{"id":55396,"date":"2020-10-22T07:24:31","date_gmt":"2020-10-22T12:24:31","guid":{"rendered":"https:\/\/olduvai.ca\/?p=55396"},"modified":"2020-10-22T07:24:31","modified_gmt":"2020-10-22T12:24:31","slug":"lng-in-bc-is-a-losing-bet-report-finds","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=55396","title":{"rendered":"LNG in BC Is a \u2018Losing\u2019 Bet, Report Finds"},"content":{"rendered":"<header class=\"article__header\" data-dev-object-descrip=\"organisms\/article\/article__header\" data-dev-status=\"IN-PROGRESS\">\n<div class=\"container-fluid\">\n<h3 data-bind=\"title\"><a href=\"https:\/\/thetyee.ca\/News\/2020\/10\/22\/BC-LNG-Losing-Bet\/\">LNG in BC Is a \u2018Losing\u2019 Bet, Report Finds<\/a><\/h3>\n<p data-bind=\"teaser\"><strong>New analysis calls out rosy job projections for industry \u2018misleading\u2019 and unrealistic.<\/strong><\/p>\n<\/div>\n<\/header>\n<section class=\"featured-media\" data-dev-object-descrip=\"02-organisms\/article\/featured-media\">\n<div class=\"container-fluid\">\n<figure class=\"figure \" data-dev-object-descrip=\"01-molecules\/blocks\/figure\"><img loading=\"lazy\" decoding=\"async\" class=\"responsive-img\" src=\"https:\/\/thetyee.ca\/Analysis\/2020\/01\/23\/LNG-Landscape.jpg\" alt=\"LNG-Landscape.jpg\" width=\"960\" height=\"640\" \/><figcaption class=\"caption\">BC\u2019s LNG Canada project under construction earlier this year.\u00a0<span class=\"caption__media--credit\">Photo by Robin Rowland, the Canadian Press.<\/span><\/figcaption><\/figure>\n<\/div>\n<\/section>\n<article class=\"article__body main-col-container\" data-dev-object-descrip=\"organisms\/article\/article__body\" data-dev-status=\"IN-PROGRESS\">\n<div class=\"container-fluid clearfix \">\n<p class=\"lead-in\">A respected U.S. energy group has criticized a rosy Conference Board of Canada <a href=\"https:\/\/www.conferenceboard.ca\/e-library\/abstract.aspx?did=10763&amp;AspxAutoDetectCookieSupport=1\">report<\/a>\u00a0championing more liquefied natural gas development in British Columbia as \u201ca lobbying effort for government subsidies, support and flexibility.\u201d<\/p>\n<aside class=\"aside hide-on-narrow-vp\" data-dev-object-descrip=\"01-molecules\/blocks\/aside\" data-dev-status=\"IN-PROGRESS\">\n<div class=\"presents-box text-block-container\" data-dev-object-descrip=\"01-molecules\/blocks\/presents-box\" data-dev-status=\"IN-PROGRESS\">Two lucky readers will get a chance to see Kent Monkman\u2019s work.<\/div>\n<\/aside>\n<p>The\u00a0<a href=\"https:\/\/ieefa.org\/canadian-assessment-of-lng-rising-tide-would-drown-balance-sheets-in-red-ink\/\">scathing critique<\/a>\u00a0by the Institute for Energy Economics and Financial Analysis characterized the Conference Board report as \u201cmisleading,\u201d short on facts and unrealistic.<\/p>\n<p>\u201cThe Conference Board, a non-profit economic research organization based in Ottawa, believes Asian, or more specifically, Chinese demand growth can sustain a further leap in British Columbian LNG capacity growth, despite corporate investors already folding their hands,\u201d said the institute in its highly-critical paper.<\/p>\n<p>The Ohio-based institute is funded by a variety of philanthropic organizations and examines issues related to energy markets, trends and policies. Its mission is \u201cto accelerate the transition to a diverse, sustainable and profitable energy economy.\u201d<\/p>\n<p>The Conference Board\u2019s July report, titled \u201cRising Tide,\u201d estimated that if the government boosted LNG development to export 56 million tonnes of liquefied natural gas a year the industry would create 100,000 jobs based on an imaginary growth scenario.<\/p>\n<p>\u201cB.C. is becoming the focal point for a new Canadian industry \u2014 liquefied natural gas,\u201d claimed the report, which failed to mention that 13 LNG projects have already been cancelled or suspended in B.C. and other parts of Canada due to bad economics, global oversupply and high extraction costs based on hydraulic fracturing.<\/p>\n<p>At the moment, Shell\u2019s\u00a0<a href=\"https:\/\/www2.gov.bc.ca\/gov\/content\/industry\/natural-gas-oil\/lng\/lng-projects\">LNG Canada<\/a>\u00a0is the only active project in B.C.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>LNG in BC Is a \u2018Losing\u2019 Bet, Report Finds New analysis calls out rosy job projections for industry \u2018misleading\u2019 and unrealistic. BC\u2019s LNG Canada project under construction earlier this year.\u00a0Photo by Robin Rowland, the Canadian Press. A respected U.S. energy group has criticized a rosy Conference Board of Canada report\u00a0championing more liquefied natural gas development [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[5549,65,94,14885,1714,1190,23884],"class_list":["post-55396","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-andrew-nikiforuk","tag-bc","tag-british-columbia","tag-conference-board-of-canada","tag-liquified-natural-gas","tag-lng","tag-thetyee-ca"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55396"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55396\/revisions"}],"predecessor-version":[{"id":55397,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55396\/revisions\/55397"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}