Friday, October 26, 2018

Donald J Trump......Coward in Chief

Donald J Trump......Coward in Chief

Written by grant G

        It's gone almost as predicted in a post I wrote November 8th, 2016..the night the US elected Donald J Trump president.

here's the last few paragraphs in a post titled....

Donald Trump, King Lizard


I feel very sad for the 50% of Americans who voted for Hillary, I feel just as bad for the 50% that voted for Trump because they believed he was their savior, the swamp drainer, wall builder and immigrant deporter...

Mark my wall will be built, the swamp won't be drained and the immigrants won't be deported, they'll be jailed..

The financial elites of Wallstreet will continue to run the world and run Washington...

I blame you Hillary Clinton, I blame you Democratic party, I blame the Wallstreet juggernaut and I don't listen to self-absorbed consolation speeches...

Enjoy the next 4 years listening to and watching King Lizard build the biggest swamp America has ever seen...


Pretty well gone to script, man, i'll tell you, ......Who is Donald trump...he's a coward and habitual liar....

Yesterday, October 26/2018 ... the day before Cesar Sayoc was captured and arrested as the domestic terrorist mail bomber Donald Trump sent his secretary of Homeland Security Kirstjen Nielsen out to his favorite propaganda television station Fox News to change the channel from the bomber story...Kirstjen  Nielsen in a Fox exclusive to pump up the "wall"..pump up the immigration strawman issue and change the conversation from bombs sent to Trump's espoused targets to Border security... ..


Think about that for a moment.., a dozen bombs have been sent to ex presidents, Democrats, movie stars, CNN and others...all targets Trump has denigrated.....think about it...two ex-presidents(Clinton and Obama) targeted and Kirstjen Nielsen, Homeland Security secretary, ..her number one job is to protect America from terrorism both domestic and foreign.... and she goes on Fox news not to talk about the mail bomber but to fear-monger about a slow-moving caravan full of woman, mothers, daughters, many little children and job wanting men that's over a 1000 miles away from the southern US border..

Donald Trump proudly asserts the the US Military has never been stronger, brags about the over $700 billion dollar one year budget he approved..


Standing with Easter Bunny, Trump boasts of military, economy, 'tip-top' White House

"President Trump taught the kids at the annual White House Easter Egg Roll a really big number on Monday — $700 billion.
"Just think of $700 billion dollars because that's all going into our military this year," Trump said while addressing kids and their parents at the annual event on the White House lawn.
Trump spoke to the crowd from the Truman balcony flanked by First Lady Melania Trump and the White House Easter Bunny with its perpetually shocked face.
"Our military is now at a level, will soon be at a level, that it's never been before. ... The funding of our military is so important and so many military people are with us today."


There is so much to say....I barely have words....Donald Trump next week is sending a 1000 military personnel armed to the teeth to the southern border in preparation of the arrival of a caravan full of unarmed mostly woman and children....the Caravan is still a month away..

Think about that, .....America, they possess enough nuclear weapons to burn the earth to a crisp, they possess smart bombs, attack drones, spy satellites, they have the most extensive network of espionage and intelligence gathering... ..FBI/CIA/informatives, Homeland security...American military, American intelligence can freely and easily place personnel smack dab in the middle of the moving 25 miles a day caravan ...and Donald J trump is so scared that he's sending the military?..

Trump is a coward, he was to bought and owned to face-off against Vladimir Putin, ...Trump was too awestruck to do anything but smile at Kim Jung UN......Trump has too many personal business interests to play hardball with Saudi Arabia.....

but .....Big Brave Donald J Trump suddenly found his military spine and who is the target....a few thousand desperate people who are wanting to come to America for a chance....for a chance at  what...For a chance to get one of the millions of jobs Donald J Trump claimed need workers that aren't presently available.......

That's right folks...Words have consequences and over the last month and a half trump has told the world that "millions of American jobs are in need of workers"..and considering the US is directly responsible for much of the hardships Hondurans face today..

Donald J Trump himself was the genesis of the migrant caravan...

These poor scared desperate people fleeing their home countries, for fear of death, fear of gangs, fear of their own government they risked everything and are attempting to journey to the once bright light known as United States of America....

Big tough Donald Trump sending the military to the border next week to wait another three weeks for the arrival of the desperate..

And tonight in Charlotte North Carolina....Donald Trump, at his rally, when talking about immigration and the caravan told his supporters that a really big surprise was coming to the border next week...Trump was referring to sending the military to their southern border..and he is...


