Thursday, September 25, 2014
Sounds Like a Shakedown to Me
Christy Clark has a lot riding on British Columbia's natural gas. The premier has been promising enormous riches for the province from the sale of liquefied natural gas to Asia.
Perhaps Christy's foreign gas partners sense her vulnerability. That could explain why Malaysia's Petronas is threatening to pull out of Pacific Northwest LNG in which it holds a 62% interest.
Petronas CEO, Shamsul Abbas, is threatening to scuttle the $10-billion venture.
"Rather than ensuring the development of the LNG industry through appropriate incentives and assurance of legal and fiscal stability, the Canadian landscape of LNG development is now one of uncertainty, delay and short vision," Abbas told the .
Cough up the subsidies, grants, deferrals and other "appropriate incentives" or Pacific Northwest LNG and your credibility are toast.