Common Sense Canadian
 

How Liberal Govt is Bankrupting BC Hydro, Province

PostedJuly 9, 2013 by in
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On the eve of Premier Christy Clark’s by-election in Kelowna – home of the late premier and BC Hydro founder, WAC Bennett – Damien Gillis exposes the Liberal party’s true economic track record, including the $100 Billion in secret taxpayer liabilities they’ve hidden from the public. Foremost among these debts are $55 Billion worth of sweetheart private power contracts which are driving up power bills and putting BC’s venerable public power utility on the path to financial ruin.

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13 Comments


  1.  
    Ron

    The question is what can be done to save BC hydro for everyone in BC?




    •  
      Mr.Enviro

      we can save BC by ousting the Liberals out of power until the next election we are all frked and we are helpless




    •  
      Darryl R Taylor

      A) Ensure that the BC Liberals are not allowed another term with any of their members even remotely close to the Cabinet or premier’s office.

      B) Thoroughly investigate all discrepancies within the last 6-15 years in the dealings of the incumbent party, including even reviving any aspects of the sale of BC Rail that would not invoke double jeopardy restrictions, so as to assess all vulnerabilities of Victoria and associated structures/Ministries to outside, clandestine influence.

      C) Perform a thorough “housecleaning” of the upper echelons of the public service in order to identify, remove, and if need be, prosecute participants and accessories to the abuse of the public’s trust that has occurred.

      D) Lock in the incoming party to courses of action that are both transparent and hold all parties to full accountability in cases of demonstrable intent that is biased towards self, ideology, or anything but the performance of the duties of office.

      E) Full auditing of BC Hydro’s assets and liabilities, with full attempts to recoup any wrongfully appropriated proceeds or value equivalence from parties that have profited from malfeasance, with additional punitive levies as is appropriate to their willing involvement in what amounts to defrauding the body public of British Columbia.

      F) Determine a more concrete system for reinforcing the concept of ownership of provincial Crown corporations, possibly something analogous to individual ownership of non-transferrable shares (doubtful), perhaps regional or sector based ombudspeople delegate to the utilities company on behalf of both individual and industry rate payers..

      G) Maintaining full transparency, work out a 5-10 year plan for paying down the current arrears, with reasonable means of subsidizing or otherwise softening the impact on the lowest income earning demographics.

      (this is actually a point where something like the non-transferrable “shares” mentioned earlier might come into play as something of tangible value issued to all private citizens whose payments towards the reduction of the outstanding debt exceeded a base threshold, would then become eligible for either a dividend remission to their utilities accounts on a periodic basis after the principal of the debt has been paid off, or have a limited voting status in the future policy making of BC Hydro).

      H) Turn off lights when not needed.




  2.  
    Archives

    Friday, 12 July 2013 12:55 posted by David

    Ponzi Economics 101!

    Friday, 12 July 2013 11:53 posted by Al Ens

    Very interesting and informative comments.

    Friday, 12 July 2013 10:15 posted by Gordon Hartman

    Thank you Damien. A discouraging state of affairs. However, we should never forget that the public, in all its wisdom, puts these political people into power. We seem to like the system.
    Beyond carrying out all of these activities, our society worships at the alter of growth. Where, in the end, are all of these processes supposed to take us? More development – more people, more jobs needed, more development, etc. etc. —–.
    Perhaps the greatest challenge, our species faces, lies in having human numbers and activities in some kind of balance with he space and resources of the planet. No political system seems to recognize this. “Grow, grow, grow”

    Thursday, 11 July 2013 22:29 posted by Richard Hughes

    Damien big thanks to you and Rafe and your many associates for what you do.

    Thursday, 11 July 2013 20:42 posted by Damien Gillis

    My latest story – on Bennett’s puzzling interview with CBC this week, including the revelation that his govt may be ready to ditch the underlying policy justification for private power contracts: http://thecanadian.org/item/2194-changes-on-way-to-bc-private-power-policy?-energy-minster-offers-interesting-answers

    Thursday, 11 July 2013 12:34 posted by Damien Gillis

    Thanks Lou. I discuss some of these solutions in this piece here: http://thecanadian.org/item/2178-$55-billion-private-power-racket-bc-hydro-debt-ipp-energy-electric-damien-gillis

    Energy Minister Bill Bennett was on CBC Monday and vowed his govt has no plans to privatize Hydro, acknowledging it would be a very unpopular move politically. But then, we’ve heard this refrain somewhere before with something called BC Rail…

    Thursday, 11 July 2013 11:12 posted by lou

    Well summarized, thanks. I have followed this story now for a couple of years and certainly directed people to the CSC to read.

    What I want to discuss is this; can this political agenda of destroying HYDRO be stopped and turned around? You hint that if we had a 35 -40% increase in rates immediately that we might be able to pay the deficit that has built. Under a government that wished to save the utility then this might work but I don’t have faith that this is the case with the BC Liberals.

    Is there a solution under the BC Liberals energy policy that saves BC Hydro?

    Wednesday, 10 July 2013 20:50 posted by Peter GriffithsM

    That was an outstanding and very credible compilation of facts and your presentation was excellent. Your knowledge and dedication were obvious – too bad the MSM are fluffing this story, when they are not ignoring it completely. Keep up the good work and let me know if there is any way I can contribute. I spend 30+ years working as a faller – cutting logs from my hard won quota, and in 1983 was persuaded by a whole whack of BC Independent Loggers to run against Bill Bennett and call him to task for the abysymal state of our forest resources. I wrote the Timber Column for Equity Magazine till 1988.

    How quickly nothing changes, unless it’s for the worse.

    Wednesday, 10 July 2013 17:36 posted by Roger

    Well done Damien… well presented and explained in terms most can get a handle on..thank you! Would like to get your newsletter updates.

    Wednesday, 10 July 2013 17:09 posted by J

    I’m getting an error message when trying to play this video from your site. But it will play from http://www.youtube.com/watch?v=FtJimgNPdE8

    Tuesday, 09 July 2013 21:54 posted by Knute

    We should be asking how Gordon Campbell ended up with a plumb job in London. He was, after all, responsible for these policies. Christy Clark isn’t bright enough to figure this out. I am not sure Gordon was either. However, he did write (or oversee) the legislation that said Hydro could not be sold. At same time he was creating policy (or administering) that everyone but our local media knew would bankrupt Hydro. Classic and clever. Gordon is living large in London, Christy is getting blamed and the people with the brains and resources to pull this kind of thing off have got the biggest prize of all–the most valuable hydro electric utility in the world!!

    Tuesday, 09 July 2013 21:39 posted by Louise Taylor

    Great talk, Damien. I can not wait for you and Erik to come to Pemberton to explain the insane policies of the BC Liberals that are the ruin of BC and our environment. Greetings, Louise

    Tuesday, 09 July 2013 18:57 posted by Laura Lynch

    thank you so much for the insight….. I have been aware of this for some time… I worked as a university student on WAC Bennett Dam and was in awe of Mr. Bennett at the opening and dedication of the dam. Christy Clark is the ruination of this province, and to not recognise what she is doing, is just plain insane. People…. get educated or we will all be broke in less than 5 years!!! I would like to receive your newsletter, so if you would be so kind as to send it to me I would be so grateful, thanks for the thump on the head…..

    Tuesday, 09 July 2013 10:19 posted by Tana Frie

    Thanks Damien! Well done. Doing my best to spread the word.





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