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garden bay, west coast, Canada
persistent digging,never say never

Sunday, October 21, 2012

Christy Clark, BC Liberals, Fiscally Challenged

In her heart, in her heart she is praying the media beat up the NDP and promote her idiocy..

Below is the North America Henry Hub for natural gas....Those are indeed long-term price contracts
MonthChartsLastChangePrior
Settle
OpenHighLowVolumeHi /
Lo Limit
Updated
Nov 2012

3.597 a-0.0203.617---05.117
2.117
4:02:41 PM CT
10/21/2012        
Dec 2012

--3.947---05.447
2.447
4:05:08 PM CT
10/21/2012        
Jan 2013

--4.069---05.569
2.569
4:00:00 PM CT
10/21/2012        
Feb 2013

--4.073---05.573
2.573
4:00:00 PM CT
10/21/2012        
Mar 2013

--4.026---05.526
2.526
4:00:00 PM CT
10/21/2012        
Apr 2013

--3.966---05.466
2.466
4:00:00 PM CT
10/21/2012        
May 2013

--3.983---05.483
2.483
4:00:00 PM CT
10/21/2012        
Jun 2013

--4.015---05.515
2.515
4:00:00 PM CT
10/21/2012        
Jul 2013

--4.052---05.552
2.552
4:00:00 PM CT
10/21/2012        
Aug 2013

--4.069---05.569
2.569
4:00:00 PM CT
10/21/2012        
Sep 2013

--4.071---05.571
2.571
4:00:00 PM CT
10/21/2012        
Oct 2013

--4.107---05.607
2.607
4:00:00 PM CT
10/21/2012        
Nov 2013

--4.199---05.699
2.699
4:00:00 PM CT
10/21/2012        
Dec 2013

--4.383---05.883
2.883
4:00:00 PM CT
10/21/2012        
Jan 2014

--4.487---05.987
2.987
4:00:00 PM CT
10/21/2012        
Feb 2014

--4.457---05.957
2.957
4:00:00 PM CT
10/21/2012        
Mar 2014

--4.362---05.862
2.862
4:00:00 PM CT
10/21/2012        
Apr 2014

--4.155---05.655
2.655
4:00:00 PM CT
10/21/2012        
May 2014

--4.160---05.660
2.660
4:00:00 PM CT
10/21/2012        
Jun 2014

--4.179---05.679
2.679
4:00:00 PM CT
10/21/2012        
Jul 2014

--4.207---05.707
2.707
4:00:00 PM CT
10/21/2012        
Aug 2014

--4.225---05.725
2.725
4:00:00 PM CT
10/21/2012        
Sep 2014

--4.227---05.727
2.727
4:00:00 PM CT
10/21/2012        
Oct 2014

--4.265---05.765
2.765
4:00:00 PM CT
10/21/2012        
Nov 2014

--4.340---05.840
2.840
4:00:00 PM CT
10/21/2012        
Dec 2014

--4.529---06.029
3.029
4:00:00 PM CT
10/21/2012        
Jan 2015

--4.635---06.135
3.135
4:00:00 PM CT
10/21/2012        
Feb 2015

--4.600---06.100
3.100
4:00:00 PM CT
10/21/2012        
Mar 2015

--4.508---06.008
3.008
4:00:00 PM CT
10/21/2012        
Apr 2015

--4.283---05.783
2.783
4:00:00 PM CT
10/21/2012        
May 2015

--4.297---05.797
2.797
4:00:00 PM CT
10/21/2012        
Jun 2015

--4.318---05.818
2.818
4:00:00 PM CT
10/21/2012        
Jul 2015

--4.355---05.855
2.855
4:00:00 PM CT
10/21/2012        
Aug 2015

--4.374---05.874
2.874
4:00:00 PM CT
10/21/2012        
Sep 2015

--4.377---05.877
2.877
4:00:00 PM CT
10/21/2012        
Oct 2015

--4.413---05.913
2.913
4:00:00 PM CT
10/21/2012        
Nov 2015

--4.496---05.996
2.996
4:00:00 PM CT
10/21/2012        
Dec 2015

--4.681---06.181
3.181
4:00:00 PM CT
10/21/2012        
Jan 2016

--4.783---06.283
3.283
4:00:00 PM CT
10/21/2012        
