Wednesday, August 26, 2015

Why Nobody Believes The Oil Companies, Why Nobody Trusts The Media To Tell The Truth

A couple of little stories and tweets caught my eye in the last couple of days..

CAPP, the Canadian Association of Petroleum Producers in an article published in the Calgary Herald..


Alberta drilling rig count decline linked to NDP's royalty review


The provincial government’s royalty review is likely worsening the activity-dampening effects of six-year-low crude prices, industry observers say, as an industry rig count drooped to its lowest level since the spring slowdown this week.

Numbers posted by the Canadian Association of Oilwell Drilling Contractors show there were 117 drilling rigs working in Alberta as of Monday for a utilization rate of 22 per cent. That’s down 15 rigs from the three previous weekly counts when the utilization rate was 25 per cent.

Meanwhile, the number of rigs working in Canada outside of Alberta fell by just one to 67 this week. The overall Canadian utilization rate of 24 per cent on Monday is about half of the 47 per cent rate in the same week last year, the CAODC reported.

The reason for the bigger decline in activity in Alberta is likely evenly split between oil prices and uncertainty caused by the Alberta NDP government’s royalty review, Tim McMillan told the Herald’s editorial board Tuesday, as benchmark crude rebounded to settle at $39.31 US a barrel.
“We are a challenging jurisdiction for several reasons right now,” said the president and chief executive of the Canadian Association of Petroleum Producers. “The statement ‘lower-for-longer’ I think is pervasive in the industry and the direction of the price of oil in past few weeks seems to reaffirm that.”

He said the situation is similar to that of 2007-08, when a royalty review by the Conservative government was undertaken at the same time a global economic slowdown fuelled lower commodity prices.

“I think there’s an argument to be made that we saw drilling numbers around the world come off but we did see a very clear trend of Saskatchewan’s investment go up, B.C.’s go up and Alberta’s go down,” said McMillan.

“And, I think, anecdotally, we see that around this industry right now, a slight weighting change in companies to projects that have the long-term stability until clarity is put on Alberta and the math can be re-evaluated as to where it stacks up in a competitive nature to other provinces and jurisdictions.”



I read some of the comments below the Calgary Herald article and it was clear the people reading the article who are are either pro, or con on big oil, don`t believe a single word from the CAPP president...

 Can you imagine, oil a year ago was over $100 per barrel, today the barrel price is under $40 dollars per barrel, a decline of over 60%...Hello, hello Mr. CAPP president, you come out swinging about the affect of an announced royalty review, when at the most the NDP Notley Government might add $1 dollar to the cost of a barrel, maybe, bringing the government of Alberta a meager $1.3 billion dollars more revenue per year...When the decline in the barrel price is costing Alberta oil producers as much as $60 billion dollars per year!!!!!!

 This is the reason why nobody believes big oil or Stephen Harper, ...Harper has aligned his government with big oil, in fact they are one in the same..Across Canada the price at the pump is virtually the same price when oil was over $100 dollars per barrel...Oh indeed, while oil producers stumble along crying about a future royalty review the refiners are making money hand over fist by gouging consumers...The refiners claim maintenance schedules and coffee breaks are the cause of continued high pump prices...Big oil producers are thieves, indeed..

I wonder when Thomas Mulcair is going to jump on the driverless tarsand truck story..Suncor has ordered thousands of driverless trucks from Japan...Roughly 6000 high paid tar sand truckdrivers are going to lose their jobs to a computer...Suncor is not alone, all the big tar-sand producers are moving to driverless trucks and soon moving to 90% automation..

This is Stephen Harper`s future, more tar sand production while tar sand employment numbers fall...This is the loyalty we can expect from big oil..

And then there is BC`s media, the ongoing misinformation in relation to LNG,  in relation to the real employment numbers and in relation to investment dollars..the Vancouver Sun, Vaughn Palmer, the province, Michael Smyth, CKNW, Global BC and Keith Baldrey...They keep blathering that Petronas`s Prince Rupert LNG proposal is a $36 billion dollar investment...It isn`t, never was, never will be, in fact the project is about to be scrubbed altogether..Everyday in the BC Legislature during the summer session to pass LNG legislation every BC Liberal including Rich Coleman, Mike De Jong and Christy Clark blathered about Petronas`s $36 billion dollar LNG proposal....

It`s a lie, a proven lie so stop using that number spindoctors, it`s the reason nobody believes you...

The Petronas Prince Rupert terminal if built has an estimated cost of $11 billion dollars, of which $8 billion plus dollars would be spent in South Korea, Japan and China..


Petronas wants engineering work for B.C. LNG venture to be shifted offshore

VANCOUVER — The Globe and Mail
Last updated

Petronas plans to push contractors to shift more engineering work for a proposed B.C. liquefied natural gas venture to lower-cost centres offshore as the Malaysian energy giant squeezes suppliers.

Of the total $11.4-billion in estimated construction costs for the Petronas-led Pacific NorthWest LNG export terminal at Lelu Island, there would be $8-billion worth of imported goods and services spread over a five-year period.
 It is in that international component where Petronas hopes to find the bulk of cost savings, but the state-owned company will cast a wide net abroad and in Canada, including having TransCanada Corp. re-examine ways to make its proposed $5-billion natural gas pipeline project more efficient.


Even today, the Vancouver Sun and Vaughn Palmer know the real investment dollar figure for Petronas`s Prince Rupert proposal, they still toss around the $36 billion dollar figure like a Tom Brady inflated football!..

That`s real funny in a blatant propagandized way....Even the British Columbia Liquid Natural Gas Alliance (BCLNGA) admits Petronas`s Prince Rupert LNG liquefaction terminal proposal is a $11 billion dollar cost...


The Pacific NW LNG facility would cost approximately $11 billion to build.

Malaysia's Petronas profit down 47% on oil weakness


Kuala Lumpur (AFP) - Malaysian state energy firm Petronas said Friday its second-quarter profit plunged 47 percent, warning of "unrelenting" difficulty as lower world oil prices hit the company's bottom line.

Net profit at Malaysia's only Fortune 500 company for the three months ending June 30 fell to 11.1 billion ringgit ($272.2 million), compared to 21.06 billion ringgit in the same period last year.
"Petronas is bracing itself for more challenges ahead as low oil prices persist," Wan Zulkiflee Wan Ariffin, Petronas president and CEO, said in a statement.

"Overall, it has been an unrelenting difficult period," he added.

The news marks the fourth straight quarter of either weakening year-on-year sales growth or outright losses.

The company posted a $2.02 billion loss in the fourth quarter of 2014, its first since launching quarterly earnings reports five years before.

