resource project, in our High Arctic. Harper has already given the key to China, for the tar sands.

Harper is even selling our Canadian farms to Communist China. Seems China has polluted much of their own farmland and 40% of their water. Dead pigs come floating down China's rivers. China will take our food crops, to feed the thousands here, and back in China.

Harper signed a deal with, the Communist China Army. Harper is gutting our military.

This is what I gathered from, all over the net. I went looking because? There is a Chinese buying up apartment blocks and fixing them up for, the thousands of Chinese coming over here, to take our jobs. Time will tell I guess.

Elwood said...

Grant. Again. You said it yourself. Excellent analysis. Without you, no one would know what really is going on. Looks like many are now bailing from Chrispy Chrunch's LNG pipe dream. She can tell lies for only so long before this fantasy finally becomes unraveled.

And yes, the Grade B Movie that passes for BC's MSM. They would all fail a grade 2 communications course.

Make sure that you pass your articles on through Twitter, MSM comment sections, etc. so people can really see what is going on.

I pass along all of your articles to everyone in my bailiwick myself. You have already made a major impression upon many!!