As we review the performance of the people involved, impacted by and/or responsible for the proposed Muskrat Falls development - big business shines.
If we as people had MHA's who performed close to the level of big business in representing their shareholders interests - we would not be considering this Muskrat Falls fiasco.
If a business has any opportunity to get it on an 8 billion dollar spend - the decsion gate is clear.
Let's look at what it considers:
1. Can the business make any money on this venture?
2. How much money can the business make on this venture?
3. How many years can the business profit from working on or for this project?
4. What will the business cost be to deliver product, service, manufacture or consulting to the project?
5. What will be the increase in the value of a share and therefore the value of the business?
Let's look at what it does not consider:
1. Who is paying the bill? (other than if the party was not creditworthy)
2. How will it impact this community or that community?
3. Are the owners of the natural resource getting value from the proposed deal?
4. How will this proposed project affect the province's debt?
5. How many long-term jobs will be created for Newfoundlanders and Labradorians?
This is why I am not concerned or surprised that businesses around the province and the country are supporting the proposed development.
I am concerned about the mindset of our MHA's who are there to represent us - the people.
Let's look at what they should consider:
1. Who is paying the bill?
2. How will it impact the ratepayer, taxpayer, and shareholder of the resource?
3. How many long-term jobs will be created for billions of dollars?
4. How much value can we add to shareholder?
5. Is this development needed for domestic supply?
6. Is this the only alternative?
7. Can we sell this power competitively in the export market?
8. Will the shareholder subsidize cheap power for business, another province, or American Export?
9. How will the increased price of power to domestic consumers affect our seniors, low/middle income families, and local small business (recessionary impact)?
10. Have I achieved support from the people I represent as an MHA?
As for Nova Scotia - they are playing it coy:
1. The proposed project will go to the PUB there - while Newfoundland and Labrador MHA's are preventing the same process here.
2. They do not have to buy in before the project starts.
3. They can play one energy competitor off against another for the best price - thereby eliminating Muskrat supply or reducing the price wherein the people of Newfoundland and Labrador have to pay more for their power so Nova Scotians get cheaper power.
4. Currently the NDP government in Nova Scotia is in political trouble as it relates to Emera - where people are suffering the impacts of energy privatization that occurred at the same time as we prevented it.
5. Nova Scotia is presenting itself as the energy hub as it continues to attract industry away from Newfoundland and Labrador and to themselves.
As for the Mining exporters in Labrador - they are waiting like the wolf - we are the prey:
1. They are quickly becoming the raison du jour for the proposed development.
2. They have already threatened that without this type of infrastructure they may cancel or downsize development.
3. As other reasons for Muskrat development are destroyed - domestic island supply and export - their hands are wringing for cheaper subsidized power.
4. If they become the only reason for Muskrat - their demand for cheap prices will increase as other competitors (Hydro-Quebec) offer a cheaper price. All the while of course - Quebec gets secondary infrastructure to ship out our raw resources.
5. They have government's ear.
As for performance of CEO's - dead last in my opinion - Ed Martin
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