Why the Hurry? BC's Natural Gas Is An Asset That Will Gain Value Sitting in the Ground

As of June 2012 there were 29 LNG plants operating globally, another 11 under construction and 15 more planned. 5 other recently proposed LNG plants were either suspended or cancelled because prices of LNG are the lowest since the 1970's. Governments worldwide eager for revenue have permitted an enormous amount of drilling rights and because of this there is a glut of stored natural gas around the world and much more LNG has been found accessible by using fucking fracking.

Both parties, not just the corporate profit loving Liberals, seem oblivious to the coming natural gas glut and its economic impact as Rafe Mair's article yesterday says. BC, with all its resources, lost $1.5 billion last year because of plummeting natural gas royalties. What is the matter with these people? Apparently Siberia has far more natural gas than BC and a pipeline from Siberia to the 'lucrative Chinese market' is the easiest/cheapest and consequently the most likely option.

And all this stupidity will come with a big price tag, forests and streams destroyed forever building a pipeline. A huge portion of BC's last remaining agricultural land flooded to build a dam to power the stupidity - Site C. Huge amounts of embedded energy consumed in the making of these mega structures and a correspondingly huge amount of environmental and atmospheric damage.

All this for what? So BC can exhaust its own future supplies and, after 20 years, become an importer forever? BC's natural gas isn't infinite. In the future our kids and theirs will still need energy to hold back the Canadian winter. BC's Natural gas is an asset that will gain value sitting in the ground. So what's the hurry? Have visions of the natural gas free money sugar plums danced in the heads of the politicians so long they now believe? Or is it just that with an election coming one side wants its capitalist cronies happy and the other wants to do the same for it's union supporters? Either way it's dumb idea that has been obscured by all the oil pipeline focus and deserves to get more publicity.