Monday, March 3, 2014

Christy Clark`s LNG Super-Power Dreams Dashed(Mainstrean media offers stale leftovers edition)

Nothing to see here folks, move along, an article in the Globe n Mail on LNG..

Particularly on not if Japan restarts their nuclear plants but when, and the collapse of the North American/Asian price differential, already in freefall..

It`s a fairly good read,

The writer is basically saying that LNG demand will crash, that the anticipated price differential gravy is gone because Japan is restarting their nuclear facilities, restarting their nuclear facilities or a Japanese economic death, can`t compete, a matter of national Japanese interest....Japan must restart their nuclear plants or become completely uncompetitive in a world market..


I`m not cutting n pasting from the above linked article, this blog, this writer(Grant G) has been bang on the money, ahead of the curve, been calling the LNG cards ahead of the pack..Grant G has been making the mainstream media look like children in a Man`s world when it comes to LNG.

I`ve taken sass from Schreck, sass from the BC Liberals, and been given no respect or even the tiniest bit of recognition for any of my posts by a lazy, cowardice B.C. mainstream media, a group of rat-bastards whose LNG articles can`t hold a candle to mine..

Andrew Weaver expressed respect and acknowledged The Straight Goods work.

Rafe Mair too...

 Those are two well-educated thinking men...

Not a single word of praise from a BC Liberal bootlicking media...nothing but stale LNG articles, uninformed cheap copies not worth the ink or the 5 minutes their dull lazy writers spent cobbling their words together..

You can waste time reading the Globe n Mail piece above or read the original insights here, from way in the past..

Those above links are just a small sample of The Straight Goods LNG articles..

Now, maybe now the mainstream media or official opposition will hire an accountant to cut through the numbers, and maybe then they will realize Christy Clark and the BC Liberal`s LNG revenue numbers will never add up with the proposed taxation framework rate, revenues will never come close, never!...and that the job numbers are exaggerated by a factor of 5 to 10. fold

Lastly...Hugh, Elwood, Istvan, Jon Ghun and thousands of loyal readers ......Thanks for being there, and thanks to a very small group of bloggers who acknowledged The Straight Goods..

and to the rest...Go shove it up your educated asses, go pat yourselves on the back for your pathetic group thinking, cowards, bleating gutless cowards possessing no balls or conscience to admit when your wrong..

The Straight Goods

Cheers Eyes Wide Open


Elwood said...

Grant, you are so well versed and knowledgeable on all of your topics, it puts the MSM to shame.

Even your financial analysis of LNG taxation should have been on the front page of the Vancouver Sun!

You are allowed to toot your horn. :-)

Grant G said...

Thanks Elwood..

It`s not about tooting a horn, it`s about waking up the media, how much more evidence do they need?

British Columbians were old a bill of goods, sold snake oil elixir..

300 members of BC Liberal Government PAB..

Michael Smyth, Vaughn Palmer, Fletcher, Bill Good, Sean Leslie, Les Leyne, not one honest column on LNG between the bunch of them.

Even if we get 1..2 LNG plants the jobs aren`t there and the money is puny compared with the promises.

They are media club members, they pat each other on the back, no one allowed in unless you kiss ass and give up your ethics.

Thanks again Elwood..

Before of cheap LNG articles wrapped in sheepskin.


Grant G said...

Oops..that last line was meant to be..

Beware of cheap LNG articles wrapped in sheepskin.

Jon Ghun said...

It's a fact and I attest to it: You called this LNG fantasy for what it is way before anyone else could even imagine what sort of smoky lies they were blowin' up our arses.

You've worked hard on this issue and now deserve the credit for moving people towards the truth of the matter, excluding the brethren of the bought/sold media corps(e) of course.

I also believe that people like David Hughes, Ben Parfitt, and Erik Anderson, as well as the editors at Common Sense Canadian, and Pawel Mirski and Len Coad at The Centre for Natural Resource Poilicy, are all in complete agreement with what you've written, no doubt after having come round here and taken much inspiration from your work.

Good on you, bro.

Now in a related matter, notice how the sun is giving stenographic space to the following story, minus every single issue raised around here for more than a year now:

"Leading LNG proponent files B.C. application for $11-billion project


Lelu Island, near Port Edward, B.C., is the site for a proposed $11-billion Pacific Northwest LNG plant.

Pacific NorthWest LNG has filed its project application with British Columbian and Canadian environmental assessment agencies, a critical step in the environmental review of the $11-billion project.

Led by Malaysian state-controlled Petronas, the project is among a slate of at least 10 liquefied natural gas proposals in B.C. that have come forward in the past two years.

Once the Pacific NorthWest LNG application is
accepted by the provincial agency, the clock starts ticking on a 180-day review, which is expected to include public meetings on the project.

