In his column on the pull-out of AltaGas from its proposed Douglas Channel-based floating LNG terminal, published in the VSun earlier today, Vaughn Palmer buried the lede.
Buried Corpse #1: "...Not a factor in the decision (by AltaGas), according to (Clarklandian Cabinet Minister With All Portfolios Rich) Coleman, was a threatened federal import duty on the floating facility, which would have been constructed offshore and towed to the site. The company recently secured a waiver on the duty, which might constitute a precedent if another developer wants to do a floating terminal in the future..."
WTF????!!!!-- AltaGas actually got a Kraut-Rock Ferry-like waiver (aka a 'get out of import tax jail free card') to build their terminal offshore which, of course, means no jobs there for British Columbians...And, what's more, that waiver might actually be worth money to the
Buried Corpse #2: "...The company (i.e. AltaGas) recently completed a $1 billion run-of-river hydroelectric project in Northwestern B.C..."
Jeebuz!!! A billion dollar investment that will pay back in spades based on the locked-in futures contracts that we, the non-cronified must pay for via increased Hydro rates in, essentially, perpetuity (see, again, Norm Farrell's post from earlier today)...The long arm of GordCo, Inc. strikes again!
And the ironic/sad/shocking thing about the above two buried corpses?
Based on my reading of the thing, it sure does look like the burying was actually done by the good Mr. Palmer in an effort to soften the blow of the AltaGas' Douglas Channel pull-out by showing that it's not all that bad after all, or some such thing.
Tip O' The Toque to Merv Adey on the Twittmachine for the heads-up.