Offshore profits

To muddy the waters further, we find out that Japan (Japex) owns 10 per cent and Brunei (Petroleum Brunei) owns three per cent

I recently read a report  regarding a Liquefied Natural Gas (LNG)  project on Lelu Island near Prince Rupert. The company we might imagine is a real Canadian organization with the very  Canadian Name Pacific Northwest. Then we find out that Pacific Northwest is 87 per cent owned by Petronas in Malaysia. Petronas  also owns progress Energy Canada (natural gas properties in  northeastern British Columbia)

To muddy the waters further, we find out that Japan (Japex) owns 10 per cent and Brunei (Petroleum Brunei) owns three per cent.

Unless my math is wrong this adds up to 100 per cent.

I can’t find a Canadian name in this mix. Now the Malaysian company wants to sell  some of its  87 per cent to China and India.

So we seem to have a B.C. resource divided among five offshore companies.

It is difficult to see how Canadian interests or profit will ever come to B.C. or Canada.

Janet C. Miller

Sidney

 

 

Just Posted

420 celebrations turn over new leaf at B.C. legislature

Cannabis is legal for the first time in the 21-year existence of the 420 event in Victoria

VIDEO: ‘Stewie the Starfish’ mascot revealed at Premier League kickoff party

Pacific FC kickoff party scores in Victoria Inner Harbour

Big Brothers Big Sisters’ Bowl for Kids’ Sake returns to Langford

Annual fundraising event held from April 26 to 28

Report calls on Saanich to expand multicultural programming at recreation facilities

Report also notes that Saanich could do more for sexual minorities.

WATCH: Movie star and PACE alum Calum Worthy talks musical theatre and his career

“American Vandal” and “Austin and Ally” actor has been returning to the program for over 20 years

POLL: How often does your family use BC Ferries?

Navigating the lineups for BC Ferries is a way of life for… Continue reading

Crime Stoppers most wanted for Greater Victoria for the week of April 16

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Waste not: Kootenay brewery leftovers feed the local food chain

Spent grains from the Trail Beer Refinery are donated to local farmers and growers, none go to waste

Deck collapses in Langley during celebration, 35 people injured

Emergency responders rushed to the Langley home

B.C. mom wages battle to get back four kids taken from her in Egypt

Sara Lessing of Mission has help from Abbotsford law firm

VIDEO: Fire guts Peachland home

Crews are still on scene pumping water onto the blaze in the Okanagan neighbourhood

$6K raised in one day’s time for family of woman gunned down in Penticton

GoFundMe launched for family of Darlene Knippelberg, to pay for funeral costs and other expenses

B.C. mountain biker sent home from hospital twice, despite broken vertebrae

Released in Maple Ridge to go home with three fractured vertebrae

Most Read