As the Globe and Mail editorial crowd display once again their profound and abiding ignorance of anything outside the small confines of their office and their skulls, let us notice on this American Thanksgiving that Danny Williams’ political successor can thank him for exactly nothing.
Williams announced last week not just his political obituary but the obituary of his successor.
His successor has only two choices.
The stupid choice is to carry forward with a deal that would, for example, allow Hydro-Quebec to scarf up 49% of the Lower Churchill and at the same time control all the export of power through Nova Scotia in a way that it cannot in Quebec. What’s more, the deal is a financial mess that promises to beggar the provincial coffers and the pocketbooks of the average Newfoundlander and Labradorian. Self-imposed desperation drove BRINCO to a disaster in 1969. So too has self-imposed desperation driven Danny Williams’ term sheet.
In the sensible choice, the deal dies. The only problem is that in killing it, one must go back to do the sort of deal that makes financial sense: wheeling the power through Quebec. On his way out, though, Williams has not only scorched the Earth across that border but sewn the ground with salt and infected it with a pestilence such that anyone going near it would catch the political equivalent of Ebola and AIDS in one.
People thought Brian Tobin shagged Roger Grimes on Voisey’s Bay and the Lower Churchill. At least Tobin left Grimes with a chance. Grimes wound up negotiating two deals, both of which will stand up to scrutiny for the tremendous benefits they did bring - in one case – and would have brought – in the other case - the latter being scuttled own by political conniving and perfidy.
No sir.
There are poisoned chalices and then there is the cup Danny Williams passed today.
- srbp -
10 comments:
Can you elaborate on how Hydro Quebec could own 49% of the project? Are you suggesting it might by Emera and take ownership that way? Aren't there NS legislated restrictions on ownership of assets owned by Nova Scotia Power (which Emera would hold the Lower Churchill related infrastructure through)?
Also, the contract would be governed by NL law allowing an expropriation of assets should such a situation arise. No?
Tell you what: there'll be plenty of time to discuss the myriad problems with this whole thing later on.
Today is a day for other things.
You posted this today and I'd like to know how you got to the scenario that you have proposed as possible. I'm not saying it's not possible but I'd like to know how you've identified this possibility, if it actually a possibility.
I look forward to your answer on this specific question as well as your explanation of how Emera could step in to replace Nalcor in any export deal.
All in due course.
Edward,
Muskrat Fall isn't the only poison that Williams left for his successor......negotiations with the NLMA, the long term care facility situation and health care facility in Corner Brook, the mess with the fishery, Grand Falls Windsor expropriation, poisoned relationship with Ottawa, the slow death of rural Newfoundland, and countless other files that required unpopular decisions to be taken. Williams has left a mess behind and woe to the person who has to clean that up and even greater woe to the people of Newfoundland and Labrador.
Again, Touton, a story for another day.
When? How difficult can it be to make a statement, like you have, and back it up? Did you make your comments before locating the facts to back them up?
Can you elaborate on how Hydro Quebec could own 49% of the project? Are you suggesting it might by Emera and take ownership that way? Aren't there NS legislated restrictions on ownership of assets owned by Nova Scotia Power (which Emera would hold the Lower Churchill related infrastructure through)?
Also, the contract would be governed by NL law allowing an expropriation of assets should such a situation arise. No?
How can Emera replace Nalcor in any export deal?
Why so impatient, piggy?
If you need to see the Term Sheet, call 729-3570 and ask for Danny. He's got another week on the job. i am sure they can send it to you by fax or e-mail. Then you can read it and draw your own conclusions.
or you can wait for my more detailed discussion of the whole Term Sheet.
In the meantime, just unknot your shorts and chillax.
Chillax?
A vernacular expression combining relax with "chill out".
Chillax.
As in, cool it. Be patient.
There's plenty of time to get to business. For now let us think of other things.
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