Pipelines, energy and natural resources

[Kirkhill]

Another small 'X' in the win column.

https://www.cbc.ca/news/canada/british-columbia/ksi-lisims-lng-environmental-certificate-1.7634761

$10B Ksi Lisims LNG project in northwest B.C. receives environmental certificate​

the province said the approval of the environmental assessment certificate came after a nearly four-year process by the Environmental Assessment Office (EAO).

It says the EAO consulted with 10 area First Nations as it made the recommendation to issue the certificate.

Some of them, like the Kitselas First Nation and the Gitga'at First Nation, were in support of issuing the certificate.

NOTE: according to the map provided, the LNG location looks to reside on 'Gitga'at First Nation' land. I cannot see where the pipeline route goes.

Would be interesting AND beneficial for ALL of the public, to show the pipeline routes and where the lands of the First Nations that are in favour of the LNG (or other natural resource initiatives) are located and where the lands of those First Nations that are against it reside. Dollars to doughnuts I'm willing to lay down money that more often that not those that are against the initiative are not having the pipeline go through their land and are potentially losing out on revenue sources.

Interestingly enough, some aspects of FN territorial boundaries are 'confidential', so you might not ever see a map like that shared publicly...

Try playing around with these maps

Interactive Map | British Columbia Assembly of First Nations

www.bcafn.ca

Interactive Map | BC Treaty Commission

Discover, explore, and learn about First Nations in BC with our Interactive Map. This is not an exhaustive list of all First Nations in BC.

bctreaty.ca

Curiously the FN map doesn't include boundaries. It only shows settlements (is that the right word for an indigenous community?)
On the other hand the BC Treaty Commission seems to be replete with overlapping claims.

 

[Colin Parkinson]

Some FN sites have always been confidential, particularly medicinal plants, sacred sites and petroglyphs. I used to place that information into sealed manila folders marked "Confidential" So we had it on file, but would not be inadvertently released by an ATIP request. The ATIP officer would still review the information within and determine if it was protected or not.

A lot of the Coastal Gas Link opposition was driven by the Hereditary Chiefs of one nation. That nation band council had come to a revenue sharing agreement with the company. But he who controls the money, controls the people, the Chiefs had no funding stream and they wanted some of that action. But the company already had 22 revenue sharing agreements with bands enroute and they knew if they buckled to one set of Hereditary Chiefs, the other would try the same thing. Funny when you think about it, the Hereditary Chiefs are the families that most likely had a significant amount of slaves and nobody talks about that bit.

 

[RangerRay]

Has the worm turned in BC?

More than 60 per cent of British Columbians support LNG expansion: Poll​

More than 60 per cent of British Columbians support LNG expansion: Poll

The results come after a federal announcement that Kitimat’s LNG export facility will be fast-tracked.

vancouversun.com

IIRC, polling showed more people in BC in favour of pipelines 10 or so years ago too, but all of those against voted NDP or Green and the NDP needed all of their votes, especially since they were being propped up by the Greens at the time.

 

[Colin Parkinson]

Tide is hopefully turning, voters against NG bans.

New poll indicates British Columbians oppose municipal natural gas bans - BC News

As the summer heat fades, a new Ipsos survey for the Energy Futures Institute finds most British Columbians (63%) want choice in how they heat their homes—rejecting policies adopted by numerous munici

www.castanet.net

 

[YZT580]

Some FN sites have always been confidential, particularly medicinal plants, sacred sites and petroglyphs. I used to place that information into sealed manila folders marked "Confidential" So we had it on file, but would not be inadvertently released by an ATIP request. The ATIP officer would still review the information within and determine if it was protected or not.

A lot of the Coastal Gas Link opposition was driven by the Hereditary Chiefs of one nation. That nation band council had come to a revenue sharing agreement with the company. But he who controls the money, controls the people, the Chiefs had no funding stream and they wanted some of that action. But the company already had 22 revenue sharing agreements with bands enroute and they knew if they buckled to one set of Hereditary Chiefs, the other would try the same thing. Funny when you think about it, the Hereditary Chiefs are the families that most likely had a significant amount of slaves and nobody talks about that bit.

The FN has come out with a little bit of blackmail. They stated today that if they don't receive an increase in payments or at the very least maintain the status quo they will refuse cooperation on the major projects front. They are worried that they will be included in the budget cuts

 

[Kirkhill]

The FN has come out with a little bit of blackmail. They stated today that if they don't receive an increase in payments or at the very least maintain the status quo they will refuse cooperation on the major projects front. They are worried that they will be included in the budget cuts

Sounds like the AFN needs to organize their own Equalization Program so that the rich FNs can support the poor FNs that are going to miss out on all this resource development.

 

[lenaitch]

Sounds like the AFN needs to organize their own Equalization Program so that the rich FNs can support the poor FNs that are going to miss out on all this resource development.