Petronas wants to make a final investment decision by the end of the year.
Feedback during the review will be sought from the public and First Nations.

There is a similar process at the federal level.

Pacific NorthWest LNG president Greg Kist called the filing of the project application a “significant milestone” in the life of the project.
“This marks a renewed round of consultation and feedback from all interested parties on our proposal and I encourage participation in this rigorous environmental review,” he said in a statement.

Concerns raised by area residents and by environmental groups include potential harm to the Skeena River Estuary because of its importance to salmon, increased greenhouse gas emissions, air pollution and cumulative effects of other LNG projects.

Kist said the project has already been changed because of feedback with the public.
Among the changes are a 30-metre tree and vegetation buffer around most of Lelu Island where the proposed project will be built, and changing the location of the main flare stack to decrease the visual impact for residents in the adjacent community of Port Edward.

Just for the Record Pt.1 said...

To be fair to Gordon Hoekstra, he did also get the following piece published at the sun on/about February 25, 2014.

In it, there is the slightest hint of some of the real issues involved in exporting LNG from BC. The key concern is that these big state enterprises are going to push for the best deal and cut throats, or they're going to walk, which will leave coleman/clarke with the choice of either selling out the province or having to admit failure.

Just for the Record Pt.2 said...

Anyway, here's as much of the truth as the sold-out media corps(e) can afford to fess up to a good year after the matter began:

"Energy companies balking at level of LNG taxation in B.C."

by Gordon Hoekstra, the sun. Feb. 25, 2014

'There are cracks beginning to show in the B.C. government’s strategy to reap benefits through a new tax on a nascent liquefied natural gas export industry.

Global energy heavyweights with leading LNG proposals say the tax could make the province uncompetitive.

Premier Christy Clark’s government revealed last week it wants to institute a seven per cent tax on income from facilities that produce LNG after capital costs are recovered.

Early estimates provided by the province show that eventually the tax could pull in hundreds of millions of dollars per plant for the province.

But Shell Canada says it’s concerned that seven per cent is too high.

"We need something that’s globally competitive if we, in British Columbia, are going to build an LNG industry," said Shell Canada spokesman David Williams.

Shell Canada has proposed a $12-billion plant in Kitimat, in partnership with gas-buyers PetroChina, Korea Gas and Mitsubishi. Their project has export approval with the National Energy Board, and is working through federal and provincial environmental assessments.

The premier is banking on five plants being built to support 75,000 jobs and help fuel a $100-billion prosperity fund, but no companies have made final investment decisions yet.

Petronas, another leading LNG proponent, is concerned the LNG tax will add to an already large tax basket in B.C., which includes a unique carbon tax.

Just for the Record Pt.3 said...

And the other half:

"The Malaysian state-controlled company warns that clarity is needed on the LNG tax by the middle of this year if a hoped-for investment decision on its $11-billion Pacific Northwest LNG project in Prince Rupert is going to be made before the end of 2014. Japan Petroleum Exploration owns a 10 per cent stake of the Prince Rupert project.

The province said legislation for the LNG tax will be introduced in the fall, but the detailed tax code will not be ready until spring of 2015.

"What we have an issue with, and a challenge with, is the fact there are so many different taxes. So, now the LNG tax is another tax on top of that," said Greg Kist, president of Pacific Northwest LNG.

"When you look at the entire tax basket, it’s very large," said Kist.

Industry insiders also say the B.C. government is in danger of stopping an industry before it gets started with its LNG tax, pointing to export deals being inked in the U.S. South where they are well on the way to turning former import facilities into export facilities.

For example, Cheniere Energy’s Sabine Pass project in Louisiana is expected to start shipping in 2016.

Estimates crunched by Calgary-based Ziff Energy show the LNG tax could amount to 50 cents per million British thermal units (mbtu).

Royalties on natural gas production in B.C. are about 75 cents to $1 per mbtu right now, which means the 50 cents from an LNG tax is significant, said Ed Kallio, director of gas consulting for Ziff Energy.

"That’s the fear, that the golden goose will still born. You won’t even get these projects built," he said.

Some companies are already on the ground in northwest B.C., including Petronas and Shell Canada, spending millions on site locations, and more money on engineering feasibility studies.

But Kallio says companies can easily walk away from their investments if the cost-structure in B.C. cannot compete with others in the world.

B.C. Natural Gas Minister Rich Coleman has a different take on the status and acceptance of the LNG tax.

He says he is confident enough information about the new LNG tax will be known this year for companies to make final investment decisions.

"(Companies) know where we are headed and they are comfortable with it," he said.

However, Coleman acknowledged the tax file was complicated, and there were other elements to hammer out, including the level of royalty payments needed to develop gas basins in northeast B.C.

Grant G said...

Thanks Mr. Ghun..That`s an impressive group, especially David Hughes..