Petronas is the single largest source of Malaysian government revenue and national export earnings, and its declining fortunes will add to concerns over the economic prospects of a country heavily dependent on oil exports.

Growth is slowing, and the ringgit currency is daily plumbing 17-year lows due largely to the fears over the rout in oil prices, which hit a fresh six-year nadir in US trading on Thursday.

"Petronas does not foresee a reprieve from the low oil prices in the near future," Wan Zulkiflee said.
Revenue tumbled 28 percent to 61.30 billion ringgit during the second quarter.

Wan Zulkiflee painted a grim picture going forward, saying cash flow this year was not expected to meet capital expenditure plans or dividend commitments.

"This means that we will have to persevere with more austerity measures," he said.
The company has in recent months outlined austerity measures such as deferring some key projects.

"Deferring some key projects"

Petronas will play the stall game for another 6 months before officially pulling the plug...

Lastly, it was reported that Christy Clark and the BC Liberals are going to hold a Fall-Session in the BC Legislature..

This is rather unusual for the BC Liberals, a political party with Canada`s worst legislative record in terms of sitting days...

This move made my political radar alarm start beeping...What are they up to, why a Fall Session?

And then the answer fell in my lap...A source told me there is more LNG legislation being brewed up...

Remember David Keane, president of Christy Clark`s LNG promotional panel known as the BCLNGA?...Remember what was asked/demanded for by by the BCLNGA, within days of the BC Liberals ramming through sell-out LNG legislation in a rare summer sitting, David Keane and the BCLNGA came out with this demand..


VICTORIA – A liquefied natural gas industry: the British Columbia government fought an election on it, launched an extraordinary summer legislative session and made financial concessions, but it still isn’t enough for the companies that want even lower taxes and have expressed concerns over the availability of workers.

The Liberal government’s LNG dream is expected to move towards reality this week when a bill is adopted for a 25-year agreement on what could be B.C.’s first LNG plant.

B.C.’s politicians were recalled this month to debate and pass a single piece of legislation that aims to provide certainty to LNG investors and revenues to the province.

“I think there’s more work to do in terms of making sure we are in fact globally competitive,” said B.C. LNG Alliance president David Keane. “I think the government has more to do.”

Pacific NorthWest LNG, a joint venture backed by Malaysian state-owned energy giant Petronas, plans to build a US$36-billion LNG plant at Lelu Island near Prince Rupert. It will be the largest private investment in B.C. history and the LNG Project Agreements Act seeks to provide a 25-year buffer against LNG-targeted tax increases but allows increases in corporate and sales taxes.

There are things that can be done in terms of some of these taxes, like the (provincial sales tax) PST,” said Keane. “These projects will pay hundreds of millions of dollars in PST taxes, which typically, if you are classified as a manufacturing facility, you are not subject to.”
B.C. is the only jurisdiction where LNG companies must pay LNG income tax and a carbon tax, he said, adding they will also pay PST, GST, payroll, provincial and federal corporate taxes and municipal taxes.


There it is again, the $36 billion dollar lie....A source informed me that the BC Liberals are planning on bringing legislation that will allow LNG companies to avoid paying any PST, and more...The BC Liberals are planning on bringing in a HST type arrangement for LNG companies...Meaning these LNG companies will get all their taxes back, PST and GST....Yes the GST is federal jurisdiction and it must be paid, however, British Columbia`s BC Liberal Government will refund/rebate these LNG companies back the money...You the taxpayer will pay...An industry specific HST...Remember the HST, the tax we BCers rejected through referendum..The HST....It`s coming back for LNG..___________

The Straight Goods

Cheers Eyes Wide Open


Friday, August 21, 2015

British Columbia LNG Industry, The Last Gas(P)....A Straight Goods Special

Written by Grant G

A fool and their money soon part ways.....

Seems to me that every time devastating news on the world LNG front rears its head out comes a British Columbia made LNG spin story, yesterday was no different, articles and newscasts came out blazing, ...The proponent,...Steelhead LNG

Steelhead`s proposal, a floating LNG operation near Mill Bay on Vancouver Island and a $30 billion dollar LNG liquefaction plant in Port Alberni..

This proposal will never happen, never be built, a foolish pipedream, ...Steelhead LNG is not an energy company, they have no assets, they own no LNG facilities, they own no upstream drill properties, Steelhead LNG is a group of people, including BC Liberal Geoff Plant and some other people with expertise in the energy game, but to be clear they have no financial means to back up their silly proposal..

I feel bad for Vancouver Island First Nations who have drank the LNG koolaid...

Steelhead LNG proposes a pipeline from northeast British Columbia to our southern B.C. coastline, from there another pipeline on the bottom of the Georgia Straight, from there a pipeline to cross Vancouver Island to BC`s wild west coast, (Sarita Bay)...In Sarita Bay Steelhead LNG proposes building a $30 billion dollar liquefaction plant, ..Thus having massive LNG tankers traversing the wind-swept Alberni canal, a waterway that is winding, very narrow, where winds whip up to 100 miles per hour on a regular basis, winds that come out of nowhere, regardless of the weather, the Port Alberni canal is a natural wind tunnel, winds race through the canal without a cloud in the sky, winds in the canal are thermal dynamic driven...The canal is also full of fishing vessels, both sport and commercial, the canal is also a tourist destination with fishing lodges and camp-sites from end to end...

This project will never happen, for two reason, the first being the risk to tourism, to salmon, to life itself, the canal is too small and too windy to ever have that kind of operation approved..

The second reason why the project will never happen is money, Steelhead has no financial means and no bank or money lender will ever sanction such an expense on an industry gone/going bust.

Breaking News...Japan has restarted their first nuclear plant(Sendai #1) ..Japan is also on pace to restart 11 more nuclear plants in the next year...

Remember this during BC`s 2013 election ...Christy Clark said this about LNG and I quote..

"British Columbia can receive five to six times the price for BC LNG in Japan"

"British Columbia will create hundreds of thousands of high-paying LNG jobs"

"British Columbia will create a $100 billion dollar prosperity fund"

"British Columbia through LNG will retire our provincial debt, pay off all crown debt, eliminate bridge tolls, British Columbia could even eliminate our provincial sales tax" 

Christy Clark said all those things and more, Christy Clark`s communication director Pamela Martin stated, and tweeted to British Columbia`s public, and I quote..

"What would you do with a $trillion Dollars"

Where to even begin, there is so much bad news out there for British Columbia`s LNG industry..

