Britsh Columbia gets LNG tax axe!

solar_dave

http://oilprice.com/Energy/Natural-Gas/Is-The-Canadian-LNG-Export-Dream-Dead.html

The inability to break ground on a series of LNG export terminals is also a major blow to the province of British Columbia, which has banked on natural gas exports to meet certain budget objectives. B.C. Premier Christy Clark was originally very bullish on the industry, telling constituents that the province could become debt-free as a result of exports.

In 2013, Clark predicted that a full-fledged LNG export industry would be up and running by 2020, which would bring in $4.3 to $8.7 billion each year for the province. But her government made major concessions on taxes after several companies wavered on final investment decisions. Petronas even threatened to cancel its project because of proposed tax rates. In October 2014, Clark’s government proposed a 3.5 percent LNG tax, half of the original proposal.

Looks like with low oil prices LNG is the next victim.

westbranch

Re: Britsh Columbia gets LNG tax axe!

From what I have read , it is more a case of 'too late to the table' as the other LNG producers are years ahead of the BC planned dates, so we would have to be in the bargain basement prices range to sell anything, if any, since these guys are buying years into the future with fixed low prices NOW!
a muggs game...

CDN_VT

Re: Britsh Columbia gets LNG tax axe!

Well if those 3 new BC Ferries show up in 2018 & we don't have a fuelling system , were back as we were with those FATCATS that had spiral staircases without kicks !!! Auctioned back the company that built them @ ten cents on the approved cost ,loss of over 3 billion , next was the Olympics ,HST . WOW ,No wonder why so many are leaving BC

Crusty Clark & the complete Lieng bunch all need to have their jobs plus Benys & their doubling dipping retirement plans pulled.
How much has SHE pissed away on this dream !! < but the fuel prices are manipulated to force Russia into a repression with the sanctions . Our fuel is still 123/L ,droped 3 cents , price out Ottawa,AB or Victoria WB

VT

westbranch

Re: Britsh Columbia gets LNG tax axe!

Also heard on the news mid day that the Saudi's are also in that mess too get back their top dog position as worlds largest oil producer/exporter, which has been taken over by the US in the last year due to , dare I say it, Fracking....:roll:

As the stomach churns, the plot thickens!:p