Paul Manly: Kait Burgan on Shaw Go! Island interviewed me about LNG in BC. My key points - - The BC and federal governments should not be investing in and promoting more fossil fuel extraction and export, they should be promoting a transition to clean green renewable forms of energy. - The BC governments plan doesnt make economic sense, we get a very low 1.5% royalty rate until the multi-billion investment in infrastructure is paid off and then we get half the royalty rate that the BC Liberals promised (3.5% instead of 7%). World prices for natural gas are going down but even still the price for BC consumers and BC industry will go up. This is bad for industry which will lose the comparative advantage of low energy costs to help them compete on world markets. - This is another rip and ship industry where we are exporting raw product instead of using the energy to power the transformation to a clean green renewable economy. - The environmental risks are not worth the small royalty return. Gas extraction in BC involves fracking, which means the use of toxic carcinogenic (cancer causing) chemicals that can leak into aquifers and which have been spilled from tailing ponds etc. In many cases valuable water is removed from the hydrological cycle. - Horizontal fracking increases the risk of methane migration and leakage into the atmosphere. Methane is a very potent green house gas and leakage will accelerate climate change. youtu.be/HtJ0my_j55U?t=7m15s
Posted on: Tue, 20 Jan 2015 22:38:33 +0000
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