Najib Razak, Malaysia`s prime minister and Petronas head is in survival mode, the proposed Petronas Prince Rupert project has been put on the back-burner, in fact I and many others believe the project is about to be officially cancelled altogether...Yes Petronas has some contracted obligations to deliver LNG in the future, many BC LNG spindoctors ( Brad Zubyk, Resources Works, BCLNGA) and others have blathered about Petronas and the LNG they were contracted to deliver by 2019...

Petronas has solved that problem with this acquisition..


Sarawak Shell Berhad, a unit of Shell, has handed over its 50 percent stake of MLNG Dua to Malaysia’s Petronas.

Previously, MLNG Dua was operated by Shell via a production sharing contract signed with Petronas in 1993.
With this handover, Petronas subsidiaries PCSB and EPMV now own 90 percent and 10 percent equity respectively as PSC operators. The previous PSC expired August 20, Petronas said in a statement on Friday.
“Petronas is committed to ensure that there will be no interruption to the supply and demand of gas and achieve stability in the operations of MLNG Dua,” said Petronas Senior VP Upstream Malaysia, Mohd Anuar Taib.


Petronas has just secured supply, with that acquisition they can meet their deliverable contracts without their Prince Rupert LNG liquefaction facility......An acquisition and major news story that BC`s lamestream media ignored....They were too busy spinning Steelhead LNG`s uneconomical and unattainable pie in the sky proposal.

The world LNG market today, in 2015 is already in a structural glut, and that`s before the 60 million tonnes of new capacity comes online in the next four years, the world LNG market is in a structural glut before Japan restarted their first nuclear plant, with 11 more nuclear plants slated to come online in the next year, and I remind you that at present Japan is the largest by volume consumer of LNG..NOT FOR LONG..

The news gets worse, existing LNG operations have seen their profits plunge year over year and anyone paying attention to world economies, China is in recession, manufacturing in free-fall, energy stocks are low, oil hovering at $40 dollars per barrel and forecasted to reach lows not seen in decades, possibly dropping as low as $20 dollars per barrel, expert forecasters are predicting oil to remain low for at least another decade..


Australia’s Santos, operator of the GLNG project, reported a half-year net profit of $37 million after tax, 82 per cent lower than the previous first half, reflecting significantly lower oil prices and a higher exploration expense.

The half-year results were also highlighted by improvements in production and significant cost reductions across the business, Santos said in its results report on Monday.
Strong operational performance – particularly from PNG LNG and Darwin LNG – saw Santos record production growth of 13 per cent compared to last year. However, the lower realised oil prices resulted in sales revenue declining by 15 per cent.


Japan, even before they restarted their first nuclear plant have seen LNG imports decline precipitously ...


Kogas of South Korea, the world’s largest corporate buyer of LNG, said its sales volume totaled 1.90 million mt in July, a drop of 20 percent as compared to the same month last year.

Gas sales into the power sector were at 1.01 million mt, down 26.8 percent when compared to July in 2014, Kogas said in a filling to the stock exchange.
The company’s city gas sales dropped 10.6 percent on year to 887,000 mt.
Kogas imported 16.54 million mt of LNG in the first half of 2015, down 17.1 percent as compared to the previous year.

The bad news on the LNG front is staggering, the prospect for British Columbia to get any LNG projects is very, very grim indeed...Petronas, the company the BC Liberals bent over backwards for and sold out British Columbia to is in a world of hurt...Firstly...Petronas`s LNG sales are in steep decline,....And even the head honchos at Petronas see no relief in the near to long term..


Malaysia’s oil and gas giant Petronas said it has sold 8 percent less LNG in the second quarter of 2015, as compared to the same quarter a year ago.

The company’s LNG sales were at 6.92 million tonnes, down by 0.6 million tonnes on year due to lower production at its LNG complex in Bintulu, Petronas said on Friday.
In the first half of this year, Petronas sold 14.96 million tonnes of LNG, down from 15.15 million tonnes a year ago.

Petronas President and Group CEO Datuk Wan Zulkiflee Wan Ariffin said that the company does not foresee a reprieve from the low oil prices in the near future
“I do not expect our cash flow from operations this year to meet our CAPEX and dividend commitments. This means that we will have to persevere through with more austerity measures, and will have to draw on our cash reserves,” he said.


The news for Petronas`s Najib Razak and the people of Malaysia gets even worse....Petronas which supplies the government of Malaysia upwards of 30% to 40% of their national budget...Petronas will not be able to meet their dividend obligations to Malaysia...Meaning the entire population of Malaysia are about to feel the pain, cutbacks and worse..


Petronas cuts dividend payment to RM26b in 2015

Summary of the news presented in point form:

  • Petroliam Nasional Bhd (Petronas), is trimming the national oil firm’s dividend paid to the government this year, in view of weaker earnings.
  • Revenue dropped 21% to RM66.2 billion for 1QFY15, from RM84 billion a year ago.
  • Oil firm has allocated a full year dividend of RM26 billion for the government, as compared to the RM29 billion last year. In 2013, Petronas paid a dividend of RM27 billion.
  • Petronas saw a 39% decline in its net profit to RM11.4 billion for the first financial quarter ended March 31 (1QFY15), compared with RM18.8 billion in the previous corresponding period. 

Christy Clark and Rich Coleman blather about a generational opportunity with LNG, all the promised riches, a $trillion dollars was hyped a few short years ago and now those numbers slashed by a factor of 20 today, and now Petronas can`t even honour commitments to their own country...

The LNG industry is oversupplied, in structural over-supply with 60 million tonnes of capacity under construction coming online in the next few years, even American brownfield LNG projects are in doubt as to profitability...A brownfield operation is where most of the LNG infrastructure was already in place, in the USA a decade ago $billions were spent to gear up for LNG imports, regasification plants and pipeline networks were built, but along came the fracking revolution and the USA found themselve awash in natural gas, those facilities have been, are being converted to LNG export facilities...In British Columbia LNG would be a greenfield industry, meaning nothing is in place, no existing facilities available for conversion, no pipeline networks, everything has to be built from scratch, also, BC`s gas supplies are hundreds of miles and a rugged mountain range away from the coastline....Making BC LNG very expensive indeed, not counting First Nations needing equity deals and protecting a very diverse rich river and salmon environment...Nothing easy, not without destroying our forever sustainable wild salmon..

PIRA, they have recently come out with data implying the USA`s brownfield LNG exports plants are going to struggle to make financial returns...


YC-based PIRA Energy Group believes that the return of Japanese nuclear capacity, surging Asian LNG supply, and the weakness of crude prices does not bode well for Atlantic Basin flows to Asia.

The broader compression of Asian spot prices at the high end against Henry Hub at the low end strongly implies shorter haul LNG trade and lower prices, PIRA said in its report.

