Sunday, December 13, 2015

Distortions and half-truths but mostly outright lies

February 13, 2013, three months before her first general election as Premier, Christy Clark announced:
...the new British Columbia Prosperity Fund to ensure communities, First Nations and all British Columbians benefit from the development of a new liquefied natural gas (LNG) industry...

LNG development is poised to trigger approximately $1 trillion in cumulative GDP within British Columbia over the next 30 years and that means more than $100 billion will flow directly to the Prosperity Fund.

Province wide, LNG is expected to create on average 39,000 annual direct, indirect and induced full-time jobs during a nine-year construction period. As well, there could be as many as 75,000 full-time jobs required once all LNG plants are in full operation...

Factsheet

...Projected total revenues to government are estimated between $130 billion and $260 billion over the next 30 years. In order to maximize the benefits of these developments to future generations of British Columbians, the provincial government is establishing a new British Columbia Prosperity Fund...
During the election campaign, Liberals promised that LNG revenues would not only ensure a debt free British Columbia but gas production would also fund essential spending for health care, education and social services. They claimed their plan demonstrated the superiority of BC Liberal financial management because, after almost 40 years, Alberta's Heritage Fund contained only $17 billion, a fund accumulation 1/10 or 1/20 the rate intended for B.C.

So that we don't forget this good news, Northern Insight will calculate the accrued income that is coming our way. It updates regularly.




First Pamela, we'd have to move to Norway.

Bringing us some of the news that's fit to print, and a little more, Dirk Meissner rewrote pre-election Liberal press releases for Postmedia, the company that chose to partner with Canada's resource industries and their favourite politicians.

B.C.’s LNG plans on same scale as oil sands: Clark, Dirk Meissner, December 13, 2012:
VICTORIA — Premier Christy Clark says her government’s plan to export liquefied natural gas to Asia is British Columbia’s economic equivalent to Alberta’s oilsands.

In a year-end interview with The Canadian Press, Clark said B.C.’s LNG development ambitions will transform the economy, but the province must act quickly before the opportunity evaporates like gas into the atmosphere.

Clark, who has spent the last year describing her “bold” and “audacious” plan to turn B.C. into Canada’s job-creation engine, said British Columbians will still be cashing in on the benefits of LNG exports 50 years from now.

“Think about it in these terms: what oil has been to Alberta since the 1970s-80s is what LNG is going to be for British Columbia, nothing less than that,” said Clark.

“Energy output from LNG will likely be as big as the total energy output today from the oilsands,” she said.

...[experts] are on board in describing the opportunity as monumental and one that should be fast tracked.

“This is huge,” said Ron Loberec, Deloitte’s Canadian resources spokesman. “It’s a no-brainer.
Now, almost three years later, the so-called experts are proven to be no-brainers. They were drawn willingly or stupidly into participating as partisans in the 2013 BC election. Not only has the province not moved forward on LNG, it's lost billions of revenues that used to flow from its gas fields. BC is not realizing additional revenues from natural gas despite returning billions of dollars to the industry through drilling and infrastructure subsidies. In fact, the province is no longer receiving material payments through royalties or the sale of petroleum and gas rights. According to the Finance Ministry, gas has reached the price point where royalty revenues are zero.




ADDENDUM:

An item, brought to my attention on Twitter, was published online by the Shaw family's CKNW. It demonstrated the station's continuing allegiance to the Liberal Party brand. Skepticism or critical analysis involving Asian LNG markets is not for the former top dog of BC broadcasting; their job is lay groundwork for the coming election.

Premier’s promised ‘Prosperity Fund’ to be tabled just in time for 2017 election, Shane Woodford, June 22, 2015:
A fund promising to cure all our financial woes promised by Premier Christy Clark in her election campaign two years ago will finally see the light of day just before the next provincial election.

...And while momentum has been made on her promised LNG industry there likely won’t be a single facility built by the time the 2017 campaign arrives.
Woodford might have noted the international consensus that LNG market conditions are oversupplied for at least the next decade but background information is seldom provided to stenographers.