Feb 2016

--4.752---06.252
3.252
4:00:00 PM CT
10/21/2012        
Mar 2016

--4.671---06.171
3.171
4:00:00 PM CT
10/21/2012        
Apr 2016

--4.456---05.956
2.956
4:00:00 PM CT
10/21/2012        
May 2016

--4.473---05.973
2.973
4:00:00 PM CT
10/21/2012        
Jun 2016

--4.497---05.997
2.997
4:00:00 PM CT
10/21/2012        
Jul 2016

--4.536---06.036
3.036
4:00:00 PM CT
10/21/2012        
Aug 2016

--4.556---06.056
3.056
4:00:00 PM CT
10/21/2012        
Sep 2016

--4.559---06.059
3.059
4:00:00 PM CT
10/21/2012        
Oct 2016

--4.596---06.096
3.096
4:00:00 PM CT
10/21/2012        
Nov 2016

--4.683---06.183
3.183
4:00:00 PM CT
10/21/2012        
Dec 2016

--4.872---06.372
3.372
4:00:00 PM CT
10/21/2012        
Jan 2017

--4.974---06.474
3.474
4:00:00 PM CT
10/21/2012        
Feb 2017

--4.943---06.443
3.443
4:00:00 PM CT
10/21/2012        
Mar 2017

--4.862---06.362
3.362
4:00:00 PM CT
10/21/2012        
Apr 2017

--4.647---06.147
3.147
4:00:00 PM CT
10/21/2012        
May 2017

--4.665---06.165
3.165
4:00:00 PM CT
10/21/2012        
Jun 2017

--4.691---06.191
3.191
4:00:00 PM CT
10/21/2012        
Jul 2017

--4.731---06.231
3.231
4:00:00 PM CT
10/21/2012        
Aug 2017

--4.751---06.251
3.251
4:00:00 PM CT
10/21/2012        
Sep 2017

--4.755---06.255
3.255
4:00:00 PM CT
10/21/2012        
Oct 2017

--4.792---06.292
3.292
4:00:00 PM CT
10/21/2012        
Nov 2017

--4.890---06.390
3.390
4:00:00 PM CT
10/21/2012        
Dec 2017

--5.077---06.577
3.577
4:00:00 PM CT
10/21/2012        
Jan 2018

--5.180---06.680
3.680
4:00:00 PM CT
10/21/2012        
Feb 2018

--5.149---06.649
3.649
4:00:00 PM CT
10/21/2012        
Mar 2018

--5.068---06.568
3.568
4:00:00 PM CT
10/21/2012        
Apr 2018

--4.856---06.356
3.356
4:00:00 PM CT
10/21/2012        
May 2018

--4.874---06.374
3.374
4:00:00 PM CT
10/21/2012        
Jun 2018

--4.902---06.402
3.402
4:00:00 PM CT
10/21/2012        
Jul 2018

--4.943---06.443
3.443
4:00:00 PM CT
10/21/2012        
Aug 2018

--4.963---06.463
3.463
4:00:00 PM CT
10/21/2012        
Sep 2018

--4.968---06.468
3.468
4:00:00 PM CT
10/21/2012        
Oct 2018

--5.006---06.506
3.506
4:00:00 PM CT
10/21/2012        
Nov 2018

--5.112---06.612
3.612
4:00:00 PM CT
10/21/2012        
Dec 2018

--5.320---06.820
3.820
4:00:00 PM CT
10/21/2012        
Jan 2019

--5.428---06.928
3.928
4:00:00 PM CT
10/21/2012        
Feb 2019

--5.397---06.897
3.897
4:00:00 PM CT
10/21/2012        
Mar 2019

--5.316---06.816
3.816
4:00:00 PM CT
10/21/2012        
Apr 2019

--5.104---06.604
3.604
4:00:00 PM CT
10/21/2012        
May 2019

--5.124---06.624
3.624
4:00:00 PM CT
10/21/2012        
Jun 2019

--5.152---06.652
3.652
4:00:00 PM CT
10/21/2012        
Jul 2019

--5.195---06.695
3.695
4:00:00 PM CT
10/21/2012        
Aug 2019

--5.216---06.716
3.716
4:00:00 PM CT
10/21/2012        
Sep 2019

--5.222---06.722
3.722
4:00:00 PM CT
10/21/2012        
Oct 2019

--5.262---06.762
3.762
4:00:00 PM CT
10/21/2012        
Nov 2019

--5.371---06.871
3.871
4:00:00 PM CT
10/21/2012        
