VICTORIA (NEWS1130) – Premier Christy Clark says she wants British Columbians to cash in on the trillion-dollar development potential of liquefied natural gas in the province.
In its throne speech today, the government announced a new BC Prosperity Fund that could accumulate between $100 billion and $260 billion in revenues from LNG royalties and business taxes over the next 30 years.
The Liberal government promised in its September 2011 jobs plan the development of three LNG plants in northwest BC by 2020, and that figure has since been upgraded to five plants.
The government says the main focus of the Prosperity Fund will be to reduce the provincial debt, currently at $56 billion, but it also suggests the fund could help eliminate the sales tax and invest in education and communities.
Recent estimates of the impact of LNG development in BC’s north includes the creation of 39,000 jobs over the nine-year construction period and 75,000 new full-time jobs if the five facilities reach full production.
But Political Scientist Hamish Talford says it is not something that can be done overnight.
“To sort of stake your future on natural gas, I’m wondering, doesn’t seem like the best possible bet. I’m sure they’ll be called on it in the days to come.”
Talford says making note of funds going into health care and the reduction of child poverty which are strengths of the NDP shows the government isn’t worrying about any other party as competition.
Talford notes the party essentially abandoned her families first platform which could hurt the party.
The throne speech also says the Liberals will start work to create a school of traditional Chinese medicine at a BC post secondary institution.
The NDP’s John Horgan is not impressed with what he heard today. “It seems to me, that we were away from the Legislature for eight months, and what we got was a 30 year plan with a fund that has nothing in it.”
He doubts a new government will proceed with the kind of prosperity fund announced in the throne speech.
Horgan says the Liberals are running out of gas. “If you go back to governments on their last legs, issuing throne speeches, you’ll find talk of a new innovative fund that will change the future. Unfortunately, that rarely happens.”
Some Liberal opponents are worried about environmental risks that could come from liquefied natural gas development.
BC Green Party Leader Jane Sterk is worried about fracking, she says that will hurt our fresh water supply.
She points out other potential consequences. “Damage to human health, and the soil and our air sheds.”
“We should be putting a moratorium on additional natural gas plants and we should be transitioning our economy to one that is based in renewable energy… not one on fossil fuels.”
The BC Conservative Party says the liberals are looking at natural gas as a win-fall with nothing to document it.
Home Improvement Profiles
News1130 Apps
Tell us what you think!
News1130 Business Profile
Hey Zeng Yu how much are the lieberals paying you to continually post idiotic comments on this site? You been drinking the lieberal kool-aid again?
What a fracking nightmare this is going to be. There will be nothing left of BC after the industry blows a million holes under the ground. When the big one strikes, the ground will cave in on itself.
And the rent goes up to the point, where older retired tenants on fixed incomes have to hit the road and die.
The quality of a society is measured by how much they care for their seniors.
Would it not be a good election promise to create a rent increase ceiling for permanent older residents ? Or a steady increase in rental- subsedies ?
An absurd campaign promise never to be fulfilled. Where are the companies who are offering to build these five plants, and pipelines required?? The price of gas is recovering and since gas has been cheap, substitution has occurred, so prices continue to recover. Any company looking at this trend will be doubtful as to the economics of starting new ventures. Unless the government wants to build the plants, it’s not going to happen. After $500,000 in travel and expense account charges this is the best she could come up with, besides Bollywood.
Come on now, the Liberals have to find some place to store those huge surpluses Christy promises we’ll have, if only we vote for her. We’ll all be rich, if only we vote Liberal, isn’t that great? Doesn’t that make you want to vote for Christy?
Christy Clark LNG = LING, LING, CHING, CHING. Gung Hay Fat Choy!!!!!
The unchecked industrial development of Northern BC planned by the BC Liberals and their best friends the Harper neo cons is not only environmentaly destructive and irresponsible but unsustainable as well. Their won’t be enough skilled workers for all these projects and I highly doubt permits will be granted for all of them. Besides LNG prices have plummeted lately. There has to be a better balance between industrialization and environmental protection and the NDP are far better at providing this balance. The Liberals don’t have a clue and a perfect example is the fact that literally every wild river in SW BC has some sort of Independent Power development river diversion project on it. The Liberals granted permits for these projects to pretty much anyone including unscrupulous stock promoters looking for a quick buck. It created a gold rush mentality and destroyed our rivers.
Yeah, keep believing all those lies. If we still had some fast ferries, I’m sure you’d buy those too.
I’d still rather vote for the Liberals than the NDP. I remember those days and they weren’t pretty.
I remember it all quite well and I’ll take the people focussed NDP over the corporation focussed Liberals in a heart beat, but that’s just because I’m a person, not a corporation. It’s time for a change and the NDP is the logical choice. A vote for the Cons is a waste of time and everyone knows there are only 2 choices. If the NDP screw up, they’ll be out again next election, but I want a change. This government has become too cozy being in power and I’m still waiting for something for me, my family and my aging parents. A Family Day holiday that I don’t even get is not going to cut it in my books. They’ve had their turn, now let’s change the scenery.
12 years is track record is enough for voters to make up their minds on the viability of this government and its backers. They promised the moon and what did we get?
We got mooned alright!!!!!
WOW…8million a year into a fund!!! bet they could save even more without the LNG fund and just stop the advertising.
NDP had a chance to stop partisan ads on the tax-payers dime but they didn’t and now people complain. Guess what? When they gain power, they’re going to do the exact same thing!