The North American natural gas supply curve continues to look flatter. PIRA still believes that there will be an uptick in price as the US passes through its demand surge and LNG and industrial projects start up, but the extent of the inflation adjusted run-up post-2020 has been reduced as the resource base expands and productivity improves.
PIRA also sees an increasing concern that U.S. LNG projects will find it difficult to recover full costs plus a return in an increasingly competitive market.


Let me be perfectly clear, if USA brownfield LNG export projects are now looking very iffy as to profitability and return on investment than British Columbia greenfield proposals are money sinkholes that will never see a profit...Unless British Columbia gives Petronas free gas, tax free and royalty free the proposed projects aren`t viable and what is even more scary...The LNG obsessed BC Liberal Government is ramming forward with a $10 billion dollar plus Site C dam project to supply electricity for an LNG industry that ISN`T going to happen!..

Over $10 billion dollars flushed down the toilet, $10 billion plus taxpayer dollars flushed away...Petronas can`t even pay themselves let alone pay British Columbia..

This information has been available here at The Straight Goods for some time, only now are the world energy experts and forecasters coming to terms with this new LNG reality, unfortunately Christy Clark and the BC Liberals put all their eggs in one basket and our domestic media sold out the people of British Columbia...Here a simple blogger with little means, no research staff, no money, a one person operation has put the Vancouver Sun, The Province, Global BC, CTV, CKNW, Vaughn Palmer, Michael Smyth, Les Leyne, Keith Baldrey and others to shame....

Those entities have the resources and the information but unfortunately they have been corrupted, sold out to the BC Liberals and to big industry..

I have saved the best for last...From Bloomberg....Nothing new that hasn`t already been reported here for several years, but confirmation..


Gas Golden Age Fades as Supply Boom Meets Japan Nuclear Rebirth

The golden age of natural gas lost some of its luster this month.

Japan, the world’s biggest buyer of the fuel in liquid form, restarted a nuclear reactor on the island of Kyushu Aug. 11, re-embracing atomic power to shrink energy-import costs.

 A week later, a production milestone was marked at Santos Ltd.’s Curtis Island plant in Australia, a new liquefied natural gas project that’s part of a record annual capacity increase.

Japan’s return to nuclear power after the 2011 Fukushima disaster and China’s economic slowdown are undermining the demand that prompted the International Energy Agency to envision a golden age four years ago. Companies including Chevron Corp. and BG Group Plc were counting on Asia’s consumption as they sank hundreds of billions of dollars into new supply. A glut will cap LNG prices for years, according to Citigroup Inc.

Japan is going to do very well out of this,” Christopher Haines, a senior oil and gas analyst at BMI Research in London, said by phone Aug. 20. “Australia will probably be hit the hardest, there is a lot of new capacity coming online.”

The fossil-fuel import bill for Japan, once Asia’s biggest nuclear power producer, surged after Fukushima as the nation turned to other energy sources including LNG to plug the gap. This contributed to four years of trade deficits that hit a record 12.8 trillion yen ($103 billion) in 2014.

Sendai Restart

Kyushu Electric Power Co.’s No. 1 reactor at the Sendai facility is the first to come back online under new post-Fukushima safety rules as Japanese Prime Minister Shinzo Abe seeks to revive the atomic fleet. While Kyushu plans to resume operations at a second unit in October, the timing on further restarts is uncertain due to tougher procedures set by Japan’s Nuclear Regulation Authority, legal challenges and public opposition.

Utilities have applied to resume operations at 25 of Japan’s 43 reactors. Next year, 11 units may restart, according to Polina Diyachkina, an analyst who has covered the nation’s power providers for three years at Macquarie Group Ltd.

Australian Supply

Demand for LNG will slow as the nuclear restarts continue, Citigroup analysts including Ed Morse said in an Aug. 12 research note. The price of the fuel shipped to northeast Asia has slipped about 60 percent since climbing to a record $19.70 per million British thermal units in February 2014.
“There will be a glut of spot cargoes which will put further downward price pressure to spot prices” as Australia starts up 13 LNG units over the next three years, David Hewitt, the co-head of global oil and gas equity research at Credit Suisse Group AG, said by e-mail. “We would not be surprised to see some very low headline spot price deals in the next few years.”
LNG producers are forecast to add 50 million metric tons of new capacity next year, the largest single annual increase in history and equivalent to a fifth of current global demand, according to Sanford C. Bernstein & Co.

$150 Billion

The bulk of the supply is coming from Australia, where companies including ConocoPhillips, Royal Dutch Shell Plc and Inpex Corp. are spending more than $150 billion on ventures due to start in the next two years.
On Curtis Island in Queensland, the $18.5 billion Santos development sent gas into the first processing unit of its LNG plant, a key step on the path toward starting production, the company said Aug. 18. There are two other projects on the island, including Origin Energy’s A$24.7 billion gas-export venture with ConocoPhillips.

The next wave of exports will come from North America, where only six of the roughly 40 proposals so far will be built, according to a Bernstein report last month. Those facilities -- from Cheniere Energy Inc.’s Sabine Pass project in Louisiana to Dominion Resources Inc.’s Cove Point project in Maryland -- are scheduled to construct more than 60 million tons of capacity by 2021, according to the researcher.


Meanwhile, British Columbia doesn`t have a single final investment decision, not one shovel in the ground, all that Australian and American capacity coming online, already under construction, 60 million tonnes annually coming online from the USA alone....

Australia has downgraded government revenue forecasts from existing LNG operations...

The news get even worse, green technology, solar energy and roop-top applications will soon see electricity produced cheaper than gas or coal....clean green technology..

From an earlier Straight Goods posting..


 The renewable-energy boom is here. Trillions of dollars will be invested over the next 25 years, driving some of the most profound changes yet in how humans get their electricity. That's according to a new forecast by Bloomberg New Energy Finance that plots out global power markets to 2040. 

Here are six massive shifts coming soon to power markets near you:

1. Solar Prices Keep Crashing

The price of solar power will continue to fall, until it becomes the cheapest form of power in a rapidly expanding number of national markets. By 2026, utility-scale solar will be competitive for the majority of the world, according to BNEF. The lifetime cost of a photovoltaic solar-power plant will drop by almost half over the next 25 years, even as the prices of fossil fuels creep higher.
Solar power will eventually get so cheap that it will outcompete new fossil-fuel plants and even start to supplant some existing coal and gas plants, potentially stranding billions in fossil-fuel infrastructure. The industrial age was built on coal. The next 25 years will be the end of its dominance. 

