The Trudeau government has just given the go-ahead on liquid natural gas exports from British Columbia. He probably got an earful of how LNG was going to resurrect BC's economy from our premier, Crispy Christy Clark. Unfortunately what Clark has been feeding the gullible has been mainly horseshit. The Tyee's Andrew Nikiforuk lists the real whoppers that lie beneath Clark's fantastic claims.
For starters, the province has overestimated the recoverable gas volume by a factor of about 8. Victoria claims 2,900 trillion cubic feet. There's 400 tcf - maybe.
Jobs, jobs, jobs. Crispy boasts of 100,000 jobs from the LNG project. Pare that to 2,000 to 3,000 during the construction phase and 200 to 300 permanent jobs thereafter.
The third whopper concerns how the salvation of LNG is at hand, a matter of ours for the taking.
Most readers will recall that Apache Corp., a Houston-based energy firm, conducted some of the largest frack jobs in northern B.C. and was one of the first companies to champion an LNG terminal. But in 2014 it sold its interests in its Kitimat proposal along with an Australian project. Here's why: last year the shale fracking company posted a loss of nearly $25 billion. That's right: $25 billion. Fracking shale gas, an exercise in declining returns, rarely pays the bills.
More reality can be found in a 2015 report by Oxford Institute for Energy Studies, a rigorous non-profit educational group based in London that analyzed the prospects for North America's LNG industry.
It was blunt: "Despite Canada's abundance of gas resources and the plethora of proposed LNG export schemes, the current business environment, characterized by low oil prices and industry consolidation, does not indicate that any Canadian LNG scheme will be commissioned before the middle of the next decade."