CredibilityVille
Norm Farrell has the lowdown on the sudden rush of the Lotuslandian proPunditry to downgrade the LNG Sparkle Ponies.
Here's a chunk of Norm's post:
...Vaughn Palmer did his part this week, recounting how pre-election talk of a debt-free province rolling in cash from gas royalties was merely aspirational. Baldrey does not suggest that Christy Clark and friends were lying. Instead, he blames citizens for Liberal deceit,
"People seem to at least want to believe the fairy tale-like talk about billions of dollars coming our way to help eliminate the provincial debt and even the sales tax."
Regular readers here will be better informed than our timid reporter but I'll recount the numbers that Baldrey ignored.
Unrecorded credits owed gas producers have been growing steadily. These liabilities, which total $1.2 billion at the end of fiscal year 2014, will reduce future royalty payments. While Global's reporter states that royalty revenues were "a measly $169 million in 2012-13," he fails to mention that the future royalty credits owed producers grew by $160 million in that same year. Were the province not inventing its own accounting standards, the gas royalty revenue would have been reported as an even more measly $9 million.
The province's Budget and Fiscal Plan, dated February 18, 2014, reported 2013/14 royalties of $368 million in fiscal 2014, not the "half-billion dollars or so" that Baldrey writes. However, credits owed gas producers grew another $316 million so the net royalty revenue for the fiscal year was $52 million, not $500 million or so.
Go read Norm's entire piece....You will not be disappointed.
And the bonus?
You get (way, way, way) more than five free reads a month before you hit the non-existent paywall over at Northern Insight.
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Hey folks....Does anybody know what, exactly the VSun's new leaky paywall protocol is?...I don't think I even got three free reads before I hit the bricks recently...I would be willing to have a go at a subscription if it was reasonable...But 10 bucks a month after the 99 cent bait-and-switch?...Are they joking?
And just to be clear...I do support folks that produce content...Thing is I mostly throw my coin the way of the independents...
Idiot bloggers?....Well, just in case you missed it....It's detailed here.
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5 comments:
Really? You'd consider paying for The Sun? Jeebus.
I'd only pay for the Sun if they accepted my turds in exchange for theirs. Worst big city rag in Canada bar none-including The Toronto Sun.
Absurd that Vancouver should be so poorly served but then Vancouver itself is absurd.
Ahhhhh Dana--
You always make me re-think my thinking when I haven't really thought things through thoughtfully enough.
Or some such thing.
(but even after all that re-thinking... ya, I'd pay a digitial only fee that was appropriate)
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I would too for a digital paper worth paying for. Not for the current iteration, writers and staff of The Sun tho.
See I remember when The Sun was a good paper and I'm permanently angry and unforgiving toward the greed monkeys, influence peddlers and ink stained whores who ruined it.
I won't pay them anything except except bus fare out of town.
Well after all? Don't many people still enjoy, reading the funny papers? Try the Sun, the best funny papers in all of Canada.
The Sun is also Harper and the Campbell/Clark BC Liberals, favorite propaganda machine.
I tell many people on comment boards to, head on over to the Sun where, they *rightly* belong.
And the 2 reporters spouses that made 1.2 million worked for who.?
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