Many Gang Members and some very bad people are mixed into the Caravan heading to our Southern Border. Please go back, you will not be admitted into the United States unless you go through the legal process. This is an invasion of our Country and our Military is waiting for you!


Well America....What have you become, you elected a buffoon, not the first time you elected stupid but never before, at least in my memory where you elected the biggest coward....

Donald J Trump.....The president who needs to use world's most lethal military machine to protect him and the equally cowardly GOP from a few woman, children and work wanting men...

It doesn't get any lower than that how the mighty have fallen

The Straight goods

Cheers Eyes Wide Open

Written by Grant G

Friday, October 12, 2018

LNG Canada's NOT $40 BILLION DOLLAR INVESTMENT IN B.C......The Real number is $9 billion dollars

Kogas, one of the 5 corporations involved in LNG Canada's Kitimat project....

Kogas has a 5% stake in the project......Kogas revealed today how much their 5% stake is going to cost them..

The number is.....$660 million dollars....that's 5% of the terminal cost....

5%  is 1/20th of 100%......

5%($660 million) times 20 equals......

$13.2 Billion dollars....


SEOUL, Oct 12 (Reuters) - South Korea’s state-run Korea Gas Corp (KOGAS) will import 700,000 tonnes per year of liquefied natural gas (LNG) from the LNG Canada project, led by Royal Dutch Shell, from around 2024 over 40 years, its vice president said on Friday.
“We will import 700,000 tonnes annually from around 2024 for 40 years and the volume is based on our share of the project,” Lim Jong-kook, vice president of KOGAS, told Reuters on the sidelines of a forum in Seoul.
KOGAS, which holds a 5 percent share of the project, said last week it would invest 749.86 billion won ($660.06 million) in the project.
Lim added the deal has destination flexibility and would allow KOGAS to sell excess volumes to third parties as the company is one of the partners of the project.


To remind was already reported that the true cost of the LNG Canada LNG plant in Kitimat is....$14 billion..
"Royal Dutch Shell said it would export LNG from Western Canada by 2025 after approving a $14 billion project"

If the LNG Canada project was as advertised, "a $40 billion dollar investment in B.C."  Kogas' 5% stake should be $2 billion's not even $1 billion, it's $660 million....even if one subtracts the $6 billion dollar pipeline from the $40 billion dollar total...that leaves $34 billion dollars...Kogas'  5% share of $34 billion would be $1.7 isn't..once again, Kogas' 5% share is $660 million...that confirms what my last post said..Kitimat LNG terminal is under $14 billion dollars...and yes, once again, $11 billion of that $14 billion is being spent in China and S. Korea..

 John Horgan and Trudeau are lying bigtime about this investment value to Canada...$14 billion for the terminal...$11 billion of that cost is to be spent in China and S Korea..
Total investment for the LNG terminal in Kitimat is around $3 billion dollar(Labour)...
The pipeline is a separate entity being built and managed by The TransCanada Corporation...The pipeline is estimated at $6 much of that to be spent in Canada is unknown at this depends where TransCanada sources the pipes...early indications are that the pipes will come from China..
Canada and British Columbia get the privilege of writing off against Canadian taxes all that money spent in Asia..
Need more....LNG Canada is rumored to be bringing in 1500 TFWs.. this project Canada's biggest ever private investment?...not even close, not even BC's largest infrastructure investment...
Site C will cost a minimum of $12 billion, maybe as high as $15 billion after all the geo-technical issues are dealt with..
Site C blows LNG Canada away in $dollars spent in B.C. and Canada..
Even if pipes for TransCanada are sourced in investment in Canada from LNG terminal and pipeline is, at most....$9 billion dollars..

Don't get me wrong people..those are still big numbers...$3 billion for terminal and $6 billion for pipeline(if pipes are sourced in Canada)'s $31 billion dollars shy of $40 billion.....almost a 400% exaggeration ....!!!
The time has come for Trudeau and John Horgan to stop wildly fudging the numbers upwards..
The Straight Goods
Cheers Eyes Wide Open

Written by Grant G

Wednesday, October 3, 2018

LNG Canada....Facts Versus Fiction

Written by Grant G

Time for a Straight Goods look at the LNG Canada deal....

Justin Trudeau and the stranger known as John Horgan were quick to plant their faces in as many smiling photo-ops possible...all taking credit for "Canada's largest ever private sector investment" ..

Funny stuff indeed....The project itself got federal approval many years ago under Stephen Harper, the project received taxpayers gifts and provincial approvals under Christy Clark's BC Liberals...