Why? They have the federal government for that.

 

[Czech_pivo]

Sounds like the AFN needs to organize their own Equalization Program so that the rich FNs can support the poor FNs that are going to miss out on all this resource development.

Now wouldn't that be a real world test of solidarity.

 

[SeaKingTacco]

Now wouldn't that be a real world test of solidarity.

You are joking, right?

 

[Czech_pivo]

You are joking, right?

Sarcasm 100%

 

[Brad Sallows]

The 10yr rate of return on the TSX60 is greater than the 10yr Canada bond interest rate - over the long run investing for the future when the investment is returning more than the interest on debt is always the smart move.
Any competent financial advisor will tell you to choose to invest rather than pay off debt if the opportunity to earn more is greater than the cost of maintaining the debt.

My current mortgage term, which expires in 10 days, was a 4yr fixed at 1.74% - I would have been an utter fool to use any extra money to pay down my mortgage quicker over the last 4yrs when I could have taken the quick and idiot proof method and dumped extra money into fixed 1, 2, 3yr GIC’s and earned double that interest at a min. Or, bought a market ETF for the TSX or S&P or NYSE and earned 20+% over a 2, 3 or4yr period.

IF ... the cost of servicing your debt doesn't suddenly increase to exceed your means and force you to liquidate assets at an unfavourable time ("sell low"). Debt is a vulnerability that has to be acknowledged.

 

[Czech_pivo]

IF ... the cost of servicing your debt doesn't suddenly increase to exceed your means and force you to liquidate assets at an unfavourable time ("sell low"). Debt is a vulnerability that has to be acknowledged.

Good thing the cost to carry debt fell again yesterday.

Debt is a vulnerability that has to be managed - and by properly managing it you are acknowledging it.

Case in point - Home Depot. I routinely take advantage of their 12, 18 & 24 month 0% interest payment offers. Most recently I did this when our 9yr old Maytag fridge died. Went to HD and picked out a new one and had it delivered within 2 days. I utilized their 18months equal payment, no fee, no interest plan by using my HD credit card instead of my RBC Avion VISA.

Regardless if I was in the position to put the entire cost on my VISA and have that entire amount paid off in full at month end or paying it in full by an ETF at the register at the time of purchase. I chose NOT to go this route but to use my HD credit card and then pay them off over 18 months with the same payment made to them over this time period - at zero extra cost to me, no fees and no interest. I'm managing my cash flow in this manner. I'm not draining my saving down immediately to cover this cost. I'm spreading the cost over 18 months instead of 1 month. This is taking on debt, but its what I would classify as 'good debt' as its costing me 0% interest over the 18 months and my savings are not drawn down so quickly.

In fact, if I had the opportunity to use the 24 month payment plan (which is rare now), what I could have done was take 12 months worth of payments and put it all into a 1yr GIC non-redeemable at 2.8% interest and earned that over the 12months, collected that interest at the end of the 12 months and then continued making payments over the next 12 months for the fridge.

 

[Brad Sallows]

Good thing the cost to carry debt fell again yesterday.

Debt is a vulnerability that has to be managed - and by properly managing it you are acknowledging it.

Sure. Most of the time the advice to work the spread is sound.

Sometimes it isn't, and people get eaten.

 

[Czech_pivo]

Sure. Most of the time the advice to work the spread is sound.

Sometimes it isn't, and people get eaten.

Yes, you are 100% right.
If I was King for a day, I would mandate 2 things - all kids graduating high school must pass a swim test in order to graduate and second, financial/budgeting/investing classes were mandatory classes all 4 yrs of high school.

 

[daftandbarmy]

Just the BC Premier being his usual self, probably to distract everyone from his dismal fiscal performance...

Eby criticizes Smith's pipeline push, says feds' treatment of B.C. ferry passengers unfair​

Premier says pipeline talk puts First Nations' support of B.C. major projects at risk​

A spirited B.C. Premier David Eby took aim at the federal government Thursday over what he says is the unfair treatment of B.C. ferry passengers before accusing Alberta Premier Danielle Smith's aggressive pipeline push of threatening the viability of other projects in his province.

Eby made the comments in Ottawa after having dinner with Prime Minister Mark Carney Wednesday evening. He's also meeting with key cabinet ministers during his visit to the capital.

"I am obviously disappointed that there hasn't been an increased emphasis on the incredibly unfortunate treatment of ferry users in British Columbia compared with ferry users in Eastern Canada," Eby said.

The premier said he told Transport Minister Steven MacKinnon he was upset the federal government is paying to build ferries for Atlantic Canada but is only offering B.C. a low-interest loan for the same purpose.

https://www.cbc.ca/news/politics/eby-smith-carney-pipeline-ferries-1.7637233