LMy in Bc = lol
Dream on christy. The ship has sailed, you blew it. Admit as much.

Should have read;
Lng in be = lol.

Oops bc

I am curious on how she blew it? Did you have a crystal ball?

Exxon announced earlier this month that they will make a $25 billion investment in West Coast Canada(WCC) LNG plant that will employ 6000 people during construction…repeat $25 billion. Keep up the good work Christy!!

Sparrow, and now with the price of oil being so low are they still going ahead? Any date as to start ? Also with the drop in the canadian dollar there will be a huge cost impact as well.

Christy who ?

Even though there’s been an inordinate amount of navel gazing, foot dragging and hand wringing, 2015 will be the critical year to determine if any of these proposed projects will come to fruition.

Sparrow. You neglected to state that Exxon has merely filed an environmental application.

Exxon states that if they go ahead with this $25 Billion project, construction would begin in two (2) years and it would be completed in 2024.

If you read Christys comments closely you will see that she is using political language to get people used to the idea that this LNG idea might not fly.

1. The script we thought it would go by, might turn out to be different.

2. The window of opportunity to get BC into the LNG business is not as wide open to-day as it was.

3. There are other players getting into the LNG business including the USA and Australia. (She fails to mention that Australia has three (3) operating LNG plants, and seven (7) plants under construction). Australia has been in the LNG business for many years, along with many other Countries.

I think they want to keep the hype going until after the next election.

P Val

Do you really think that one of the largest companies in the world bases its decisions on what conditions are this second, day, month or even year. They look at the big picture and are in for the long haul. With design and construction it will be 7 or 8 years before the plant is operational.

Making a $25 billion dollar decision based on a snapshot of today’s market conditions would be like looking only at a single pixel for 2 hours on a 80″ high def TV when deciding if the movie was any good.

With US Dollar strengthening against all currencies, the investment in LNG will be more profitable in countries like Canada and Australia because the wages are paid in Canadian and Australian Dollars and the gas sold in US Dollar.

Ottawa with its rate cut this week has restored the correlation between AUS Dollar and CDN Dollar and it will help LNG and oil sector in Canada a bit. The decline of crude oil hits US and oil producing countries whose currency is pegged to US Dollar more. Russia, Iran have already devalued their currencies by large amount and Canada is following suit. The current prices in crude oil, CDN Dollar and pump gas prices in PG are now more or less in line with my forecast of 2 months ego. Expect further decline in spring when oil demand decreases further.

The arithmetic of oil and CDN $ is easy. When oil was 100 U$, the oil industry got $100 CDN for a barrel, now that oil is 47 U$ and each CDN Dollar is .81 U$, the oil industry gets $58 CDN (= 47/.81) for a barrel. If CDN Dollar falls to say .71 U$. then the oil industry gets $66 CDN (= 47/.71) and can survive this price fall.

Palopu

Duh. Of course there are environmental reviews that need to be completed. There might be a bit of an uproar if they started pouring the foundations next week.

Although it would be peanuts in a $25 billion budget the review process will still cost a significant amount likely in the millions. Even a company as big as exxon does not throw that kind of money around unless they are serious.

I wish Ole’ Clarky would be just a positive about the Leafs….lol

Sparrow. Duhhhhh; My point was that the application for the environmental review is all that Exxon/Imperial have done to this point in time. So, two years before construction would start, and not finished until 2024. The key words in the press release is, IF WE DECIDE TO GO FORWARD WITH THIS PROPOSAL. In other words, no decision has been made. So until you get a decision all you have is a press release.

Didn’t she hold out on a multi million LNG deal with the Japanese until they walked away from the table?

Sparrow , yes I do, you don’t become one of the largest companies in the world by doing projects that will cost you 10 of millions extra right out of the gate. We have many years to wait till Exxon ruins our environment..no need to rush into it.

The deciding factor on whether or not any of these LNG projects go forward will be decided when and if those who propose to build them, get a 30 year contract sealed, signed, and delivered.