Johnny come lately Horgan was actually opposed to Christy Claek's LNG taxation framework, he and his entire flock of opposition MLAs came out screaming in disgust...John Horgan called it a "Generational Sellout"


LNG deal is bad for B.C., says NDP leader John Horgan

The NDP will vote against legislation introduced July 13 that paves the way for a proposed $45 billion liquefied natural gas project in...

The NDP will vote against legislation introduced July 13that paves the way for a proposed $45 billion liquefied natural gas project in Northern British Columbia, party leader John Horgan said.
The Liberals failed to secure job guarantees, protect the environment or get a fair return for the people of B.C., according to Horgan.
“A 25-year deal? Who does that? Who does that in the 21st century?” he said.


My oh my...taking credit, come 40 years from now nobody will be wanting to take credit for it..

As you know...John Horgan campaigned against Site C, called it unneeded power...Horgan claimed we could create far more jobs with small scale detachable power....many agree, including myself..

Horgan won the election and something happened, something changed and all of a sudden, with no business case, no customer Horgan approves the already started Site C dam...and added $2 billion dollars to it's budget bringing the cost to in excess of $10 billion..Site C is experiencing many geo-technical issues, it's two years behind schedule and the budget for Site C will be revised upwards..We may end up closer to $15 billion by the time its built..

So why did Horgan approve Site C....the same reason Christy Clark and the BC Liberals did...Site C and the cost to build it, being paid for by residential BC Hydro ratepayers is and always was carrot power to entice LNG....let's go back in time to early days with LNG Canada....


BC Hydro, LNG Canada ink deal to power proposed Kitimat LNG facility


BC Hydro and LNG Canada have reached an agreement for the provincial utility to supply power for a proposed liquefied natural gas export facility in Kitimat.
The deal is the first to be signed under a new price regime announced on Tuesday. It highlights the question of where the electricity for the LNG industry will come from if even some of the facilities proposed in the province go ahead.
The arrangement means BC Hydro would supply 20 per cent of the power that LNG Canada, a Shell Canada-led joint venture, would need to run an export facility in Kitimat.
That power, along with electricity required for the $400-million expansion of the existing FortisBC LNG facility in Delta, would come close to the total set aside for LNG facilities in BC Hydro's most recent plan.

When the electricity required for those two projects is taken into account, "we are up very, very close to what BC Hydro forecast for LNG demand in the Integrated Resource Plan that we announced last fall," provincial Energy Minister Bill Bennett said on Tuesday in a conference call.

Potential electricity demand would depend on the location of new facilities, Mr. Coleman added. LNG plants in Kitimat, for example, could connect to the provincial electricity grid, while plants in other places – such as Prince Rupert – are expected to depend more on natural gas.

B.C. announced its electricity rules for the LNG sector as it is mulling whether to build Site C, a Peace River dam that would produce about 5,100 gigawatt hours of electricity a year.

Opponents of that project, which is expected to cost about $7.9-billion, have questioned whether it is needed.

Interesting don't you think, that article is dated November wasn't long after that when Christy Clark rammed the LNG carrot power boondoggle dam through....notice the price tag for Site C in 2014....$7.9 we are in 2018 and the latest but not last revised Site C budget has ballooned to $10.7 billion...

Horgan crowing about the deal with LNG's the same deal that was hatched 5 years..BC Hydro to supply LNG Canada 20% of their power...the only difference is, Horgan slashed the hydro rate for LNG Canada in half..he exempted them from PST and carbon taxes....all total Horgan added $6 billion in subsidies, and that not counting the over $3 billion in accumulated drill credits...LNG Canada can deduct that from any monies they may one day owe B.C..

Taking credit for a "$40 billion dollar" investment....really..LNG Canada's 2013 LNG project proposal for Kitimat was a 26 megatonne per year export facility...

$40 billion for terminal(26mt)...pipeline and upstream expenses..

Remember Petronas...their Lelu Island LNG proposal..They used the figure "a $37 billion dollar investment".....that number was false....the terminal cost was $11.4 billion, of which $8 billion was to be spent in Asia...$6 billion for the pipeline to supply where was other $20 billion...who knows...Petronas did buy Progress Energy for $6 billion..but that wasn't investment, that was merely paying shareholder...even counting upstream activities, nowhere could that $37 billion dollar figure could be squared..

I've followed LNG Canada over the last few year..they have talked up how they sharpened their pencils and brought the project costs down..a less expensive pipeline(That they aren't financing, TransCanada Pipeline is)....LNG terminal construction costs have fallen over those years too..more modular, more streamlined...

