Muskrat Falls in a nutshell. Larger giveaway than the Upper Chuchill.
1. Double electricity rates for us so Nova Scotia can have cheap power.
2. The Province is not running out of power because the population is dropping and industry is disappearing. All products now more energy efficient.
3. The Province is entering into 6 billion in debt with no commercial basis to pay it off - just us the consumers.
4. The infrastructure we are building cannot transmit Gull Island so we are spending over 2 billion to give Nova Scotia cheap power.
5. The predictions on oil prices are overstated and the predictions of increase in demand are fiction so our rates would not double over the next few years if we stay the same.
6. Loan guarantee from Ottawa for this giveaway will cost us in many other ways, lost federal jobs and services and the sign-off on the Comprehensive Economic Trade Agreement with the EU further harming our fishery and increasing the cost of prescription drugs.
7. The "independent" panel says case is not there for the development.
8. Another giveaway of Labrador resources without permanent industrial growth.
9. Short-term jobs during construction - no jobs after. Makes millionaires out of a few companies and their shareholders.
10. Giveaway to multi-millionaires under Emera.
3 comments:
Navigant says it's a good idea, though! Oh yah, and didn't NALCOR pay them for their review?!!
CABOT MARTIN'S ARTICLE IN SATURDAY'S THE TELGRAM SHOULD NOT BE IGNORED. PLESE PREMIER DUNDERDALE AND MHAS's READ THIS ARTICLE.
Everyone should read Cabot Martin's article in Saturday's The Telegram titled "Muskrat Falls and the changing face of energy". He said what made sense in Novemeber 2010 doesn't make sense any longer because the Americans have identified an incredible shale gas resource base whose exploitation knocked the supposedly every increasing price of natural gas from over $10 per 1000 cubic feet back down to about $4 to $5 per thousand cubic feet in 2011 dollars for many, many years.
He said that the U.S. shale gas reserve base is of such a size and available at such a low price, that there are active and large programs under way in the U.S.A to swith trucks (and even cars) from gasoline to either shale gas-based compressed natural gas (CNG) or liquefied natural gas (LNG.
He said that in fact, the United States has so much shale gas available that many of their LNG import terminals are now being converted to export terminals. And world scale natural gas fuelded petrochemical plants are now being built from Texas to Pennsylvania (the first such plants to ge constructed in the U.S.A. in over 30 years).
Mr. Cabot Martin says this is a true energy revolution whose "knock on" effects in other energy sectors we can ill afford to ignore.
continued from the article from the Telegram by Cabot Martin...
Mr. Cabot Martin said: "A very rapid and totally unpredictable change in the United States electrical market (the development of shale gas) has fatally undermined a big part of the original Muskrat Falls logic and has come on with such a speed that it has caught virtually everyone in North America off guard".
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Mr. Cabot Martin said the true energy revolution whose "knock on" effects in other energy sectors, we can ill afford to ignore. For instance, in July of this year, he says, a major international oil company pulled out of the multi-billion-dollar and long touted Mackenzie Valley Gas Pipeline project to concentrate on its shale gas holdings in northeast British Columbia not that much farther south.
This B.C. shale gas, Mr. Martin says, is too expensive compared to shale gas produced in the States and the company is looking to ship it as LNG, to China and the Far East.
But he says the Chinese market itself may turn out to be less lucrative than first thought as China, while behind the U.S. in shale gas technology, seems to have even more shale gas potential than the States--and on and on, he says, goes the shale gase revolution.
Mr. Martin says meanwhile, the Mackenzie Valley's trillions of cubic feet of more expensive conventional nautral gas (once worth "on the books" many billions of dollars) are well on their way to being economically "stranded" because they cannot meet the competition.
So too, Mr. Martin says, it seems, with Muskrat Falls power, at least with respect to U.S. markets, Mr. Cabot Martin asked the question: Is it our future to be a relatively high-priced electricity island "stranded" off North America dominated by relatively low-cost electricity?
He asked do we really have no choice but to build a massive Muskrat Falls project whose original economic rationale has been radically undermined?
He said maybe not. Because there are significant proven reserves of what are probably stranded conventional natural gas on the Grand Banks.
Mr. Martin says looking at Grand Banks natural gas to electric project as a whole, he has been reliably informed that for a bit less than $3 billion (ie. less than half the cost of the overall Muskrat project), Nalcor could do the following:
1. Add a natural gas compressor package to the new wellhead GBS proposed by Husky as operator for the White Rose Growth Project;
ii Add a natural gas cmpressor package to the new wellhead GBS proposed by Husky as opertor for the White Rose Growth Project;
iii Build a standard (but iceberg protected) optimum sized natural gas pipeline to shore (landing at say Holyrood);
iv Build a state of the art 500 megawatt gas turbine electrical generation plant at Holyrood.
He said all this can be constructed for about $3 billion. Given, he said a guaranteed long-term customer at Holyrood for part of the pipeline throughout, this is the sort of project that should attract private investment, thus lowering the additional debt to the province. He said the LNG part would add significant flexibility to the overall project (especially compared to Muskrat):.....
THERE IS MUCH MORE TO THIS ONE AND HALF PAGE TELGRAM ARTICLE BY MR. CABOT MARTIN.
THIS ARTICLE IS VERY INFORMATIVE AND SHOULD BE READ BY EVERY NEWFOUNDLANDER AND LABRADORIAN, ESPECIALLY PREMIER DUNDERDALE AND HER MHA's.
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