2. Solar Billions Become Solar Trillions

With solar power so cheap, investments will surge. Expect $3.7 trillion in solar investments between now and 2040, according to BNEF. Solar alone will account for more than a third of new power capacity worldwide. Here's how that looks on a chart, with solar appropriately dressed in yellow and fossil fuels in pernicious gray:

© BNEF Expect $3.7 trillion in solar investments between now and 2040, according to BNEF. Solar alone will account for more than a third of new power capacity worldwide.

3. The Revolution Will Be Decentralized

The biggest solar revolution will take place on rooftops. High electricity prices and cheap residential battery storage will make small-scale rooftop solar ever more attractive, driving a 17-fold increase in installations. By 2040, rooftop solar will be cheaper than electricity from the grid in every major economy, and almost 13 percent of electricity worldwide will be generated from small-scale solar systems.
4. Global Demand Slows

Yes, the world is inundated with mobile phones, flat screen TVs, and air conditioners. But growth in demand for electricity is slowing. The reason: efficiency. To cram huge amounts of processing power into pocket-sized gadgets, engineers have had to focus on how to keep those gadgets from overheating. That's meant huge advances in energy efficiency. Switching to an LED light bulb, for example, can reduce electricity consumption by more than 80 percent. 
So even as people rise from poverty to middle class faster than ever, BNEF predicts that global electricity consumption will remain relatively flat. In the next 25 years, global demand will grow about 1.8 percent a year, compared with 3 percent a year from 1990 to 2012. In wealthy OECD countries, power demand will actually decline.  

5. Natural Gas Burns Briefly

Natural gas won't become the oft-idealized "bridge fuel" that transitions the world from coal to renewable energy, according to BNEF. The U.S. fracking boom will help bring global prices down some, but few countries outside the U.S. will replace coal plants with natural gas. Instead, developing countries will often opt for some combination of coal, gas, and renewables.  
Even in the fracking-rich U.S., wind power will be cheaper than building new gas plants by 2023, and utility-scale solar will be cheaper than gas by 2036.
Fossil fuels aren't going to suddenly disappear. They'll retain a 44 percent share of total electricity generation in 2040 (down from two thirds today), much of which will come from legacy plants that are cheaper to run than shut down.


Petronas`s proposed Prince Rupert project is about to be cancelled, I suspect that`s why the political forces that be, the BC Liberal Government and a sold-out compliant BC Media ran guns a blazing with the Steelhead LNG proposal...What a waste of spin on a project so uneconomical, never going to happen...With green technology running over fossil fuels, with a world glut of LNG, with oil prices in the tank, with China`s economy just starting a 10 year economic slowdown, maybe even recession...

With Iran, Iraq, Turkmenistan, Russia, China all busy constructing natural gas direct pipelines to Asia, to Japan, to Pakistan, tonnes of natural gas not needing expensive liquefaction facilities..

Now with Japan for domestic financial reasons proceeding with nuclear restarts..

LNG export industry is the new poster boy for fools rush in..

Lastly...Steelhead LNG is nothing but noise, no financial institution is going to bankroll that operation on slim margins, in an already saturated market, with LNG use on the decline, with Japan about to slash its LNG use, with China starting a longterm slowdown, with oil and energy stocks in the tank..

The time is ripe for the BC Liberals to present their plan B to pay off the massive $140 billion they added to BC`s debt..

I won`t hold my breath.

The Straight Goods

Cheers Eyes Wide Open



Tuesday, August 18, 2015

Stephen Harper, Sukanto Tanoto, Christy Clark and Najib Razak, The TiesThat Bind, Bought, Corrupt Politician`s Private Club

Written by Grant G

"What a tangled web we weave when first we practice to deceive"

I have referenced that saying many times over the years, in particular in relation to the BC Liberal Government and the Stephen Harper regime....

Incredulous, no one with connected brain cells can believe Stephen Harper when he says that he was left in the dark over the whitewashing of the Mike Duffy senate scandal, Stephen Harper, renown for micromanaging the finest details, a control freak, a overarching grip on every move made by his office staff and party henchmen/woman...Are we to believe that Harper was unaware of a near dozen PMO staffers running around like blind mice chasing down and consuming every piece of stinky senate laced cheese....

Stephen Harper must be lying, must be a conman, he knew of the Duffy sins, he knew of the deal, Harper okayed the deal in the form of "good to go" and now he wants the whole sordid affair to go away...

No one believes Stephen Harper and rather than be a man and own up to this pathetic lowbrow cover-up, Stephen Harper continues to build a silk web of lies,

Christy Clark...Ethnicgate scandal...Health firing scandal...Bollywood scandal..Burnaby Hospital scandal...The same theme runs through both governments, lies from the Premier, Lies from the Prime Minister, nobody in charge of a province or country can ever claim that they knew not what their staff was up to, these staffers weren`t temp secretaries or mail-boy trainees but Chiefs of Staff...Communication Directors..Legal teams, Personal lawyers...Political staffers personally appointed by Christy Clark and Stephen Harper...

Incompetence, incoherent,"Just not ready" or plain old corruption from the top offices of British Columbia and Ottawa.

 I don`t care what a person`s political leaning is..Right, Left or mythical Center when one discovers rot, decay, insect infestation that is eating away the foundation of Democracy and snubbing the nose of the rule of law, one must reject corruption, remove the rot and lay poison for the king and queen egg layers, there are no other solutions, once the foundation is cracked and begins sinking into a blackhole of corruption and lies...

There is no turning back...For once the leaders start lying more and more lies are needed to cover for the original lies, political staffers and appointees who possess the straight goods on the real truth they too become liabilities, liabilities that must be shielded, protected and financially taken care of resulting in a bigger and ever growing web of deceit

"What a tangled web we weave when first we practice to deceive"   

Stephen Harper deserves but one thing, to be shown the exit door, so many people have piles of dirt on Stephen Harper that the office of the Prime Minister under Stephen Harper is forever stained, tainted, corrupted, Harper has no moral authority to Govern anymore, all those political dirt possessing palms to be greased with silence$$$ dole...

Here is another example of a bought politician,  Stephen Harper working for the oil companies,  Harper silently appointed a Kinder Morgan paid consultant to Canada`s National Energy Board two days before the election writ was dropped, he appointed a man who was employed by Kinder Morgan to promote their own projects, this outrageous appointment saw this oil executive bounce from Kinder Morgan`s employ to the NEB, a political appointment that doesn`t pass the smell test...Stephen Harper gave Kinder Morgan a third of the power at Canada`s NEB...An oil executive to decide on oil and pipeline projects.

The same thing goes for Christy Clark...Christy Clark and her cabinet have lied and deceived the British Columbia public so often, on so many scandals,  Clark`s office staff, her political staff and partisan appointees have so much dirt on Christy Clark`s Government that the corruption train will run and run, gain speed and careen forward until finally it derails, and in Stephen Harper and Christy Clark`s case,  derailment is good for Democracy, good for the people good for renewal and gives hope for a brighter future...

