tag:blogger.com,1999:blog-5235138415013046381.post311924659698573679..comments2023-10-25T07:29:40.789-02:30Comments on UNCLE GNARLEY: THE WONKY ECONOMICS OF MUSKRAT UNVEILED (PART II)Des Sullivanhttp://www.blogger.com/profile/02566013585647491614noreply@blogger.comBlogger85125tag:blogger.com,1999:blog-5235138415013046381.post-62402324931762828562018-12-21T12:02:12.618-03:302018-12-21T12:02:12.618-03:30Going back to Mr. Vardy's wonky economic post,...Going back to Mr. Vardy's wonky economic post, we have from table 2, an annual MF financial deficit of 500 million dollars in 2010 rising to 700 million over time, and that is assuming nothing else goes wrong. It also assumes they up our power rates, manage to sell excess electricity and doesn't include additional major expenses like upgrading Holyrood or spare parts or the North Spur failing etc.<br /> http://unclegnarley.blogspot.com/2018/11/the-wonky-economics-of-muskrat-unveiled.html<br />In the 2018 fiscal update, everything is going bad. https://www.fin.gov.nl.ca/fin/publications/2018_Fiscal_Overview_Presentation.pdf<br />We are currently running a budget deficit of $550 million. If we were to add another $500 million to pay for the MF debacle, it means we would have to cut the budget by a billion dollars to break even. The 2018 expense budget is 8.4 billion.<br />Is it possible to permanently cut the budget by 12 percent? Even that wouldn't be enough with a declining population, lopsided age distribution (with boomers retiring), health costs going up due the ever aging population, MF asset write-downs resulting in higher borrowing rates, and oil prices staying low.<br />I'd guess we would have to shoot for a 20% permanent reduction in expenses in order to have a balanced budget and small cash reserve. I don't think I could stomach that without seeing several of those responsible in the penitentiary.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-15332038653159764402018-11-15T11:02:15.566-03:302018-11-15T11:02:15.566-03:30Osborne, not Osmond, sorry.Osborne, not Osmond, sorry.Robert G Holmeshttps://www.blogger.com/profile/05356463540446993862noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-30029208033141931602018-11-15T10:36:31.770-03:302018-11-15T10:36:31.770-03:30M. Thompson confirms the extent that Gov. Policy d...M. Thompson confirms the extent that Gov. Policy drove the process. NALCOR just implemented the policy, to perfection. Still there is slim awareness of the risks deemed acceptable under a highly questionable Energy Strategy. Had there been heavy industrialization, (a la Smallwood/Valdemanis), providing jobs jobs jobs, paying the overblown capital costs, (Bowaters, AND, Long hr, Come by chance, etc.), Mr. Osmond would have no problem balancing the budget, keeping civil servants salaried, hospitals and schools open, eh wot? Robert G Holmeshttps://www.blogger.com/profile/05356463540446993862noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-46241366968126461572018-11-15T05:14:14.379-03:302018-11-15T05:14:14.379-03:30This is also another interesting area of research....This is also another interesting area of research. As I said in my post at 16:30 on the 13 November, we here in newfoundland and the rest of Canada are out of touch with the research and development taking place throughout the world. Part of the problem is that most of the research dollars are being channeled to areas of fossil fuel development. On only has to look at the number of sites in the capital cities that are named after an oil field or oil company to realize that these corporations also control our research and develop arms which is nothing more than recycling dollars back into their coffers. This type of research must be considered in long term planning for the future since technology could be developed that will wipe out you investments.<br /><br />There is the possibility of a 30 to 40% efficiency for solar panels very soon and should these researches succeed, it will upend the energy markets. <br /><br />https://renewablesnow.com/news/perovskite-silicon-tandem-solar-cells-reach-255-at-hzb-633158/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-84450853250715665452018-11-14T22:59:48.003-03:302018-11-14T22:59:48.003-03:30So NL owns an asset — namely the debt to build thi...So NL owns an asset — namely the debt to build this hydro generating facility at a time when the demand for electricity is increasing. Herbhttps://www.blogger.com/profile/01474083414027573138noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-26458291816170203472018-11-14T22:07:00.071-03:302018-11-14T22:07:00.071-03:30Good idea, go ahead, I don’t know how. Good idea, go ahead, I don’t know how. Tor Fosnaeshttp://mobilewords.canoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-32385167426170563682018-11-14T19:45:12.407-03:302018-11-14T19:45:12.407-03:30"I understand that you were satisfied with th..."I understand that you were satisfied with the steaming pies of bullshit propaganda excreted by Nalcor in a purely perfunctory manner so as to grease the way to sanction of what was soon to become a colossal fiasco and consequent betrayal of the public trust, I fully understand that... but wouldn't you agree that there was no rational basis to your satisfaction?"