Monday, September 12, 2016

Where Everybody Knows His Name...

ATrueAssetTo
BritishColumbiaVille


Norm!

Writing on BC Hydro in The Tyee.

Here is Mr. Farrell's kicker:

...BC Hydro came into existence because private enterprise failed to meet power needs and a premier stood up for citizens who faced electricity prices set at punishing levels.

Now, badly managed BC Hydro is trending toward failure unless electricity prices are raised to punishing levels. Unlike W.A.C. Bennett, B.C.’s current premier is not standing up for citizens and small businesses.

With more than $50 billion in contractual obligations to private power producers, billions committed to Site C construction and billions in deferred expenses that will have to be covered in the future, BC Hydro faces a crippling financial crisis.

Special interests and private companies are benefiting. And the public will pick up the bill...



If you haven't already, go read it all.


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16 comments:

astrom47 said...

It is a great article and so very true. This BC Liberal gov't is destroying BC Hydro, even though it is a cornerstone of our province.

RossK said...

astrom47--

Which begs the question...Do the architects of the destruction actually understand what they're doing?

(the fact that they won't go to the BCUC with Site C suggests that, perhaps the answer is yes)


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astrom47 said...

Your second statement seems to answer the question. However I don't believe they know what they are doing, esp. with regards to BC Hydro.

Lenin's Ghost said...

They know exactly what they are doing. Feeding there construction buddies on site C and there crony supporters with the hydro obligations. Nothing vague about it.
The don't give a shit about the taxpayers. Never have. Poopheads!

Anonymous said...

Bill Bennet thought we would be reassured that although BC Utilities Commission was excluded from considering Site C development, he had it carefully vetted by KPMG LLC Accounting Firm. Did no one in his Ministry tell him that KPMG had just recently been implicated in the Isle of Mann Tax Avoidance Scam. This Government is so impressed by major league larceny that they also hired KPMG to conduct a review of BCUC Christy was equally impressed by SNC Lavalin's larceny which resulted in them not being allowed to bid on third world country jobs, that she hired Gwyn Morgan, then CEO to be her special adviser. I believe we are really governed by The Royal Bank, KPMG, SNC Lavalin and any other corporation that can pony up the reasonably small amount of cash to be welcomed to the table. And every year The Banks and other players make a Big Deal of Donating a million dollar cheque to some charity and since their books are likely audited by KPMG, it ends up costing them nothing. Their charitable donation is 1/1000 of what they could and should pay in corporate taxes if anybody was truly in charge. We seem to be living in the Costa Gavras movie "Z", before the indictments started flying.

Anonymous said...

In BC
rob the poor
help the rich

cfvua said...

Norm nails it, again!

Markerbuoy said...

Great item by Norm at the Tyee...
I repeat,
Wacky Bennett had much to apologise for.
However, his vision for BC hydro wasn't included...
Read David Mitchell's 1983 book, WAC.
Don't get me started on the philosophy behind the formation of BC Ferries.
Old man Bennett was a dyed in the wool free enterpriser, yet he governed in the public interest, to everyone's benefit.
How quickly the (so called) (NeoCon) Lieberals have undone his legacy.

Shame.
Legalised theft.

Anonymous said...

I watched the Lieberals throw out signed contracts with the teachers when they came to power. They got away with it too. So does this mean that when the NDP get elected next year. That they will be able to throw these IPP contracts in the garbage. After all a presidence has been set with regards to signed contracts. Just wondering out loud....

Lenin's Ghost said...

Great idea!

Lenin's Ghost said...

And..... build the bloody bridge to the island and give the politicians bus passes!

e.a.f. said...

OMG that is hilarious, can you just see it Christy on a bus??????? with her videographer and the rest of the entourage. OMG, that is so funny.

Norm's article is great. Now if only the MSM would report on it and the public/taxpayers became aware of it all. Might even change an election. We can only hope the NDP gets its act together and uses some of this stuff in their election ads. Last time Dix didn't go negative and we know how that turned out. Not going negative worked for Trudeau because he had time on his side. this election no time on the NDP's side.

B.C. Hydro is a mess and if the NDP is elected they can stop some of the bleeding. Not honouring some of the contracts might be problematic. some of the companies which now own the contracts are American firms and with NAFTA we could wind up in a court no one gets to watch. of course it might be worth a try and offer them a "settlement". It would be easier to win a trial if it could be demonstrated the deals/contracts weren't "legal". that they were set ups between the B.C. Liberals/el gordo and his "friends". In a civil trial there might be some success by simply looking at who got the contracts and how much they paid/donated to the B.C. Lieberals. a reasonable person could reasonably conclude...........

people will have only themselves to blame. they have been electing the B.C. Lieberals time after time, scandal after scandal and 15 years of the highest child poverty rates in Canada. If electrical rates go as high as those in parts of Ontario people in B.C. may start to feel the pinch of poverty just like all those children have for the past 15 years.

RossK said...

eaf--

Norm was also on with McComb on CKNW yesterday.

It, too, was good.


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Anonymous said...

Yes the "throwing out of signed contracts" can easily be done, as was done then. Indeed the use of "orders in council" to remove what can be deemed as unreasonable or questionable contracts, in terms of taxpayers ability to fund and or pay for them, could be used. The legal ramifications? Not many, if at all. While the bluff factor may be employed by the IPP's, I believe the risk they took initially, probably takes this into account

Much damage has been done by the current BC Liberal government. Much will have to be done, to remove the malfeasance in this province.

RossK said...

Thanks Anon-Above--

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John' Aghast said...

Can you imagine Chrispy and her entourage on a bus!!? They don't make them that big!