been told that the drop dead date for the sanctioning of the refit for the
Terra Nova FPSO is June 15th and that the decision must be unanimous among the
partners. Every indication is that there isn’t unanimity and that the likely
result will be that the refit will not go ahead and the field will be
decommissioned and abandoned.
With respect to the proposed World Energy GH2 west coast wind/hydrogen/ammonia project and the province’s role in it, will the province’s due diligence (as with the Muskrat Falls fiasco) again be ‘unique in its absence’?
Having survived in spite of themselves, in Opposition the Tories have been lazy and uninspiring. The fact that it is summer, and the House of Assembly is closed, admittedly makes their job tougher, except that the Party’s manifest weakness is not a seasonal problem.
He was an exceptional person. A gifted intellect for sure; irascible and argumentative, too. What endeared him to many was not just that he was analytical and insightful, but that he was honest and forthright. He was a public policy wonk; resource policy interested him most. He loved to travel and read; people, with something to say, were always important.
I must say that after the Muskrat Falls fiasco, I thought our government had finally learnt its lesson and would not to rush into another such scheme where calling it “green” was enough to suspend all critical analysis.
This province has a big leg up on virtually all other places around the world seeking to develop green hydrogen production; many have lfewer resource strengths than we have, and are making big plans to participate in what may be a very profitable new industry.
An international agreement is one thing, but doing it in Stephenville before the assessment process has even begun begs the question - How much integrity will this process have if these powers already agree that it will happen? How should one respond?
Given that over 11 TWh of energy production from the full World Energy development, a notional fee of 1 c/KWh as a form of land rent, would generate $110M. Should the operation be turning profits as high as $2B USD, this level of rent should not be the least bit objectionable.
Government’s handling of World Energy GH2’s wind power project on the Port au Port Peninsula contains the elements of scandal. This is a public policy catastrophe, one to which critical and costly issues remain either poorly understood or unexplained.