LNG Canada got Justin Trudeau to wave Asian steel import duties(even before the Appeals court rendered a decision, making the court hearing redundant)....those import duties were in place when LNG Canada in 2013 pitched their $40 billion dollar project..

That tariff removal will save LNG Canada a $1 billion dollars..

LNG Canada's 2013 $40 billion dollar proposal was for a 26 megatonne facility...LNG Canada is not building a 26 megatonne facility...they're building a 12 to 14 megatonne facility...

So riddle me this Batman.....with all the belt tightening and pencil sharpening LNG Canada did...with tariff relief...with cheaper LNG modules, with PST exemptions.....with building a facility that is only half the capacity of the original $40 billion dollar 26 megatonne facility, a 2 train plant rather than a 4 train LNG plant how come....

How come Trudeau..Horgan and Postmedia and industry spindoctors are still using the $40 billion dollar number?

There's an easy answer...Politicians want the big number bandied does industry..Postmedia refuses to report accurate details, not that they don't have the ability, its because they are corporate controlled cheerleaders....same old same old corporate spindoctoring..

The real value of this LNG Canada project is about $20 billion..

The terminal itself..the 14 megatonne terminal is pegged at..

and I quote...


"Royal Dutch Shell said it would export LNG from Western Canada by 2025 after approving a $14 billion project"


LNG Canada's LNG terminal is about the same capacity as what Petronas was proposing...Petronas's terminal was pegged at $11.4 billion....LNG canada's terminal is pegged at $14 billion..and once again...140 modules to be barged to BC from Asia...of that $14 billion..about $10 billion of that will spent in Asia..but unlike Asia...they don't have to write-off that money..we do..

So...LNG Canada's project is not $40's $14 billion...pipeline is to cost $6.7 billion....add in upstream activities and you reach the $20 billion mark...not $40 billion..

Why is Trudeau and Horgan allowing this fictional number to waft's all about getting good press..Trudeau is begging for a win....As for Horgan...I don't know who he is anymore..

John Horgan stated recently in a interview..this is utter it is..


B.C. premier John Horgan says LNG projects in the province were never likely to succeed under the previous B.C. Liberal government.

“The B.C. Liberals kept piling on costs onto an industry that had not yet even been established in British Columbia, and that scared away some investors as international prices came down,” said Horgan.
He said that after the election the NDP government was presented with a list of challenges the LNG sector was experiencing in the province with respect to its ability to compete against global LNG producers.
The sector expressed its concern that the program the Liberal government put in place would make doing business in the province too costly.
“We have dismantled that package and put forward a new package that’s hopefully going to meet the industry’s competitive needs,” said Horgan.
In March Horgan announced that if LNG Canada decided to go ahead with the project the provincial government would be scrapping the LNG tax and offering LNG Canada exemption on provincial sales tax for its construction.
He also announced that B.C. Hydro would provide the industry with power at standard industrial rates.
The catch was that in order to take advantage of the concessions, which would see LNG Canada realize savings of $6 billion


Oh come on Horgan.....rewriting history or has Dementia started to creep in..

I find some other $$$ details quite interesting too...

LNG Canada's made up of five mega-corporations.. 

Shell.PETRONAS, PetroChina, Mitsubishi Corporation and KOGAS – the joint venture 

They have NO LONGTERM gas buyers....and that is strange, or perhaps not because it doesn't matter what the world price of LNG rises to..... B.C. will receive only a set fact Horgan has stated that BC will receive $22 billion over 40 years???? how can that be?..that means it doesn't matter what the world price may be...except...if there is another LNG glut(there already is one)..the price may fall below what it costs the the joint venture to produce the LNG..thus creating tax writeoffs...not to mention the unknown value of deep-well-shallow-well provincial drilling credits...

How can Horgan come to such a hard firm number...including this...something Vaughn Palmer retweeted...


Revised estimates from gov't on LNG revenue, relief. LNG Canada projected to bring in $23B direct revenue over 40 years, up from $22B in March estimate. Relief valued at $5.35B, down from $6B estimate earlier.


How can John Horgan say with such certainty how much BC will receive decades after Horgan is gone.....clearly the world price doesn't matter..he must be counting on pure-raw-royalties for the set yearly volume(14 megatonnes per year)...

In other words...that number is static..won't change, but what does change, is how LNG companies amass tax writeoffs...claim losses, writeoff interest payments on loaned monies for the project build..just ask Australia how that works..


