I have been studying the Site C proposal across the gamut of information for several years. Studies have blossomed into a virtual 'river' and cover everything from environment to profit-loss projections based on current land use values. David Suzuki recently spoke on the matter, after observing pre-construction construction. Suzuki was pointing out how B.C. Hydro is ignoring law in the same fashion Quebec Hydro did in the James Bay project in the 70s by spending huge amounts of money before arguments are settled.
In this 'river' of information available through internet sites, British Columbians will find the reality of why this dam is being pushed forward and why this project is entirely unnecessary. The hard facts are B.C. Hydro's debt load from a long history of mismanagement which includes paying dividends to BC governments by taking out loans. When these loans are scrutinized carefully, they will expose there is a game by our southern neighbour to service its own needs. A large part of this need is due to its incessant misuse of water for industry.
Therein lies the corporate cause.
I recently attended a lecture at UNBC by an economics professor which presented the unequivocal fallacy as little more than an attempt by the B.C. Liberals to save face. They have projected promise after promise based on the idea B.C. could profit enormously in the world markets from energy reserves. These promises fell apart as those offshore markets exposed their own volatility even though localized opinion blamed environmentalists and First Nations. The hard facts of this volatility was foretold by many of us who watch the world economic state prior to all these political projections. The lecture I listened to was presented without bias because of the economics contingency at UNBC.
The dam project will cost a projection of $8.1 billion over ten years, supposedly generating power to fill the needs of B.C. in the coming years beyond completion. This is what the Liberals and B.C. Hydro are telling us. What they are not telling us is how the governments own funded study group was recently told it had no initiative to study Site C after its own determination revealed Site C was completely unnecessary to fund future power needs. One projection by government was the selling of power to the LNG industries and Alberta's tar sands project which have stalled as the dynamics of energy need and profit are in a state of flux. I find this farcial if one considers both those projects can actually generate their power needs with the fossil fuels they produce. When considering the rise of alternative energy projects such as regional geo-thermal plants etc this dam is little more than a political football which completely misses its intended mark.
Project cost overuns based in many economic studies start at 50 per cent and stretch speculatively as high as 100 per cent over the 10 year estimate. So what is the real truth behind why the government is pushing at selling the public this project if not to spin it off south and/or gouge British Columbians with debt-loads which will last well into the next 50-60 years?
Dennis Ouellette
Prince George