<br /><br />"No." said Dodgy Bob with a sickeningly arrogant smirk.<br /><br /><br /><br />To gaol with those who would deceive the public into penury.<br /><br />Right to gaol with the lot of them...<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-2115087811759895032018-11-14T18:54:01.527-03:302018-11-14T18:54:01.527-03:30Your UG correspondent is no an hour from Houston. ...Your UG correspondent is no an hour from Houston. Being a computer dummy, needed some help in getting into the airplane WiFi. Heard that Nfld power system went out this morning. Was that true, and what the cause? Late leaving St johns, 1.5 hrs for deicing. Watched a little of the Inquiry at Torono Airport, Evasive Thomson I think, who could not confirm Nalcor had world class hydro mega project engineers. WOW, what a revelation.<br />Repporting form 30,000 ft. So this Inquiry watched almost from outer space.<br />WinstonAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-5366478556377884912018-11-14T18:02:36.011-03:302018-11-14T18:02:36.011-03:30I keep hearing Todd Stanley’s testimony, “The tail...I keep hearing Todd Stanley’s testimony, “The tail was wagging the dog!”<br /><br />I can’t think of a better description of Nalcor?Bottom Feeders Anonymoushttps://www.blogger.com/profile/07148643222872976241noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-86887276508331368062018-11-14T17:16:21.427-03:302018-11-14T17:16:21.427-03:30So what did we learn new today about this teavesty...So what did we learn new today about this teavesty. Probably not much but reinforces and confirms the understanding that there was just one integrated team. The premier, high ranking bureaucrats, and the top managers at nalcor. But the nalcor team was dominate, they called the shots having convinced the others that they were world class. The came from the oil industry. So they were experts in whatever. I remain to be corrected, but I suspect those oil people were mid to low level managers in the oil industry. That were not the types that dwelt in the high castles of New York and London and others oil capitols of the world, except in the eyes of the bureaucrats. They were not the types that gave the word on the "Go ...No..Go for a major oil project around the world costing billions. They may have taught they were, but just in their own minds because they worked in the oil industry. The burceruates were willing to be carried around on the backs of nalcor where they could do their oversights from that lofty position. Nalcor would be the gatekeepers of all the documents and slide shows and others could only view them under strick supervision. The might Dracular would show his fangs and the towering Frankeistein stood by as the cold eyes review, should any indepth question arise. That was the relationship of the integrated team. This is how the province was being governed and billions spent. Where was my elected representive, there to represent the average Joe and jane. No where to be seen. They were religated to the lower levels of the John Q. Public. Occasional cabinet was asked to look, but no questions allowed, and the elected MHA s only role was "yea" when it came time to vote on the sanctioning says Joe blow.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-87558091976406868792018-11-14T16:38:47.630-03:302018-11-14T16:38:47.630-03:30The other guy was Todd.
Wow 2 brain farts in the ...The other guy was Todd.<br /><br />Wow 2 brain farts in the one day! LolBottom Feeders Anonymoushttps://www.blogger.com/profile/07148643222872976241noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-83637662510678562982018-11-14T16:36:39.001-03:302018-11-14T16:36:39.001-03:30Anon 1329
My mistake his name is Robert. LolAnon 1329<br /><br />My mistake his name is Robert. LolBottom Feeders Anonymoushttps://www.blogger.com/profile/07148643222872976241noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-74856338190648608632018-11-14T14:37:50.324-03:302018-11-14T14:37:50.324-03:30What is the point of having a manager and director...What is the point of having a manager and director of the electric industry (Department of Natural Resources) if there is a generation monopoly (Nalcor) and it is all government anyway? They could just let Nalcor run the show provide them with a nice self-inking stamp that states "approved by all AHJ" (authorities having jurisdiction). Perhaps another stamp for "this powerpoint approved by DEW" or "Crony seal of approval".<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-56720144801729228932018-11-14T13:44:53.793-03:302018-11-14T13:44:53.793-03:30Bloomberg is predicting Lithium ion battery cost t...Bloomberg is predicting Lithium ion battery cost to fall to $70/kwh by 2030, one third of today's price. Storage opportunities are coming which improve wind and solar utilization and stability and make obsolete expensive baseload generation like nuclear, coal, oil, and even natural gas and remote mega hydro. If only Stratton's technology factor included this!