Dec 2019

--5.591---07.091
4.091
4:00:00 PM CT
10/21/2012        
Jan 2020

--5.702---07.202
4.202
4:00:00 PM CT
10/21/2012        
Feb 2020

--5.671---07.171
4.171
4:00:00 PM CT
10/21/2012        
Mar 2020

--5.590---07.090
4.090
4:00:00 PM CT
10/21/2012        
Apr 2020

--5.378---06.878
3.878
4:00:00 PM CT
10/21/2012        
May 2020

--5.400---06.900
3.900
4:00:00 PM CT
10/21/2012        
Jun 2020

--5.430---06.930
3.930
4:00:00 PM CT
10/21/2012        
Jul 2020

--5.475---06.975
3.975
4:00:00 PM CT
10/21/2012        
Aug 2020

--5.497---06.997
3.997
4:00:00 PM CT
10/21/2012        
Sep 2020

--5.503---07.003
4.003
4:00:00 PM CT
10/21/2012        
Oct 2020

--5.543---07.043
4.043
4:00:00 PM CT
10/21/2012        
Nov 2020

--5.655---07.155
4.155
4:00:00 PM CT
10/21/2012        
Dec 2020

--5.880---07.380
4.380
4:00:00 PM CT
10/21/2012        
Jan 2021

------0--
Feb 2021

------0--
Mar 2021

------0--
Apr 2021

------0--
May 2021

------0--
Jun 2021

------0--
Jul 2021

------0--
Aug 2021

------0--
Sep 2021

------0--
Oct 2021

------0--
Nov 2021

------0--
Dec 2021

------0--
Jan 2022

------0--
Feb 2022

------0--
Mar 2022

------0--
Apr 2022

------0--
May 2022

------0--
Jun 2022

--2.429---0No Limit4:15:00 PM CT
6/1/2012          
Jul 2022

--2.774---0No Limit4:15:00 PM CT
6/29/2012         
Aug 2022

--3.010---0No Limit4:21:54 PM CT
7/27/2012         
Sep 2022

--2.634---0No Limit4:15:00 PM CT
8/31/2012         
Oct 2022

--3.023---0No Limit4:15:00 PM CT
9/28/2012         

....................................

Well well well........What we have here is the North American Henry Hub prices for natural gas futures, have a good look....

As you know,. Christy Clark has been talking about the $trillions we will make on exporting LNG to Asia..They do pay more for LNG in Asia, for now, but because of a glut of gas...

Christy Clark talks about a price $18 to $20 dollars per million BTU`s, these are the numbers the BC Liberals are bandying around....Oh indeed, how foolish..

There is a glut, as reported in The Straight Goods article..

Chinese tigers playing with Canadian sheep, only the very naive would expect those numbers to be realistic, considering China has the world`s largest domestic supply in the world, China won`t be held hostage, ...But the realistic truth has never stopped the BC Liberals from spinning lies, in fact in their current crop of ads on TV, the BC Government actually states this in their ads...

"$1 trillion dollars for British Columbia"

That number is flashed on the TV screen on the top left hand corner of their ad, no context of how, what, when or why they came to that number, they just throw that number out there for domestic consumption, it borders on false advertising, and after the latest current events in the LNG export game, it`s definitely false advertising...

Everybody is racing for Chinese long term LNG buying contracts, well guess what, the North American benchmark has been set..Cheniere energy has set the benchmark and it`s tied to the Henry Hub..




