The lede of Andrew Nikiforuk's latest in The Tyee:
A new industry report warns investors, governments and regulators that renewable forms of energy could outcompete high-cost and high-risk liquefied natural gas projects.
The sheer volume of shale gas in North America has blinded many of its key promoters to an important dynamic: "Namely the fast progress of renewable energy technologies capable of providing an alternative to one or more of the major sources of demand for LNG, electricity production and in the future perhaps heating," the report found...
If one were so inclined, it would be easy to dismiss the above as little more than pure opinion and conjecture.
But even the wizards and the cronies can't ignore the following:
Malaysia’s state oil firm, Petroliam Nasional Bhd., or Petronas, is planning to slash as much as 50 billion ringgit ($11.4 billion) in capital and operating expenditure over the next four years, according to an internal memo sent to staff by its chief executive officer...
What to do?
Well, as is ever (and has always been?) the case....
Send in the Lotuslandian proMedia expectations lowering team!
Which, as you might expect, is currently being led by Mr. Obvious himself in the pages of the Globe and Mail:
...I doubt Ms. Clark is overly worried that her re-election prospects might be dimming because of LNG. The fact is, she has the No. 1 economy in the country, a privileged position B.C. is expected to hang on to for at least a couple of years, according to the Conference Board of Canada. Her government has tabled three consecutive balanced budgets, driven in part by a real estate and construction boom, making it the envy of the country...
All of which makes one wonder if the puffed-up punditry is even paying attention.
What's the real key here?....Well, the way I see it....As the shift to renewables begins earnest we the people (who have been paying attention and know what has happened to Hydro and who know that the budget has been balanced on our collective backs, and who know that just about every young family in this province that doesn't have a sugar daddy and/or an astronomical slushpile of astronaut dollars cannot afford to buy a house in Southwestern BC) must ensure that the cronies do not suck up all the public money/assets/treasure/regulatory favours and, most importantly, ridiculously unsustainable longterm contracts once again....Which is why that incident in Haida Gwaii wherein our fine Premier suddenly started shoveling money to a crony-aligned local candidate off the back of a hastily constructed podium does matter....Merv Adey has more on how the Lotuslandian proMedia expecations lowering team has completely ignored that story...Here (see point #4).