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Business Not As Usual: What Kinder Morgan Isn’t Telling Investors

kinder morgan IPO climate change

Kinder Morgan is providing potential investors with shoddy information, according to a complaint filed with the Alberta Securities Commission by Greenpeace Canada last week.

The formal complaint contends the company’s draft prospectus — a legal document prepared for investors ahead of its massive $1.75 initial public offering (IPO) — failed to properly disclose future Asian oil demand and the financial impacts of climate policy.

It turns out that Kinder Morgan used demand forecasts that assume “business as usual” for oil consumption, which effectively means no serious attempt to keep global warming below two degree celsius.

Hunter-Funded Wildlife Agency Quietly Announced Before B.C. Election

Steve Thomson, former minister of Forests, Lands and Natural Resource Operations

A plan to form a new, independent wildlife management agency in B.C., which would relieve the provincial government from managing contentious wildlife issues such as grizzly, wolf and caribou populations, is generating anxiety among some conservation groups who fear the structure of the new program could prioritize the interests of hunters over wildlife.

The proposal for the new agency, first announced in March, was scant on details, but Steve Thomson, then minister of Forests, Lands and Natural Resource Operations, set a fall start-up date and set aside $200,000 for consultations with conservation and hunting groups.

Government is afraid to manage wolves, for example, or afraid to manage grizzly bears in some cases because of the politics of that,” then energy and mines minister Bill Bennett, an avid hunter and supporter of the controversial grizzly bear trophy hunt, told an East Kootenay radio station.

Hopefully an agency that is separate from government can make decisions that are in the best long-term interest of wildlife and just forget about the politics and do what is best for the animals,” Bennett said.

Scientists Map Full Scale of B.C. Wave Energy Potential For First Time

Wave energy

This article originally appeared on The Climate Examiner

British Columbia now has sufficient detailed information about the height, frequency and direction of its coastal waves to start developing and testing wave energy converters in the ocean, according to a new report.

Quantifying the amount of energy contained in waves as they propagate — or more simply, the ‘wave energy transport’ — is more complex and intricate than assessing the energy contained in wind, tidal or solar resources. In general, these energy sources can be described using a single variable; air speed, water speed and incoming solar irradiation, respectively. In contrast, wave energy transport is multi-dimensional and depends on a variety of factors.

‘We Just Want the Truth’: Commercial Customers Warn B.C. Hydro’s Forecasts Could Lead to Costly Oversupply

BC Hydro President Jessica Mcdonald

An association representing B.C.’s commercial sector and business interests says it has compelling evidence that B.C. Hydro has over forecasted electricity demand over the past 50 years — leading to anticipated revenues “that won’t show up” and creating a large existing electricity surplus roughly equal to the power from the Site C dam.

The end result, according to David Craig, the executive director of the Commercial Energy Consumers Association of B.C., could be cumulative new hydro rate increases so significant that that some industries in B.C. may no longer be able to compete as well in their world markets, potentially risking the viability of some businesses and the jobs they support.

Craig confirmed that his association is challenging B.C. Hydro’s projections of power demand — known as “load forecasts” — in an on-going proceeding at the B.C. Utilities Commission, the agency responsible for approving hydro rate increases.

We just want to get the truth,” said Craig, who previously spent more than 20 years working for B.C. Hydro in various management positions, including as the head of the utility’s accounting group and internal audit function.

Trudeau Promised to Fix the National Energy Board. Here’s What His Expert Panel Recommends

Justin Trudeau National Energy Board Modernization

After six months of consultations, the National Energy Board (NEB) Modernization Expert Panel has delivered its long-awaited report.

The results are damning.

In our consultations we heard of a National Energy Board that has fundamentally lost the  confidence of many Canadians,” the five-member panel wrote. “We heard that Canadians have serious concerns that the NEB has been ‘captured’ by the oil and gas industry.”

The 87-page report issued 26 key recommendations to repair the oft-criticized quasi-judicial tribunal, responsible for regulating interprovincial and international oil, gas and electricity projects.

Those include establishing a one-year review process by cabinet to ascertain whether a major project meets “national interest” prior to regulatory review, replacing the NEB with a “Canadian Energy Transmission Commission” and placing a broader focus on interprovincial transmission lines and renewable energy.

