November 14, 2017

Alaska lands $43B LNG investment from China as BC dithers

Christopher WilsonRebel Commentator

After concluding his trip to Beijing with China’s President Xi, President Trump announced the signing of nearly $250 billion in deals that would benefit the US.

Among them was a $43 billion LNG proposal between Sinopec and the Bank of China partnering with the Alaska Gasline Development Corp., to ship gas from northern to southern Alaska where it will be liquified and shipped to China.

This is a tough pill for British Columbians to swallow after our province saw an exodus of proposed capital for our LNG industry ambitions.

First Petronas cancelled their $36 billion Pacific Northwest LNG project, then the $28 billion Aurora LNG Project backed by NEXEN a Canadian subsidiary of Chinese oil giant CNOOC, was cancelled.

China was willing to invest billions in North America for LNG, just not in Canada’s uncertain regulatory environment.

There is a market for multi-billion dollar LNG export facilities on the west coast of North America, which is why this announcement stings BC and Canada the most.

Can we at least acknowledge that BC's job killing carbon tax is a negative force that has been detrimental to landing investment in this province?

As Catherine McKenna talks about the evils of coal this week at COP23 in Bonn, Germany, what we don't hear from her or anyone there, is an admission that the most reliable and affordable way to transition the developing world off coal while not increasing energy poverty is to move to cleaner-burning natural gas.

So why won't Canada's climate crusaders acknowledge this simple fact?

Well, doing so would mean they could no longer demonize the oil and gas industry and they’d have to concede that renewables are unreliable whereas natural gas is part of the future.

 

Comments
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commented 2017-11-19 11:48:38 -0500 · Flag
Weird that everyone seems to have swallowed the official line on the Sinopec announcement. It’s a prelim deal with nothing binding – significant likelihood that it was done mainly for optics during the summit. Swallowed hook, line, and sinker by so many. Show me the money, don’t just talk about it.
commented 2017-11-15 07:00:44 -0500
Like I said last week there is a difference between Canadian LNG and USA LNG theirs gets to market . I’m sure climate Barbie will spin it as a win for Canada some weird way or another . But the truth is LNG will still be used it just won’t be ours . And all you hear from the left crickets . The good ship Canada going down the economic toilet .
commented 2017-11-15 04:25:50 -0500
Anybody who has ever been to Ft. St. John in the Peace River Country, and ventured even a few miles outside the city core, will know that as far as the eye can see across the rolling plain, there are hundreds and hundreds of capped natural gas wells stretching out to the horizon… Enough gas to power the Canadian economy for hundreds of years… Not using that God given resource?…Madness personified…
commented 2017-11-15 04:20:01 -0500
To put this in very sharp focus: – Even two years ago there were up to 11 LNG port proposals on the books up and down the coast, for creating a booming British Columbia economy for dozens of years to come… NOW THERE ARE NONE!… And the insane Horgan/Weaver Tango in Victoria are trying very hard to justify killing the half completed Site C hydro project on the Peace River as well… Once again the river vultures circling the just blown up Bridge On The River Kwai, while a voice intones – “Madness.. Madness….”
commented 2017-11-15 01:18:51 -0500
Billy Howard at least Justin is doing some good, FOR ANOTHER COUNTRY.
commented 2017-11-15 00:11:59 -0500
Welcome to the northern version of Venezuela !
commented 2017-11-14 23:29:46 -0500
Well…we’re screwed. That’s all I have to say.
commented 2017-11-14 22:56:08 -0500
Accurate content and well presented Chris. I believe this will be America’s 12th LNG terminal with another 8 planned. Also, the process of exploring, drilling and producing natural gas for this project will create decades of royalties, taxes, philanthropy and good paying jobs for Alaskans. Like Alberta used to be without the equalization. America wins again. Did you know, Trans Canada will be changing their name as most of their business and employees are now outside Canada.

NG will reduce China’s CO2 and future health care costs big time. But pipeline and distribution infrastructure is required. Who do you think they will call?
commented 2017-11-14 21:41:54 -0500
Infuriating, disappointing, ridiculous abrogation of duty to ones’s country. Not surprising since this is how the governments in Canada roll these days. There will be a lot to do when we get these clowns out.
commented 2017-11-14 21:40:04 -0500
WILSON, great report
These are planned sabotage on the economy of parts of Canada, this is criminal sabotage
We are all getting FED Liberal up with our CRIMEMINISTER!!!!!!!!!!!!!
commented 2017-11-14 19:53:15 -0500
That’s my old Forest Service buddy, George Heyman. Way to go, George! We, your former Forest Service compatriots, couldn’t possibly be more proud of you. I’m sure we all agree that the needs of people who actually work for a living are insignificant compared to…. well I don’t know exactly compared to what, but whatever it is I’m sure it’s VERY important. Otherwise, my good friend, George Heyman, wouldn’t support it, would he?
commented 2017-11-14 19:34:17 -0500
That’s nothing, if there is no NAFTA deal, watch Southern Ontario Business run for Welcoming Detroit and low taxes. The new unemployed will stay in Ontario though.
commented 2017-11-14 19:26:35 -0500
Iain Foulds—-Trumps Twitter announces billions for the US economy, while
Trudeau’s Twitter costs billions for the Canadian economy.
Surely even the Left should recognize this as Trudeau’s term runs out.
commented 2017-11-14 19:23:12 -0500
Ideologues care not about the suffering they impose on people of any persuasion. They only care about their ideology and how they can personally profit from it. We see the profit motive from the LPC, LPO, Alberta New Demoncrats, BC Ruling Greens with New Demoncrat wooden puppets. We see the suffering from increased divorce rates, abuse rates and suicide rates. Yep…the Canadian regressive movement puppets, Baby Doc, Wynne, Notley, Weaver/puppet Horgan are doing the job.
commented 2017-11-14 19:22:49 -0500
It’s ironic that while Trudeau hates Trump, he’s doing all he can to send LNG, manufacturing, and general economic benefits to the US.
Justin is actively working to re-elect Donald Trump by helping to boost the US economy. Go figure.
commented 2017-11-14 19:12:44 -0500
Seems Trump has exposed another lie by Jihadi Justin and the Left by this deal with China involving Alaska. You won’t hear about this from the Communist Broadcasting Corporation though! Too focused on socks and selfies of the Crime Minister!
commented 2017-11-14 19:09:52 -0500
… A personal triumph for President Trump. It never would have happened with Obama.
… Trudeau’s triumph? Some selfies in a Philipino chicken joint.