John Young: LNG the wrong choice at the wrong time for B.C.
Re: LNG’s economic benefits for British Columbians are real and meaningful
As 2023 begins, B.C. Premier David Eby and his new cabinet are setting priorities and determining which policies of the Horgan government to carry forward and which to cast aside. Liquefied natural gas exports touch on a host of critical issues that Eby and key ministers are considering.
A growing body of research tells us LNG is a losing economic proposition. To start, analysis of medium- and long-term Asian energy demand indicates that LNG from B.C. would arrive too late to take advantage of a temporary bump in prices precipitated by geopolitics. Further analysis from the Canadian Centre for Policy Alternatives and the International Institute for Sustainable Development shows that revenue claims are exaggerated and that provincial government coffers would not benefit from increased fossil fuel production that depends on public financing while foreclosing other economic options better aligned with the global energy transition. Moreover, the industry’s job-creation projections are also overly optimistic.
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