Wednesday, April 08, 2015

This Day In Clarkland....Hey Nineteen.


It seems like only yesterday (i.e. February of 2013) that Princess Pammy was telling an entirely credulous (not to mention highly established and uber credible) Lotuslandian proMedia about the Trillion Dollar Sparkle Pony thingy:

And as for the here and now?

Not so much, as Brett Jang told us in yesterday's Globe. Here is his lede:

Most liquefied natural gas export projects are at risk of being cancelled in North America as a result of a looming global glut of LNG, putting a damper on British Columbia’s energy dreams.

Moody’s Investors Service Inc. issued a stark outlook for the fledgling North American LNG industry, arguing it doesn’t make economic sense to invest billions of dollars on each venture especially as Asian buyers slow down their LNG ordersfor new LNG supplies.

Moody’s said the “vast majority” of North American proposals face outright cancellation. “Many sponsors – including those in the U.S., Canada and Mozambique that have missed that window of opportunity as oil prices have declined – will face a harder time inking the final contracts, most likely resulting in a delay or a cancellation of their projects.”,” the credit rating agency said.

There are 19 B.C. LNG projects vying to export to Asia. They include 10 export licences that have been approved by the National Energy Board...

Cue Becker and Fagen (and a whole lotta background sweetening and horn play to make it all palatable)...

And, yes....GrantG has been on top of this thing since the beginning.



Hugh said...

Are you saying, then, that LNG will NOT:

1. erase BC's debt,
2. make us all rich,
3. solve global warming,
4. prevent hair loss?

North Van's Grumps said...

GrantG post on Pamela Martin Tweet

Anonymous said...

Anybody remember Northeast coal?

Same script.
different actors... mostly.