The chances on that happening anytime soon do not look good,. Maybe we will get a couple in the next few years, and maybe we wont.

LNG in BC is more about politics, than it is about good business decisions.

I seem to remember when I first signed on here back in 2005 when mt Milligan ( at that time was the largest project in the region) was going through the process being the first major mine proposal since Kemess.. At that time on this same site there were lots of naysayers too..(mainly because gold and copper prices were bearish) lets just say I’m glad that the arm chair economists on 250 news aren’t calling the shots.. Time some of you guys got off your arses and toured around this region becase the mines are built and the stakes are in the ground for some of these gas lines..

Added costs are the environmentalists, native issues and carbon scam adding to costs. The carbon scam is coming back to bite the fiberals on the ass.

Palopu, you nailed it in your first post. The previous premier, whose name I won’t mention as it riles up so many people, knew that Canada had missed the boat on LNG and that Australia had already covered the Asian market with its product. When Christy came on board and started throwing all these big numbers around, I knew she was being fed BS and was willingly playing the political game. It’s too bad she is so transparent, it’s pathetic.

seamuttt

Article from the G&M on BC’s carbon tax and the crux is that it works.

theglobeandmail.com/globe-debate/the-insidious-truth-about-bcs-carbon-tax-it-works/article19512237/

And how Ontario should copy the BC model.

theglobeandmail.com/globe-debate/editorials/ontario-should-look-to-bc-model-for-new-carbon-tax/article22435943/

From the above article:

“The evidence is in, and the effectiveness of B.C.’s carbon regime is beyond dispute.”

Arm chair quarterbacks… This is a real resource in BC. It’s been in play for decades. Your so short sighted to attack anything to do with Christy Clark and those that push a vital development that can push BC forward. Envious of Alberta but scared to see us reap benefits? This site should eliminate comments. It’s hard to avoid the drama but the news and no comments is better for this site. Just want the news… Myself.

“Australia had already covered the Asian market with its product”

Good thing that Syncrude and GCOS the forerunner of Sun Energy didn’t think like that; the Saudi’s have the oil market covered no point in us trying to get a foot in the door. Northern Alberta would never have become the economic engine of the country and will return to the head of the pack as oil prices increase.

Or another example Steve Jobs and Woz saying no point in us building computers the Commadore 64 has that market locked up…fast forward a couple of decades Apple in top 5 market cap companies in the world.

Good post, Woodlot. If we let the naysayers rule the day, we’d all still be living in caves.

The point is LNG isn’t a guarantee. Nobody ever said it was. All the government can do is try to pave the way the best they can. So far, I would say they’ve done a poor job of this, but there’s still a little time left.

Private industry is doing as much as it can despite the foot dragging and navel gazing. If you don’t believe me, go visit Kitimat and see what’s going on there.

LNG is dead. The BC government missed the boat on the majority of these proposals. Australia, the UK and other european countries all beat BC to the game. There is now too much LNG available for other projects to proceed. There may be one or two projects that will move ahead, the rest will remain as just proposed projects.

JohnnyBelt. I have been to Kitimat however the only major project that I seen was Alcan’s new Plant. This plant employs about 2500 construction workers. It should be finished this year and that’s about it.

There were a few LNG signs hanging from fences but very little work going on. There is some work being done on some LNG projects, however not enough at this point to ensure that any of these plants will go forward.

Perhaps with your in depth knowledge of everything going on in the Province you could give us some specifics as to what’s happening in Kitimat.

Palopu; so are you declaring yourself the expert of what is going on in the Province? The fact of the matter is there is and has been a lot of activity going on in Kitimat, and lots of it is due to LNG development.

I realize you have been an LNG naysayer since the start and would be giddy and smiling from ear to ear to see the whole thing fail, but the story isn’t over quite yet.

JohnnyBelt. As I suspected. Once I asked for specifics you would shy away from the topic.

I have a number of problems with LNG. The first is that it was announced prior to a Provincial Election, by a Government who is known for its inability to tell the truth.