In addition, the panel recommended the government create a new agency responsible for collecting information about energy, relocate board headquarters back to Ottawa, considerably improve consultation with Indigenous peoples including an Indigenous Major Projects Office and extend the timelines for review of major projects (which were accelerated under the previous Conservative government).

Civil Suit Alleges B.C. Blacklisting Forestry Consultant Who Warned of Timber Overcutting, Faulty Data

Forestry has been a passion and a career for Martin Watts for 25 years, but, since attempting to point out problems with B.C.’s process for setting logging rates, his forestry consulting business has nosedived and Watts is claiming in a civil suit that he was blacklisted by the provincial government.

My business doesn’t really exist any more except on paper. It has caused a lot of hardship. I am funding this case through my retirement savings,” Watts said in an interview with DeSmog Canada.

However, the battle is worthwhile because it is vital that the public be made aware of inaccuracies in the Timber Supply Review Process, which is used by the Chief Forester to determine the Annual Allowable Cut — a calculation of how much of the forest can be cut each year, said Watts.

Corrupted data and unvalidated computer models are being used to estimate how much timber is in B.C.’s forests and, since budget and staff cuts started in 2002, many of the inventories are 20 years old, according to critics.

B.C. Government Delays Release of Site C Budget Docs Until After Election

B.C. Premier Christy Clark

After many months of delay and an attempt to charge almost $1,000 to release an updated budget and timeline for the Site C dam, the B.C. government has finally agreed to provide new information about the most expensive publicly funded project in B.C.’s history.

But the public will not be privy to the information until May 30, three weeks after the provincial election, B.C. Energy Minister Bill Bennett’s office has informed DeSmog Canada following a Freedom of Information request.

Sean Holman, a journalism professor and freedom of information advocate, said withholding such important knowledge on the eve of an election is an unfortunate example of continued efforts by provincial governments across the country to “fortify secrecy rather than to facilitate openness.”

Unmonitored Mining Pollutes Fraser River, Threatens Salmon Runs: Report

Fraser River

Hundreds of placer mines, which have never undergone environmental assessments, are operating in the Fraser River watershed with minimal government oversight despite mounting evidence that the operations pollute water and harm salmon, a report by the Fair Mining Collaborative has found.

Placer mining involves digging up gravel adjacent to streams and rivers and washing it to extract the gold or other minerals in the sediment. In addition to mines that use excavation equipment, there are thousands of hand-mining operations, many of which do not have permits, the report found.

The report, commissioned by First Nations Women Advocating Responsible Mining (FNWARM), calls for a moratorium on claim staking and work permits until the process is reformed and adequate safeguards are put in place, with First Nations given a partnership role in coming up with rules and regulations.

I go around our territory and see all the destruction in the back country. It’s criminal if you ask me,” Bev Sellars, FNWARM chair and former chief of the Xat’sull (Soda Creek) First Nation, said in an interview.

Scientists Find Methane Pollution from B.C.’s Oil and Gas Sector 2.5 Times What B.C. Government Reports

Methane pollution B.C.

New, groundbreaking research from a group of scientists shows B.C.’s estimates of methane pollution from oil and gas activity in the province’s Peace region are wildly underestimated.

Using infrared cameras and gas detection instruments at over a thousand oil and gas sites during a three-year period, scientists from the David Suzuki Foundation in partnership with St. Francis Xavier University recorded fugitive methane emissions being released from facilities directly into the atmosphere on a perpetual basis.

The study estimates methane pollution from industry in B.C. is at least 2.5 times higher than the B.C. government reports. Methane is a potent greenhouse gas with the warming potential 84 times that of carbon dioxide over a 20 year period.

Will Youth Voter Turnout Decide the B.C. Election?

B.C. election youth vote

Only two weeks remain until Election Day in British Columbia and one of the biggest questions to be answered between now and then is how many millennials — voters between the ages of 18 and 34 — are going to get out to vote.

In the past, we’ve had a really low youth voter turnout,” Raaj Chatterjee, a third-year engineering student at Simon Fraser University and organizer with Young Climate Voters B.C., told DeSmog Canada.

I think that’s starting to change,” Chatterjee said.

Especially with events in the States… Tweet: “A lot of people are waking up & being more involved or at least know what’s going on in politics” http://bit.ly/2p2kCLJ #bcpoli #bcelxn17a lot of people are waking up to being more involved or at least know what’s going on in politics.”

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