Monkey Business - Or Socialist Bureaucrats at Work!
In today's G&M Business section: News about Alcan and Socialist Government Idiots!
In a move that Hugo Chavez would be proud to claim as his own .......
The BC Utilities Commission (BCUC) has denied the aluminum mining and smelting company Alcan the right to determine the value of electrical power it generates with it's own facilities and to sell that power at market rates.
Alcan was granted water rights and the permission to generate hydro-electricity for it's operations at Kitimat BC back in 1950 where it built the two dams and generating facilities at both Kitimat and Komano for a cost of $500million at the time. Alcan was allowed to sell excess power back to the provinces Hydro Utility BC Hydro for market rates. The province got private investors to pay for two generating stations and got power for no more than it would have paid for the same from any other source.
Now Alcan has a proposed $2Billion expansion set up to get underway at Kitimat and a signed deal with BC Hydro to continue purchase of excess power at market rates for the next 20 years.
Still a good deal for the province and for the Utility because they get more capacity for the future without having to pony up the capital investment ( make the taxpayers pay for it). In addition the large smelting operation grows providing more employment and the lifeline of the community is extended another 20 years.
But is this good enough for the meddling socialists in BCUC? Hell no!
BCUC has refused to allow Alcan and BC Hydro to follow through on the deal.
Aside from all the legal ramifications, just what sense does this make?
Well to a thinking person living in the real world none!
But to those witless tools at BCUC it's better to try to strong arm the business and screw it's investors along with the community involved than to allow a private enterprise to benefit from it's own investment.
Alcan has served notice that it will withdraw from the project, effectively putting an end to the community of Kitimat!
Thanks to people like the directors of BCUC ...... The province of BC is surely becoming a Canadian version of Hugo Chavez's Venezuela.
OMMAG
In a move that Hugo Chavez would be proud to claim as his own .......
The BC Utilities Commission (BCUC) has denied the aluminum mining and smelting company Alcan the right to determine the value of electrical power it generates with it's own facilities and to sell that power at market rates.
Alcan was granted water rights and the permission to generate hydro-electricity for it's operations at Kitimat BC back in 1950 where it built the two dams and generating facilities at both Kitimat and Komano for a cost of $500million at the time. Alcan was allowed to sell excess power back to the provinces Hydro Utility BC Hydro for market rates. The province got private investors to pay for two generating stations and got power for no more than it would have paid for the same from any other source.
Now Alcan has a proposed $2Billion expansion set up to get underway at Kitimat and a signed deal with BC Hydro to continue purchase of excess power at market rates for the next 20 years.
Still a good deal for the province and for the Utility because they get more capacity for the future without having to pony up the capital investment ( make the taxpayers pay for it). In addition the large smelting operation grows providing more employment and the lifeline of the community is extended another 20 years.
But is this good enough for the meddling socialists in BCUC? Hell no!
BCUC has refused to allow Alcan and BC Hydro to follow through on the deal.
Aside from all the legal ramifications, just what sense does this make?
Well to a thinking person living in the real world none!
But to those witless tools at BCUC it's better to try to strong arm the business and screw it's investors along with the community involved than to allow a private enterprise to benefit from it's own investment.
Alcan has served notice that it will withdraw from the project, effectively putting an end to the community of Kitimat!
Thanks to people like the directors of BCUC ...... The province of BC is surely becoming a Canadian version of Hugo Chavez's Venezuela.
OMMAG
Labels: Business, Communist Asshats
posted by OMMAG at 11:43 a.m.
2 Comments:
Thank you for your words. As a citizen of Kitimat who grew up here, I dread what the next few weeks and months will bring to my hometown. I guess instead of 500 retired employees if the project goes ahead, it will be 1,500 unemployed employees looking for work. God help us!
Don't give up hope...go after your government!
Fighting for survival means tooth and nail!
Be strong and good luck!
Sincerely,
OMMAG
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