Secondly the whole scenario does not really make any sense. We would not have an actual plant up and running until about 2024. So the Government would not be receiving any Royalties etc; until at least 10/15 years down the road,. So in the short term how will they have billions of dollars to spend that would allow them to get rid of the PST, pay off the debt, and have a huge heritage fund. ????

What we should be doing is building natural gas plants to generate electricity. We could start to build three of these through out the Province ie; Prince George, Lower Mainland, Southern Interior. We could start on these plants right away, generate approx. 1200 jobs for three or four years, generate enough electricity for 1,350,000 homes, create at a minimum 240 permanent jobs, and use the ((cheap)) electricity to create new industry.

Committing all LNG to foreign Countries in the short term is a fools game.

Building gas plants in BC would allow us to forget about the stupid plan to Build Site C. Three gas generating plants would produce more electricity than Site C at a cheaper cost, and look after our electricity needs for the next 100 years.

Lets look at doing something positive in BC rather than going down the Mega Project Road once again.

Palopu, the information is all over the web. I am not about to regurgitate it all for you. Google LNG in Kitimat.

And as usual, your posts are heavy on opinion, based on the world as you see it. Sorry to break it to you, but others see it differently and have a different vision. Your opinion is not the only one that matters, despite how you constantly try to portray it otherwise.

JohnnyBelt. I have Googled LNG Kitimat, Prince Rupert, BC, Canada, Australia, Brunei, Russia, China, Malaysia, etc; etc; etc;

The information is not as I see it, but as others see it. Most people (If you care to read) believe that most of these LNG projects will not get off the ground, mainly because of the glut of natural gas world wide, and the fact the BC is just getting into a game that has been played by others for many years.

In fact, the USA plans to import natural gas from Canada and export it as LNG to Asian Countries, so in some sort of perverted way we will be competing with our own gas.

We should keep most if not all of our gas in BC for local consumption, and for local industry. We can continue to export electricity to other Provinces, and the USA to generate revenue if we need it. This would allow us to stay in the game for the next 100 years. To sell all our natural gas to foreign Countries for short term gain is not exactly an intelligent way to look after our resources.

Building natural gas plants to generate electricity looks after all the needs of the Province.

1. Produces electricity for local use and export.

2. Generates jobs, and royalty payments to the Provincial Government sooner rather than later.

3. Gets rid of the need for Site C and eliminates the billions of dollars in debt that will be a result of Site C, in addition to flooding thousands of hectares of prime farm land, ecological systems, wildlife, etc; etc; etc;

Common sense tells us to avoid the Mega LNG projects and Site C. However since when did common sense have a place in BC.

The fact of the matter Palopu is that hundreds of millions of dollars have been invested by private industry to try and make LNG happen in this Province. Does that make it a guarantee? No.

However, I will listen to the leaders and experts in the industry who are putting their money where their mouths are and not the keyboard crusaders who just expel a lot of hot air.

Perhaps a few examples of these leaders who are putting their money where their mouths are would be in order. I wait with bated breath.

One major company stated a while ago that it was not unusual in the oil and gas business to spend billions and then to walk away if the project did not meet all its expectations. Investing money in the short term does not necessarily mean that the projects will go ahead.

Canadian Hunter spent lots of money drilling in North Central BC and the Nechako Basin, etc; and then turned all its drilling information over to the Provincial Government and walked away.

Some of the major LNG projects in Australia may not be completed because of the high cost of construction. So S..t happens.

In any event we do have alternatives to LNG Exports, will we use them?? That remains to be seen.

Palopu: “One major company stated a while ago that it was not unusual in the oil and gas business to spend billions and then to walk away if the project did not meet all its expectations. Investing money in the short term does not necessarily mean that the projects will go ahead.”

Where did I state that it did? Last I checked there were approx. 18 LNG proposals in BC. We’ll be lucky in my estimation to get one or maybe two that actually go ahead.

IMO Christy C. is as sly as a fox and is feeding the general public nothing more than political bs for her own personal gains and will do it with a smile on her face.