BG Group, one of the world's biggest LNG players, has access to import markets across the globe: last year it exported LNG to 19 different countries, its website said. Anywhere from Japan to China to Chile could soon be importing U.S. gas.
Cheniere will sell the LNG to BG for 115 percent of U.S. benchmark Henry Hub prices, plus a $2.25 premium.

"The 15 percent will be used for fuel and sourcing the gas, so we will make $2.25 (per million British thermal units)," Souki said.

"We haven't decided where we will source the gas from. It will either be from the market or through a supply deal," he said.
Sabine Pass will have an initial capacity to export 9 million tonnes per year. Cheniere expects to announce another supply deal soon, Souki said.
Five projects across the United States and two in western Canada have applied for construction and export licenses, seeking long term deals predominantly with buyers in Asia where prices are four times higher than those in the United States.
"The United States is probably going to end up being a major exporter of natural gas in the coming years," said Phil Flynn, analyst with PFGBest Research in Chicago.
Cheniere is the only project in the United States with a license to ship LNG across the globe. It is now waiting for approval to start construction at Sabine Pass, which will source gas from prolific shale fields in the southern United States for thirsty Asian markets.


 http://www.reuters.com/article/2011/10/26/us-lng-cheniere-idUSTRE79P3DO20111026
_____________________________


Pay special attention to those above numbers, pay even more attention to the Henry Hub long term LNG prices..

Cheniere energy has priced export to Asia LNG at....115% of the Henry Hub price...

So let`s use a $4.00 price, ....115% of that price is...$4.60....Plus a $2.25 premium, that brings the price to.....

$6.85 per million British thermal units(BTUs)...

At that price LNG plants in British Columbia won`t be built, it barely justifies the build cost, for one must calculate the cost of power to turn Natural gas into liquid LNG for export...

Can a company make money at that price?..Perhaps, but only with subsidized electrical power, in other words you the domestic customer of BC Hydro will have to pay the electric bill for these proposed LNG exporters..

Ironic don`t you think...Gordon Campbell and one-time finance minister Colin Hansen blamed tanking natural gas prices for their after-the-last-election-surprise-$4 billion dollar deficit and more recently Mike De Jong blamed low natural gas prices for another budget deficit, this one being $1.4 billion dollars and now the Christy Clark led version of the BC Liberal Government is running advertising to BCers in which the number...

$1 trillion dollars for British Columbia is being tossed around like a football, 5 LNG plants will be up and running by 2020, that too is being tossed around...Yet the big players are already waffling at building the first one and...

And the fiscal incompetent BC Liberals have signed nearly $60 billion dollars of long-term energy from run of river IPPs, we are paying well over $100 per mega-watt hour, we are giving it away and or selling it at a loss, all on the backs of you, the domestic hydro-electric user...Now we will have even more power to lose money on..

Dalton Mcguinty screwed Ontario with lucrative long-term energy buying contracts, and here in BC our BC Liberals screwed us too...

The cart before the horse, counting chickens before they hatched, or in British Columbia`s case, the dumb and dumber!

The Straight Goods

Cheers Eyes Wide Open


3 comments:

Crankypants said...

This whole series of ads is just one more poke in the eyes of the taxpayers by CC and Co. They are full of nothing but falsehoods which has been the trademark of our Provincial government ever since the BC Liberal Party gained control of the Legislature in 2001.

The only thing I find more objectionable is that they are funding these partisan electioneering ads with taxpayers funds rather than their own party's money.

Cam

Anonymous said...

Same as Christy securing thousands and thousands of jobs for BC. Christy forgot to mention, all the jobs in BC, are for the Chinese. 2000 Chinese are on their way, to work BC mines. Campbell has already given China our mills, along with our raw logs.

Same as in the tar pits, Harper also gave Communist China those jobs too.

Christy Clark works for Harper, as Campbell did before her.

I read about, China's vast gas fields too.

China has laughed, all the way to the bank. Can't blame them for laughing at, the stupidity of Harper and the Campbell/Clark BC Liberals.

Anonymous said...

http://www.canadianbusiness.com/article/102193--why-investors-should-pray-for-obama

Interesting article.
Let's see, in BC and Canada, liberals and conservatives=republicans, right? So let's take a look at the history from the article posted. Who are the better managers?