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LNG project a ‘political ruse’
To the Editor,
Re: Clark to press for LNG development, May 25.
Is Christy Clark playing yet another shell game with us?
We know that it takes huge amounts of energy to make liquefied natural gas. One could burn it to produce the energy needed for the liquefaction process, something not ‘green’, carbon neutral or cost effective.
To make the LNG projects work requires large amounts of cheap hydro electricity. Which means that the Site C dam must be approved and built without further environmental or other considerations. This will cost at least $7.9 billion. Add this to the billions of already deferred debts B.C. Hydro holds.
Of course, as Japan and the other potential customers for our LNG find greener, cheaper and renewable sources of energy, our market will dry up, leaving us to face huge losses, while having a great excess of hydro power.
The indebted B.C. Hydro, left with no ready market for the Site C power, will be broke. So, the government of the day will be faced with the need to sell all of B.C. Hydro’s assets.
Perhaps there is already a back room deal arranged for the sale to an American conglomerate like General Electric, being the second largest company in the U.S.
This reminds me of the B.C. Rail deal, where it went deep into debt upgrading an infrastructure that would last for years, only to have it sold to an American company that has been making huge profits ever since.
B.C. Hydro, once the crown jewel of Crown corporations, one which has fed many hundred millions of dollars into the government coffers, will be gone.
The LNG projects seem to me to be nothing much more than a ruse, to be played out, yet again on the taxpayer, for an ulterior motive.