The BC Liberals are so corrupt, so corporate owned, likewise with Stephen Harper, there is no salvaging any part of those political gangs, the rot runs too deep, only a gutting, a purging, a wholesale burn-them-to-the-ground and sweep away the ashes...

Mike De Jong...Rich Coleman...Christy Clark.....You can`t morally ink MOUs and pass legislation with felons, with tax evaders, with thieves and criminals or with equally corrupt foreign Governments..

Christy Clark`s bullshit LNG con-job..There are no $billions in windfall profits for British Columbia..LNG is a polluting beggars fuel on the way out before it became a perceived in...The entire LNG industry is riddled with graft and public theft...

Australian LNG projects all went over budget by $10`s of billions of dollars, inflated project budgets....Graft..When Governments allowed energy giants to write-off all build costs prices zoomed upwards, the kick-back and triple billing schemes turned soup de jour, all the rave, energy giant CEOs dance the jig knowing Joe Smuck taxpayers are on the hook to pay the inflated bills.

Look at who Christy Clark is joined at the hip with.... Sukanto Tanoto, a criminal, tax evader, environment killer?...And most likely from what I have read a mass murdering $billionaire who destroys villages and the lives of those who get in his profiteering ways..A ruthless killer of those who have no voice...

Christy Clark can`t claim innocence, or stupidity when it comes to Sukanto Tanoto, Christy Clark knows what a ruthless, corrupt cheat Sukanto Tanoto is, the information is out there, ten minutes of online research on sukanto Tanoto is enough to ring alarm bells,  she doesn`t care, Christy Clark is selling out British Columbia and its people for political gain, for personal money, Clark makes sure she is well-fed and taken care of and doesn`t give a damn if $hundreds of $billions are stolen, looted from British Columbia`s coffers and life itself sucked out of our salmon rivers, as long as Christy Clark and the BC Liberal party are paid off with political bribes nothing else matters.

This posting, this recital of facts, this scathing story is meant as a wake-up call to all Canadians..

Remove the rot, burn these corrupt entities to the ground, clean house, sweep these elected criminals out of office and with luck, jail them for crimes against humanity and grand theft of the public purse..

PETRONAS...NAJIB RAZAK....They are one of the same...Stephen Harper CON PARTY and Christy Clark`s Liberal Government have disrespected First Nations, they have corrupted all environmental assessments, the NEB is an oil industry infiltrated entity, British Columbia Government are cooking mythical books on vague LNG revenues flowing to BC sometime in the future(2028), a decade plus later??  for finite natural gas, the BC Liberals are lying about investment value of these LNG projects by a factor of 10...Lying about employment numbers by a factor of 20, lying about financial returns to the province and lying their godamn faces off over the threat to Canada`s second most productive salmon river..The Skeena..

Christy Clark and Rich Coleman would kill every wild salmon in British Columbia for the price of a political bribe and personal gain, they will deal with corrupt bought governments, mass murderers?, tax evaders, even worse, these BC Liberal grafters are spending probably $12 to $15 billion on a not needed Site C dam, this power, another BC taxpayer gift being handed to the sunset industry known as LNG export.. 

A project they refuse to be examined by the BCUC or any expert...$billions and billions to be spent, a decision made by a school drop-out, Christy Clark`s BC Liberal team know Site C dam power project won`t survive scrutiny....Corruption, Bought..

Christy Clark will even have business dealings with Malaysia`s Najib Razak, remember Najib, he is the head of Petronas energy company and the Prime Minister of Malaysia...

Well, ....Najib Razak, Malaysia`s prime minister is embroiled in a growing and growing scandal..

"What a tangled web we weave when first we practice to deceive" 

Najib Razak, Malaysia`s prime minister was outed by a whistle-blower, the whistle-blower who is now MIA..Gone, probably dead, the whistle-blower reported on the fact that Najib Razak mysteriously had near $900 million US dollars deposited in his personal bank account, not a political party bank account, not a government bank account but his own personal bank account, ..10,000 years worth of his yearly prime minister salary($80 K per year) deposited in his bank account..

The shit hit the fan, the money is believed to be stolen from a Malaysian investment fund that has gathered up $11 billion in debt over the last few years.....A crime and corruption commission looking into the scandal became a target of Najib Razak and his Government powers...Members of the commission were disbanded, arrested and sent packing, the investigation halted..Malaysia`s attorney general was fired, honest Malaysian cabinet ministers removed, four of them tossed, local Malaysian newspapers and media outlets shuttered, dozens arrested as Christy Clark`s Malaysian business partner attempts to put out all his domestic fires, pure brute force to silence Razak`s critics, and silence justice.

After the BC Liberals used  their majority to ram through their draconian sell-out LNG legislation  Mike De Jong immediately and personally flew to Malaysia to tell Najib Razak in PERSON that the BC Liberal Government legislated into law all the demands he requested.

Mike De Jong was there to collect on what they were promised, shovels in the ground before the 2017 election, he never even got a commitment on anything, unfortunately for Mike De Jong, Najib Razak is in survival mode and Petronas`s Prince Rupert project proposal has been shuffled to the back-burner...Mike De Jong was shown the out-door and the way back to the Malaysian airport and sent back to British Columbia empty handed.

BC Liberals drafted legislation and sold us out on a flyer, a prayer, a wisp of fairy dust, tongue hanging, pant pant pant, not a flattering picture, a burning image of De Jong and Christy Clark begging for bones from the $1 billion dollar man..

Who today wants to invite Najib Razak to British Columbia, or Canada and hold a big ritzy photo-op and presser where the environmental approval and whitewashing rigged environmental assessment  result is announced....Stephen Harper can bond with another tough on ISIS crusader?...Christy Clark can teach Najib Razak kite-surfing?..

 Not Stephen Harper, he has his own office problems, but not for long..Tic Toc, tic toc..

So, Nazib Razak gets caught with near $1 billion US dollars in his personal bank account, he needed an excuse, and boy oh boy did Najib Razak come up with a whopper.

Najib Razak made the claim that the near $1 billion US dollars deposited in his personal bank account in March 2013 was..

"A political donation"

A $billion dollar political donation, from an un-named, unknown Middle East donor, ?

Are you kidding me...Najib Razak, Christy Clark`s partner in crime made the absurd claim that this $1 billion US dollars was a mere election campaign gift.