Australia's $20 Billion Missed Opportunity Shows Tax Problem

Australia is on track to match Qatar as the world’s biggest liquefied natural gas exporter next year. The boost to the budget bottom line? Virtually nil.
While the Persian Gulf nation is forecast to rake in as much as A$26.6 billion ($20.1 billion) in fiscal 2020 from taxes on the fuel, Australia is set to reap a paltry A$800 million, according to analysis by the Tax Justice Network’s Australian office.
Australia’s Petroleum Resource Rent Tax levies 40 percent on profits after company tax has been paid, a system that works pretty well for oil projects but is a poor fit for LNG projects. That’s because an oil venture can be cash positive within a few years of production, while LNG requires significantly more capital expenditure, prolonging the time before it generates enough cash to pay tax, a government report found.
The figures "are an indication the fiscal regime for Australia’s LNG sector is broken," said Juan Carlos Boue, who made a submission to Australia’s inquiry on tax avoidance while working as an oil industry consultant at the Oxford Institute for Energy Studies. "The incentives are simply too excessive."
Australia is set to post its 10th straight budget deficit, even as receipts get a boost from higher commodity prices and strong employment growth. Treasurer Scott Morrison is tipped to flag personal cuts in the May 8 budget -- about a year out from a general election -- and should still be able to project a return to surplus by 2021. He announced the dumping of a planned tax hike on Thursday following a A$4.8 billion windfall in tax receipts


Need more....Chevron and taxation fraud....LNG...the bigger fraud..


Chevron accused of scam against Australian taxpayers

Oil giant and Gorgon project developer Chevron faces accusations of running an aggressive tax avoidance scheme which derives profits from the Australian Tax Office.
SMH reported the findings of a report commissioned by unions in the United States, which shows the company created artificial interest payments against which it could exploit tax relief benefits.
The report described the Chevron scheme as “a sham” which “actually profited from the act of borrowing money at the expense of the Australian taxpayers”.

It goes beyond any commercial objective of providing debt finance leverage to the point where the value of its tax benefits from interest deductions exceeds the actual before-tax cost of the loan", the report said.

SMH said the report was yet been made public.

With the ATO(Australia`s version of the CRA) currently pursuing Chevron in the Federal Court for $322 million including penalties, it is alleged the company designed a corporate structure in order to avoid $258 million in taxes from 2004 to 2008.

The scheme involved setting up a US subsidiary of Chevron Australia Holdings Pty Ltd (CAHPL) called Chevron Funding Corporation (CFC), which was established in the US tax-haven state of Delaware.

CFC borrowed US$2.45 billion in several tranches at an initial interest rate of 1.2 per cent and then loaned it to an Australian entity at 9 per cent interest, which it is alleged resulted in $862 million in tax free dividends over five years.

The union report states the interest on those loans “ranged from 8.8 per cent to 10.5 per cent", and that Chevron claimed tax deductions on those interest repayments to the rate of 30 per cent, exempt from withholding tax.

It has also been suggested that the ATO’s court case, in focusing on the margins above base interest rate as being not at arm’s length, has failed to fully tackle the broader issue of tax avoidance intended to make profits at the expense of the taxpayer.

A source said Chevron has recently opted to avoid making media statements


need more...this is where British Columbia will fall to these corporate cons..


Multinational gas companies will soon sell an annual $50 billion worth of Australian liquefied natural gas to foreign markets but the nation will have to wait more than a decade for any revenue boost and some projects will never pay a cent in tax for the resources they extract.

A report prepared for the Turnbull government into the petroleum resource rent tax has confirmed fears, first revealed by Fairfax Media in 2015, that revenue from offshore gas will continue to flatline until at least 2027....

Chevron predicts it will start paying the petroleum resource rent tax some time between 2029 and 2035


Anyway...BC and or Canada didn't win a LNG project...we bought it..

Secondly...any BC climate reduction targets....kiss them goodbye...and yes, even though LNG Canada will increase BC's emissions by 17%, and they are exempt...we the people will be paying more and more carbon tax even as our emissions rise....Horgan blew he's gonna charge the people more money on carbon tax while any attempt to reduce emissions with a LNG is futile..pissing in the wind...


We here at The Straight Goods know...

LNG is worse than coal....

New Horgan government=The same as the old BC Liberal government...

Spin Johnny's a $20 billion dollar project, of which $10 billion being spent in Asia....not a $40 billion dollar spin Johnny spin project..

The Straight Goods

Cheers Eyes Wide Open