What have those two been smoking? Justin Trudeau, Christy Clark and the stoner's dream of vast wealth to be had flogging liquid natural gas (fracked) to Asia.
It culminated in a photo-op vaguely reminiscent of the Wizard of Oz. There was natural resources minister, Jim Carr, as the scarecrow. Fisheries minister Dominic Leblanc as the tin man. EnviroMin, Dame Catherine McKenna, as Dorothy, and, in their midst, Christy Clark as the cowardly lion. They were all bundled up to Richmond, B.C. to stage the announcement of federal approval for the Petronas/Lelu island LNG project.
The announcement sparked a wave of criticism and anger, especially among British Columbians growing a bit tired of Justin's bullshit.
But I suppose Trudeau must have thought it was worth it. Wait, what's that? Petronas, the Malaysian energy giant behind the project, confirms it's looking to get out of the deal.
Petroliam Nasional, or Petronas, is weighing options for the project as its finances have been squeezed after crude oil prices have collapsed by more than 50 per cent since mid-2014.
Additionally, the economics of the project have been called into question as LNG prices for delivery into the main markets in northeast Asia have slumped more than 70 per cent over nearly the same time period.
Petronas signed on for the project in 2012 through acquisition of Canada's Progress Energy. That year, LNG prices climbed as high as $18.17 per million British thermal units (mmBtu), but have fallen to $5.75 per mmBtu since then.
Were these nitwits in Ottawa and Victoria blindsided by Petronas? Now they're left with egg on their faces, looking like a gang of naive incompetents. Okay, maybe more than just "looking like."