However,  no brain-cell connected person believes the story, except Christy Clark and Stephen Harper, only those two political leaders believe Najib Razak...after-all, Mike Duffy scandal..military procurement boondoggles, endless deficits and ballooning debt, ...Christy Clark has a dozen scandals, every office staffer mute, political appointees investigating political appointees in an endless stream of scandal, graft, public theft and political thugness, roll out the legal guns eh Christy, eh Stephen..

Well, we have news, big damning news...Cuz guess what, Najib Razak has changed his mind, err, changed his story, again, this near $1 billion dollar gift, which earlier Najib Razak claimed was a political election party donation, now Najib Razak is claiming the money was gifted to him because....

Because he was instrumental in the fight against ISIS....Wholly smokes Batman. Hold onto to your tights Robin...This is a bombshell announcement that is about to blow up all over Najib Razak`s political future..


Prime Minister Datuk Seri Najib Razak should come clean about the RM2.6 billion donation made to his personal accounts following revelations that the money was given to Malaysia for fighting militant group Isis, DAP said today.

Its parliamentary leader Lim Kit Siang added that this latest "spin" was so far the most "ludicrous and outrageous" explanation of the funds deposited into Najib's accounts.
"It has been said that once you tell a lie, you need to tell ten more lies to cover the first lie," Lim said in a statement today.

"But the latest spin that the RM2.6 billion deposited into Najib’s personal bank accounts originated from Saudi Arabia as an appreciation to Malaysia for championing Islam, fighting Isis and for practising Sunni Islam really takes the cake for being the most ludicrous and outrageous explanation so far."

Najib's claim was full of holes and could not hold up under scrutiny, Lim, the Gelang Patah MP said


Well, that changes everything, so this near $1 billion US dollars deposited into Najib Razak`s personal bank account wasn`t a political party donation but a personal gift for championing the fight against ISIS....Oh how noble, what a sweet gift, Christy Clark`s business partner...Stephen Harper`s Malaysian buddy..


 (Stephen Harper with Najib Razak pictured above)

Well, maybe Stephen Harper can enlist Najib Razak to help him in his Canadian campaign of fear...

Possibly, except we have a problem with the latest version of where and how this massive chunk of money came to be, because this money was deposited in Najib Razak`s personal bank account in March 2013....

And, ...first things first..

"What a tangled web we weave when first we practice to deceive"

Near $1 billion US dollars was deposited in Najib Razak`s personal bank account in March 2013...Then, fast-forward to a few months ago(in the year 2015)..... A whistle-blower reported that Najib Razak had nearly $1 billion US dollars in his bank account.

Najib Razak, clearly not thinking straight when confronted on the money by authorities..Razak claimed the money was a political election campaign donation from a anonymous Middle Eastern donor, to this day still anonymous, that was the meme and theme Najib Razak and his henchmen have been trying to sell to an ever more skeptical public..

Now today, August 18/2015

Najib Razak is changing his farcical political donation story...Najib Razak is now claiming the money deposited in March 2013 was a gift from the Middle East for speaking out against ISIS...

There is a problem with that new fairy tale, two problems actually...The first issue...There was no official ISIS entity in March 2013...The world, the USA, Canada, none of you readers, none of the world press knew of any group called ISIS in March 2013 because ISIS didn`t exist on the world stage.


 "In April 2013, ISIS announced that the Nusra Front in Syria was affiliated with al Qaeda and the two would work together in Syria and Iraq. There were reports that ISIS had waned in influence early in 2014 and in February, al Qaeda separated itself from ISIS. This may have accounted President Obama's comment that the group was "the jayvee team" – a reference to the apparent rise of the still AQ-affiliated Nusra Front at the expense of ISIS. But in June 2014, the Nusra Front was reported to have merged into ISIS, providing it with an additional 15,000 soldiers for its latest push across western Iraq.

ISIS has enormous financial reserves. When Iraqi forced killed the ISIS commander of Mosul in June 2014, they retrieved 160 computer flash drives – which the CIA, among others, has been combing for information. According to The Guardian newspaper, the drives contained "noms de guerre of all foreign fighters, senior leaders and their code words, initials of sources inside ministries and full accounts of the group's finances." A British official told the newspaper, "Before Mosul, their total cash and assets were $875 million. Afterwards, with the money they robbed from banks and the value of the military supplies they looted, they could add another $1.5 billion to that."
ISIS, then, was not unknown to American, British, Iraqi or other intelligence services before it began its streak across the Syrian-Iraqi border and the acquisition of territory in which it has declared its caliphate."

  • The Islamic State of Iraq in the Levant (ISIL), another name for the same group, started operations in Northern Syria following large demonstrations against Assad.[vi]
  • ISIL officially declared its governance over the Levant in April 2013
  • In August 2013, U.S. officials said ISIS leader Abu Bakr al-Baghdadi was operating from Syria, but directing suicide attacks in central Iraq[vii]
  • The group refocused efforts on Iraq-Syria border after fighting began with other rebel groups and Assad in late 2013 early 2014 [viii]
  • AQ Central and ISIS split due to differences over methodology and fighting in early 2014 [ix]
  • ISIS pushed deeper into Iraq, capturing Fallujah in Jan 2014[x] and Mosul in June.


So, in March 2013, a time in history when you, Canada, America(USA), United Kingdom, Canada`s leaders, Canada`s media never ever heard of the group ISIS...Najib Razak is now claiming the near $1 billion US dollars deposited in March 2013 in his personal bank account was given to him because he spoke against the ISIS threat and presumably, Razak kept quiet about this grand gift until...Until caught! ....Utter hogwash..

Calling it Hogwash is being poloite, it stretches the imagination, no, you Najib Razak must be lying, must really be corrupt, a bought politician..

Here is the smoking gun proof that Najib Razak is lying about the purpose of that money/bribe 

 Najib Razak is now saying.... The money deposited in March 2013 into his private bank account was because he was a staunch vocal opponent of the terrorist group ISIS...

Yet, on June 23th/2014...At a UMNO party function, UMNO are the initials of Najib Razak`s Malaysian political party...15 months after the money was deposited into his private bank account, at a partisan political UMNO dinner..

 Najib Razak said this about ISIS...


Be brave like ISIL fighters, Najib tells UMNO

Umno must emulate the bravery of a Middle Eastern militant group that defeated an Iraqi force outnumbering it nearly 30 to one if the Malay nationalist party is to survive, Datuk Seri Najib Razak said yesterday.
The Umno president and prime minister was listing virtues that were needed to allow the Malay nationalist party to continue in power, during a dinner to commemorate the 20th anniversary of its Cheras branch yesterday.
“For example, when someone dares to fight to their death, they can even defeat a much bigger team.