I cannot resist expressing amusement over that final sentence in the NW article. Momentum, according to dictionaries of English, is about motion of a moving body or process that is becoming faster or stronger. By definition, the momentum of an airplane stops completely when it crashes to the ground. Similarly, movement, powered by natural gas, toward a debt-free province ends when the gas industry costs more tax revenue than it produces.

Recommend this post

10 comments:

  1. I once thought that you had to take hallucinogens to see a fifty foot crab walking down the highway... now It appears you just have to be delusional like CC and paid pals

    ReplyDelete
  2. On December 5 Tom Fletcher, listed as president of the BC Legislative Press Gallery, issued a very intelligent and accurate statement via Twitter regarding these figures.
    It read, “We’re covering up the drop in world prices for oil and coal too @unionwill. Bwahahaha @keithbaldrey."

    Pretty much sums up the depth and quality of the local pro pundits. Black Press management must be proud.

    ReplyDelete
  3. According to Christy Clark British Columbia has so much Natural Gas that it will generate a Billion Dollars from offshore buyers over thirty years and yet for the past 15 years the BC Liberals haven't provided, free of charge, that same abundance of Natural Gas to schools, hospitals, and other public facilities so that fuel money can be put towards the care of the public, not nickel and diming the consumers. The resources are ours, why are not use them in the here and now?

    ReplyDelete
  4. What an utterly sensible idea! Why didn't Chrispy think of that?
    I wonder how her natural gas powered ferries are coming along?
    Isn't it amazing how much we can accomplish when we work together!

    ReplyDelete
  5. Yes, but now that we have the new Paris accord for climate change, how will all of Christy's plans fit with that? Oh, it doesn't really matter does it. We don't have all those trillions of dollars so that means we don't have all that oil/gas and as usual the kids in B.C. still have the highest rate of child poverty in Canada. Nice going Christy.

    ReplyDelete
  6. Burning BC natural gas in BC is a no-go - BC Hydro is discouraged from using its Burrard Thermal gas-fired plant.

    But apparently it's ok to send BC natural gas, as LNG, to Asia, where it can be burned to generate electricity over there......

    ReplyDelete
  7. I agree with north van grumps above. The problem seems to be the "doctrine" of the BC liberal party and caucus. The savings of natural gas and developing home grown uses that would "save"
    the people of BC, money by using the gas here, would not give their handlers and party backers any form of profit. The BC liberals do not give a damn about the BC taxpayer or citizen, they are in this game of malfeasance for themselves and to make money for their supporters. The fix was in along time ago. The end of the game as far as the BC taxpayer is concerned, must result in prosecution of the alleged participants, and ultimately guilty being jailed.

    ReplyDelete
  8. There is an incredible amount of money to be had with this whole LNG plan. Unfortunately I feel it is Christy and her gang of friends, supporters and parasites that will make it through this shell game and they are just there to siphon off millions and millions while hanging BC with the billions. Financially we would be better off to just give her and her gang a billion to go away.
    Nice wind farm. The one that your brother will have?

    ReplyDelete
  9. "The end of the game as far as the BC taxpayer is concerned, must result in prosecution of the alleged participants, and ultimately guilty being jailed."

    Bullseye. All of the malfeasance discussd here needs to be construed by the general public as organized criminality (I think most here already do that) instead of merely ineptitude, partisanship, traditional cronyism, patronage, etc. That's the only hope. And it needs to begin with the opposition, unless they want to remove all doubt that they are complicit.

    ReplyDelete
  10. Michael Smyth asked Christy about the LNG thing in Sunday's Province: "When I asked Clark for an update on her LNG dream, she let out an audible sigh.

    'It’s become very unpredictable because the market is so unpredictable,' she said, referring to tumbling gas prices.

    'There’s nothing we can do about that. All you can do is try and do everything you can do.'"

    * * *

    "All you can do is try and do everything you can do." One of the great quotes of all time from our leader.

    http://www.theprovince.com/news/smyth+premier+clark+slams+trump+over+negative+politics/11583837/story.html

    ReplyDelete

COMMENTING

This is an archive only of items published before April 22, 2016. These and newer articles are available at:

https://in-sights.ca/

If you read an article at this blogger site, you can comment on it at the new site.

Note: Only a member of this blog may post a comment.