Tuesday, July 07, 2015

This Day In Clarkland...The 25 Year Petronas 'Adverse Change Event' Lock.


I'll leave the number crunching to Norm, but the following are the specific components of the adverse change event 'insurance' that we are locking ourselves into, taken directly from the agreement that the Clarklandian wizardry has 'negotiated' with the fine folks from Malaysia:


The Dean, Mr. Palmer, already has a piece up in the VSun, which is, essentially, number crunched-free as well.

But it does include the following most interesting "can you get through the next election scot- free?" bit of back and forth:

...The agreement sets out a possible timeline for Pacific NorthWest LNG, starting with enactment of the enabling legislation and the province taking the necessary steps to bring it into force. The Liberal majority should have all that in place before the end of summer.

The proponent then has 24 months to fulfil a number of conditions including front-end engineering and design, securing federal environmental approval, lining up financial resources and entering into a final investment decision.

Noting that the 24-month grace period could leave the project in flux until the summer of 2017, I asked de Jong if the timeline was crafted to carry the government and the proponent past the next provincial election.

Not at all, he replied. The Liberals have not expended “a lot of intellectual capital” on the possibility that the proponent, once the necessary approvals are in hand, will balk at going ahead. “It seems abundantly clear that is their intention and their wish.”...

Which begs the question....

What, exactly, do Cookie Dough Mike and his fellow Clarklandians expend their 'intellectual capital' on these days anyway?


And, yes, the 'agreement' released to the public really does look like it was loaded, page-by-page, into a pre-millenial HP combi-scanner by a six year old...The darned thing isn't even square for Pete's sake.



Anonymous said...

And I noted where DeJong went from Christy's 100,000 jobs to 4500 jobs.

Bunch of Buffoons I tell yeah. !!!

RossK said...


And those are the construction jobs not the 'permanent' jobs...


Anonymous said...

Ditzy Christy campaigned on 100,000 LNG jobs for BC people. There were also her thousands of six figure wage mine jobs. Now Ditzy Christy is pumping thousands of jobs, from the Enbridge pipeline. All lies, deceit, and those jobs don't exist for the people of BC. As usual Christy is all el torro poo poo. Christy said, she was fast tracking foreigners to fill her thousands of resource jobs. China is bringing over their own cheap labor.

Not even experienced miners can find any of Christies thousands of mine jobs nor, any resource jobs. One Engineer fella has been applying for three years. The search on line for BC jobs, don't exist either. None of the resource jobs posted on the other search sites, don't exist either.

Who is the biggest liar? Harper, Gordon Campbell or Ditzy Christy?

North Van's Grumps said...


Anonymous said...

It's inconceivable that anyone or any political party could tell such big lies for so long. And that is why, unfortunately, so many voters and members of the public believe them!

Lew said...

The acronym for Adverse Change Event is ACE. Guess who is holding all the ACES?

Hint. It isn’t us.

RossK said...



And as for the (already downgraded) jobs numbers...Whose to say what percentage (if any) will actually go to actual British Columbians...


North Van's Grumps said...

July 6, 2015 Ministry of Finance
News Release Province releases first LNG Project Development Agreement