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Be brave like ISIL fighters, Najib tells UMNO

Umno must emulate the bravery of a Middle Eastern militant group that defeated an Iraqi force outnumbering it nearly 30 to one if the Malay nationalist party is to survive, Datuk Seri Najib Razak said yesterday.
The Umno president and prime minister was listing virtues that were needed to allow the Malay nationalist party to continue in power, during a dinner to commemorate the 20th anniversary of its Cheras branch yesterday.
“For example, when someone dares to fight to their death, they can even defeat a much bigger team.

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KUALA LUMPUR — Umno must emulate the bravery of a Middle Eastern militant group that defeated an Iraqi force outnumbering it nearly 30 to one if the Malay nationalist party is to survive, Malaysia’s Prime Minister Najib Razak said yesterday (June 23)

The Umno president and prime minister was listing virtues that were needed to allow the Malay nationalist party to continue in power, during a dinner to commemorate the 20th anniversary of its Cheras branch yesterday.

He said: “For example, when someone dares to fight to their death, they can even defeat a much bigger team.

“As proof — whether we agree or not is another matter — the group ISIL with the strength of just 1,300 people, can defeat an Iraqi army of 30,000 soldiers, until four, five generals with three, four stars run for their lives, jump out the window at night. Why? Because they are afraid of those who are brave,” he told more than 1,000 Umno members in attendance.

Apart from bravery, the five other virtues Mr Najib said Umno needed were to remain strong and relevant included obedience, loyalty, unity, excellence and sincerity. He also stressed the importance of being loyal to god, the party, and friends.

Mr Najib said having wisdom and foresight in battles as well as the ability to organise is also crucial in strengthening the party.

“Loyalty must not only be to the party but to the country as well, be brave to face the challenges. We must have the ability to adapt to changes and follow changes in the social media and technology.
We cannot just go into a battle without being prepared for the technical advancement. If there are people who are using Facebook to challenge us, we must fight back using Facebook. If they use online, we must also know how to fight back via online,” he said.

The Islamic State of Iraq in the Levant (ISIL) is a splinter group of al-Qaeda that wants to set up an Islamic caliphate encompassing both Iraq and Syria.

ISIL is viewed as a terror organisation by authorities both here and abroad.

A Malaysian suspected of being a member of ISIL was believed to have been the suicide bomber who killed 25 members of an Iraqi police team last month.
Earlier this month, three local men were arrested by police for suspected links to ISIL. AGENCIES


"What a tangled web we weave when first we practice to deceive"

Did you catch that harsh language from Najib Razak directed at ISIS, it sounded more like an ISIS recruitment speech than anything else..Remember, during that political speech by Razak he already had that money in his bank account for 15 months, ....He calls ISIS brave, Najib Razak places ISIS on pedestal in June 2014....If it doesn`t make sense it isn`t true  

So,,let us recap, Christy Clark and Stephen Harper are chummy with a corrupt bought politician...Najib Razak who found himself on the receiving end of $900 million US dollars, deposited in his personal bank account in March 2013....A time in history when no one never even heard of the group ISIS(including myself and I read everything, everywhere)...Earlier in 2015 a whistle-blower(now gone missing) reported on the massive amount of money in Najib Razak`s personal bank account....The shit hit the fan...Najib Razak fired cabinet ministers, the attorney general, he shut down the crime and corruption commission, shut down Malaysian media and arrested dozens, claimed the money was from an anonymous Middle East donor, and now today, August 18th/2015 Najib Razak and his henchmen are saying that this near $1 billion US dollars was a gift, an anonymous gift from the Middle East for speaking up against ISIS, speaking up against ISIS ????, are you kidding me.

In March 2013 ISIS was unknown to the world....

Christy Clark....At this stage of the Najib Razak corruption scandal, a scandal that directly involves Petronas, the people of British Columbia should not have to honour or adhere to any legislation your party and government drafted to please a bought, corrupt politician and corrupt energy company..

You Christy Clark can`t legally bind British Columbia`s financial future to a known criminal(s)..

The next BC Government will have a moral authority to shred any legislation you wrote as to LNG...

Stephen Harper...Christy Clark...Sukanto Tanoto...Najib Razak...

Embezzlers, tax evaders, Mass Murderers?, environmental criminals, all bound together by the ties that bind..

Members of the Bought Politician`s Club.

The Straight Goods

Cheers Eyes Wide Open

Datuk Seri Najib Razak last night outlined six virtues that Umno needed to survive and flourish in the country among which bravery, as displayed by some Middle East militants, was a requisite trait.
The Umno president said the party should emulate the exploits of a Middle Eastern militant group which defeated an Iraqi force outnumbering it.
“For example, when someone dares to fight to his death, he can even defeat a much bigger team,” he said, singling out the Islamic State in Iraq and the Levant (Isil).

Isil, a splinter group of al-Qaeda, wants to set up an Islamic caliphate encompassing both Iraq and Syria and has been classified as a terror organisation. - See more at:
Datuk Seri Najib Razak last night outlined six virtues that Umno needed to survive and flourish in the country among which bravery, as displayed by some Middle East militants, was a requisite trait.
The Umno president said the party should emulate the exploits of a Middle Eastern militant group which defeated an Iraqi force outnumbering it.
“For example, when someone dares to fight to his death, he can even defeat a much bigger team,” he said, singling out the Islamic State in Iraq and the Levant (Isil).

Isil, a splinter group of al-Qaeda, wants to set up an Islamic caliphate encompassing both Iraq and Syria and has been classified as a terror organisation. Malaysians are said to be linked to the group. One was believed to have been the suicide bomber who killed 25 Iraqi policemen last month while police here arrested three local men, believed to be members of the group, earlier this month.
“Whether we agree or not is another matter, the group Isil with the strength of just 1,300 people, can defeat an Iraqi army of 30,000 soldiers, until four, five generals with three, four stars run for their lives, jump out the window at night,” he said at a dinner to commemorate the 20th anniversary of the party’s Cheras Umno branch last night.
He said ISIL could defeat a bigger force simply because the latter was afraid of it.
Apart from bravery, the five other virtues Najib said Umno needed were to remain strong and relevant included obedience, loyalty, unity, excellence and sincerity.
"Loyalty must not only be to the party but to the country as well, be brave to face the challenges. We must have the ability to adapt to changes and follow changes in the social media and technology.
"We cannot just go into a battle without being prepared for the technical advancement. If there are people who are using Facebook to challenge us, we must fight back using Facebook. If they use online, we must also know how to fight back via online," he said.
Najib later launched a book titled “Buku Minda Syed Ali” and a special bulletin to commemorate Cheras Umno's 20th anniversary. – June 24, 2014.
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