Remember the BC Prosperity Fund? Established by Christy Clark in 2013 it was to grow to over $100 billion from LNG revenues and be used to, for example, eliminate the provincial debt and reduce taxes. Now Pierre Pollievre suggests LNG Canada could be replicated 20 times and that income could “totally eliminate poverty in the First Nations communities and make them the most prosperous communities in the whole country”. All it takes is a bill that would streamline natural resource projects.
The climate impacts of an additional 20 LNG plants would be catastrophic. That tells you all you really need to know about the Conservative Party of Canada’s climate policies.
Pollievre would have you believe the only thing standing in the way of a massive increase in LNG production is the federal Impact Assessment Act which he considers “anti-resource”.
Developing an LNG plant requires a massive investment and the decision to make that investment is based on market demand. Even with the turmoil caused by the war in Ukraine “global gas demand growth has slowed considerably since its “golden age” of the 2010s” (IEA). “Projects that have started construction or taken final investment decision are set to add 250 billion cubic metres per year of liquefaction capacity by 2030, equal to almost half of today’s global LNG supply.” (IEA)
There’s no market for the dramatic increase in production Pollievre suggests. It’s nothing but an empty “promise” intended, one assumes, to build support. It is, in fact, incredibly disrepectful to suggest that something that will never happen will solve the long standing issues faced by many First Nations in this country. Another empty promise.
References
Conservative leader takes direct aim at Skeena-Bulkley Valley in campaign-style visit
New British Columbia Prosperity Fund Will Ensure Lasting Benefits
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