Sorry Palopu natural gas is more expensive to generate electricity than hydro electric. BC had four natural gas generating stations but now down to two and these are used for backup or will generate if the price is high enough. Gas cannot match hydro electric for costs as proven with the existing plants and costs is what shutdown two of the plants.

The green blob are trying to shutdown Burrard, just imagine trying to build a gas plant in the lower mainland today. Look into the Abbotsford plant.

Some people citizen Clark for missing the boat on LNG while ignoring the native issue, foreign funded NGO’s, carbon tax, green blob. Hey you folks try wading through all that crap.

The LNG and Enbridge projects are nothing more than a pipe dream. The last drop in oil prices tell us we cannot compete in the global market place.

8 we already sell oil and gas.

Seamutt. The cost to generate electricity using Hydro as opposed to Natural Gas may be correct insofar as it goes. The cost of construction and financing is another story.

You can build a gas plant to produce the same amount of electricity as Site C for 1/3 of the cost, and in 1/3 of the time. Would the cost of natural gas to run the plant be expensive. Well it might, but at the moment is isn’t,. Furthermore the Provincial Government and Hydro could negotiate a long term conract (30 years or more) for natural gas, the same as the gas companies negotiate with the Chinese, or Koreans, so I expect we could have a long term contract in place for supply with little or no problem.

If they don’t want a gas plant in the lower mainland who cares. We can build two or three in the Interior and keep the jobs in this area. Building one in the lower mainland would save us the cost of transmitting the electricity.

Look up **Atco Heartland Generating Station Information Package July 2013** and give me your views on that operation. Would appreciate your comments.

Sparrow interesting articles on misinformation. They confuse carbon and c02. Did you know your body is made up of carbon. Carbon or c02 are not pollutants, with out c02 there would be no life. The majority of earths existence is with c02 many times higher than it is now. Why do you think green houses have c02 levels above 1000 ppm, you breath out 40,000 ppm. C02 levels say in a crowded room like your living room can reach 3000 ppm. Crews in submarines live in an atmosphere of 8000 ppm upto six months at a time.

Mans contribution to atmospheric co2 is a paltry 3%, the rest is natural. BC’s contribution is about .01%, wow. Notice neither article mentions any c02 numbers. Oh despite 100’s of billions spent scientists have no idea how much man affects climate if at all. Hey Gore and Suzuki are making good coin, so are climate scientists, saving the world for a fee

Pine beetle, that is mainly due to forest practises and eliminating wild fires. Milder tempertures, ever hear of the Pacific Decadal Oscillation, El-Nino. Did you know the earth has been warming since the little ice age, a whole .7 degree c. Even the UN agrees.

Oh that record highest year for 2014, well Gavin from NASA and mass media left out some information, a whole whopping .002 degree, did you feel it. Also once the error bars are thrown in there is only a 38% chance 2014 was the hottest since recordings started. That means a 62% chance it was not the hottest. His source came from adjusted temperatures. Satellites, the most accurate show no warming for the last 20 years despite what computer models say. Mans global warming only exists in computer models not real world unadjusted data.

Whats the difference between a politician and a climate scientist, nothing.

So the +5C temp outside right now is residual from Christy’s speech.

seamuttt

You always refer to the carbon tax as a scam but the article shows that it not only met expectations but exceeded them. The goal was to reduce the use of hydrocarbons without hurting the economy by being revenue neutral. Since it was implemented it has reduced hydrocarbon use and actually helped the economy.

No point in even discussing co2 as it is obvious your mind is closed on the subject. You are incorrect on the pine beetle though, one of the main factors that control population is an early cold snap with little snow that will kill them before their natural antifreeze builds up. Been quite a few winters since we have had a cold snap of any kind nevermind an early one. Can’t recall the last time it was -40 for a week or two something that happened almost every winter not that many years ago.

Jonnybelt.What is happening in Kitimat other than the Rio Tinto Alcan project?

Sparrow read my post again, I think you just skimmed it with your closed mind. Read up on the pine beetle. Don’t use coffee shop knowledge. Can you refute anything I posted. Oh BC is not the world when it comes to temps.