This is indeed getting interesting, all the dirty rats squirming to get a piece of the action, the only problem is....There is still no game or arena in which to play in..
Paul Kariya(Run of river private power spokesman) is using First Nations support and power to turn the screw, an article appeard in the Vancouver Sun today titiled...
"First Nations Fear Being Cut Out Of LNG Boom"
A couple of months ago Bill Bennet(BC`s energy minister) announced 10 run of river projects have been cancelled while 9 others have been put way off into the future.. The reason this was done is BC Hydro is losing $billions of dollars on purchasing high-priced run of river power, power no one will buy anywhere near the price we pay, $130 dollar per mega-watt hour while electricity on the spot market is around $30 dollars, there is even almost free power from other jurisdictions at night....stopping further run of river projects from happening is the only smart thing Christy Clark`s BC Liberals have done...
And that announcement sent shockwaves through the run of river plunderer`s world, no more free cream, no more guaranteed largesse all coming from the backs, shirts and sweat of BC Hydro ratepayers..As your BC Hydro rates are scheduled to rise by 70% over the next three years as it is, all that harm caused by Gordon Campbell`s run of river ponzi scheme, Gordo`s public dollar theft, dollars funneled to his corporate friends...
So now comes Paul Kariya squirming out from beneath his rock, trying to use First Nations as leverage to force the B.C. Government to order BC Hydro to acquire $billions of dollars more of high-priced run of river electricity to power LNG plants on the coast!!!!
Wake the hell up Paul Kariya, you son of bitch...Let me be clear and succinct, GO TO HELL...
First off, LNG plants require enormous gobs of energy, reliable 24/7 energy 365 days a year, something run of river can`t deliver..Second..LNG producers want dirt cheap power, they want power at a fraction of the cost we BC Consumers pay, yet run of river power contracts are at 5 times the going spot market rate and 10 times the rate big industry pays now...So my question to you Paul Kariya is..
Who do you suggest subsidizes the LNG producers electrical power needs, do you want Joe Public to pay?..The BC Government to pay?...Who...LNG producers want virtually free-power and you Paul Kariya are proposing LNG producer use gobs of high-priced run of river power that your association can build, providing you get guaranteed 30, 40, 60 year contracts..You and Gordon Campbell have already destroyed BC Hydro and busted ratepayers...Go crawl back under your rock...And one more thing..
NO LNG companies have agreed to build anything in BC, nothing..no final investment decisions, shouldn`t we wait for energy companies to make a final investment decision first????...Which brings me to another angle..Let`s crunch some numbers..
Christy Clark during the election stated British Columbia could receive anywhere from $180 BILLION TO $260 BILLION OVER 30 years from LNG revenues...and Christy also promised the lowest LNG tax regime in the world..It doesn`t add up, not even close...Here is the problem, according to rumours and one article the BC LNG tax regime will be as such...If energy companies sell LNG at a low price the tax will be low, if they sell LNG at a high price the tax will be higher..That is a recipe for disaster..take Petronas for example, they will be selling LNG to themselves at super low prices thus avoiding high taxation, and that opens up the entire taxation scheme to fraud, energy companies can sell LNG gas to subsudiary companies cheap to avoid taxation..Just think about it, a energy company that sells LNG cheap will pay a puny tax, while a energy company that inks a lucrative energy buying contract gets punished with high taxation..
THE EXACT SAME THING IS HAPPENING IN ALBERTA, ENERGY COMPANIES ARE SELLING BITUMEN TO REFINERS FOR A DISCOUNTED PRICE, THESE ENERGY COMPANIES IN ALBERTA AVOID PAYING ROYALTIES BECAUSE THEY ARE ALMOST LOSING MONEY ON PAPER WHILE THE REFINERS WHO AREN`T SUBJECT TO ROYALTIES REAP MASSIVE PROFITS, THE REFINERS AND TAR GOOP PRODUCERS ARE ONE OF THE SAME, IT`S A SCAM TO AVOID PAYING ROYALTIES AND WHY ALBERTA HAS RUN UP DEFICITS FOR 6 STRAIGHT YEARS, ...IT IS A CORPORATE TAX AVOIDING SCAM..
And here is the article on BC`s taxation scheme..
And Gordon Hoekstra has a real good read on LNG, he highlights how there are no final investment decisions, no pipelines built, no infrastructure, nothing...
"While B.C. has collected significant revenues from natural gas in the past decade, peaking at $1.9 billion in royalties in the 2005-2006 fiscal year, that had dropped to $339 million by 2011-2012.
If five LNG plants are built, the province estimates it will collect between $130 billion and $260 billion in related revenue, including from existing provincial taxes and royalties, over the life of those plants.
On average, that would mean B.C. would collect $4.3 billion to $8.7 billion a year in LNG revenues."