Since its creation, Nalcor has existed in a perpetual conflict of interest of one kind or another.
SRBP raised the issue of conflict of interest 2006 when Dean Macdonald – then chair of Nalcor’s board – accepted an appointment to the board of a company Nalcor was doing or was planning to do business with.
Nalcor has been in another sort of conflict of interest in it acted as lead negotiator for the provincial government and as an oil company at the same time. On the one hand its interest should be in maximising benefits to the province while on the other hand, its interest should be to lower costs in order to maximise corporate profits. The two things cannot exist side-by-side as the Hebron agreement demonstrates.
Again, SRBP pointed this out in 2006 when the Hebron talks fell apart and on several occasions subsequently.
Time hasn’t changed much.