PETRONAS is bad news, a state government, all PETRONAS`s partners must take LNG gas, meaning PETRONAS isn`t looking for customers..

PETRONAS own s the lease land(they bought it from Progress energy)

Petronas will be selling LNG to themselves, how does BC force PETRONAS to sell gas to the Malaysian people for a high price?

Good luck collecting any money from the Malaysian government..

Did you ever wonder why all the Australian LNG plants went 40%...60%, or in the case of Chevron`s Gorgon plant, 160% over budget?

Easy answer, Australia allows these companies to write off build costs over 7 years...

Why write off a $11 billion dollar plant when the tax paying public can write off a $35 billion dollar operation..

A wink, nod, shuffle arrangement...

LNG company pays contractor X $100 million for specified work...$40 million is kicked back to the LNG company..

Hence build budget blowouts..All by design.

Then these companies get paid back the 10`s of billions, and then, once they are whole plus does any real taxation kick in..

That`s why Western Australia Government is racking billions in debt..

One big ponzi scheme. detailed here.

PETRONAS shenanigans here, in this post.

Thanks Mr. Ghun..

Vancouver Sun has press-released the PETRONAS scheme at least 10 times over the last 18 months, nothing has changed.


Jon Ghun said...

Ya', I'm sure you're right--we'll see little or no royalty capture on the LNG; and they'll blow out the build costs to use as write downs against taxes owing. Hell, we'll no doubt end up subsidizing their efforts handsomely by availing them of free water wastage

In the end, they're going to sell us out in exchange for a few pieces of silver slipped into their own pockets.

I know I've said it before, but it bears repeating: We're up against the $indicate. They took over the media corps(e); captured the political parties; run the governments; and pull the strings in the judiciary when needs be. They don't have any regard for the province, the country or any of the people who live in it.

Our best chance is to fight an asymmetrical information war and try to win enough minds back to objective awareness of what's actually going down, hopefully before it's too late to right the ship. On this score, you are to be commended greatly for what you do round here.

Is one really a good and honest person by keeping silent about what they know is wrong? How do crimes of omission stack up against crimes of commission? Isn't it true that a coward dies a thousand deaths but the brave man dies but once?

I am hard pressed to find any in positions of authority, or public prominence with the stones to tell the truth. Either they didn't get into position to begin with unless they sacrificed all association with it, or they live in fear of the loss of their position or employment.

At some point, every single one of us has to make a decision. Either we compromise whatever we might believe, in order to survive and get by in this world, or one throws themselves upon the embrace of the invisible, trusting that they will be fed and nourished by hidden springs which then allow the truth to will out for the best.

I know which choice I'm making.


macadavy said...

You are indeed to be commended for your ongoing coverage of the BC Liberals LNG pipe dream. The mainstream media have failed us completely on this issue as they have so many others; they seem content to regurgitate what government spoon feeds them with no research or insight.
I thought you might be interested in looking at some of the work Bernard von Schulmann has been doing recently at BC Iconoclast. He's a professional in the field of project development as well as a political pundit. In his opinion the LNG dream is a PR shell game. Check him out here:
And keep up the good work! :)

Hugh said...

Fracking natural gas in BC uses energy.

Transporting that gas through pipelines to Pr. Rupert would use more energy.

Converting that natural gas to LNG uses lots of energy.

Shipping the LNG 7,000 km to Asia uses energy.

Exporting LNG uses tons of energy every step of the way. Makes no sense.

Anonymous said...

Well said, again.

Anonymous said...

Public enemy # 1.....the mainstream media, "the messengers", not just not messaging but lying their faces off. We will continue to take them down.

Great work Grant, the best.


Grant G said...

Thanks Jean...I read Bernard Schulmaan`s last LNG article on potential LNG jobs..

Bernards slaps back slightly, however Bernard still stretches the employment numbers to unreasonable levels...

Rich Coleman must be counting employment numbers in Asia, in Swiss banks...

The media`s job is to protect the public from financial fraud, on government corruption..

Not in BC..Here the media get jobs in government for their wives and siblings, media buys stock options in Plutonic power and Tesako mine..

Instead of informing the public they are cashing in on the crimes..

Ask Bill Good about his Tesako stock shares.

Ask our legislative journalists about their holdings of plutonic power shares...

Ash Sean Leslie and Stephen Smart about ethics in journalism..

Jean is correct, the enemy is on every newscast and front and center on newspaper headlines, names like Keith Baldrey..

Tom fletcher, Bill Good, Chris Galius, Pamela Martin..

Nothing but common confidence men and woman..

Jon Ghun..You too are correct..

Those above mentioned made a choice, they looked in the mirror and said I don`t care, let someone else be honest, I want my rewards and I don`t care who gets hurt in the process!