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-6816954025681793262018-11-14T13:38:31.494-03:302018-11-14T13:38:31.494-03:30I remember Ricky Cashin commented about Gov. polic...I remember Ricky Cashin commented about Gov. policy being akin to Theocracy.Robert G Holmeshttps://www.blogger.com/profile/05356463540446993862noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-83547402824607452722018-11-14T13:37:28.510-03:302018-11-14T13:37:28.510-03:30So many Pauls that contributed to the "pall&q...So many Pauls that contributed to the "pall"over our future.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-50204448558812331582018-11-14T13:36:17.595-03:302018-11-14T13:36:17.595-03:30Note that historically, Paul was an exponent of &q...Note that historically, Paul was an exponent of "Faith over Law". NL political regimes, promoting Muskrat , relied on faith over due process.<br /><br />Today, Paul's epistles continue to be vital roots of the theology, worship and pastoral life in the Catholic and Protestant traditions of the West, as well as the Orthodox traditions of the East.[19] Paul's influence on Christian thought and practice has been characterized as being as "profound as it is pervasive", among that of many other apostles and missionaries involved in the spread of the Christian faith.[8] Augustine of Hippo developed Paul's idea that salvation is based on faith and not "works of the law". Martin Luther's interpretation of Paul's writings influenced Luther's doctrine of sola fide. Wikipedia on St. Paul:-)Robert G Holmeshttps://www.blogger.com/profile/05356463540446993862noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-24739619324626963202018-11-14T13:33:02.203-03:302018-11-14T13:33:02.203-03:30I wonder was the newly created "VP" job ...I wonder was the newly created "VP" job given to Paul for all his good work or for his helping in making MF 1st ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-27485439704066641892018-11-14T13:29:42.328-03:302018-11-14T13:29:42.328-03:30Hey Bottom Feeder - one question for you
1. is eve...Hey Bottom Feeder - one question for you<br />1. is everyone named Paul ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-70759995251678431742018-11-14T11:36:43.021-03:302018-11-14T11:36:43.021-03:30Repeatedly, any suggestion to our leaders at the t...Repeatedly, any suggestion to our leaders at the time to work with QC, on any collaborative deal was met with an emotional No way! Logic was discarded in favour of the NL "Hydro via Anglo Saxon route policy". This policy then as now is the "only and final solution". Muskrat is a continuation and consequence of such narrow thinking. Note this morning's witness has an air of Mr. Clean certainty on all this.Robert G Holmeshttps://www.blogger.com/profile/05356463540446993862noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-68695012737143468142018-11-14T11:35:03.677-03:302018-11-14T11:35:03.677-03:30Hey Levy Payer,
Ontario and Quebec offered someth...Hey Levy Payer,<br /><br />Ontario and Quebec offered something like that to NL not so long ago. NL turned the offer down.<br /><br />Main reason why NL refused was that electricity was to be re-sold though HQ instead of selling it directly itself. The thing is, when it is time to power such a significant load, not GI or even UC can do it all by itself. Even if powerful enough, to rely on a single power plant to power an entire region is not strategic at all. For that reason, every plant must be managed as part of a bigger fleet. In this case, that means being part of HQ's fleet.<br /><br />NL refused the idea of such a collaboration. Instead of selling that power for it to be used in such a larger scenario, NL preferred not having the project built at all.Heracles31https://www.blogger.com/profile/04598467925778515764noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-38819380641959110422018-11-14T11:34:00.430-03:302018-11-14T11:34:00.430-03:30Watching Paul Thompson’s testimony at the Inquiry ...Watching Paul Thompson’s testimony at the Inquiry this morning there is definitely a theme that is emerging?<br /><br />Government officials considered Nalcor to be a Government department therefore they are us, and we are all Government.<br /><br />We trusted and believed whatever we were seeing, and/or hearing from Nalcor as being factual and correct to the best of their knowledge!<br /><br />As a result we didn’t seek to ask for documents etc. they just accepted whatever Nalcor had put in one of their “infamous” power point decks!<br /><br />If I recall Paul Stanley’s testimony he said the entire project was communicated by power point decks?<br /><br />Amazing!Bottom Feeders Anonymoushttps://www.blogger.com/profile/07148643222872976241noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-63942173529736304052018-11-14T09:15:42.211-03:302018-11-14T09:15:42.211-03:30Killing "Big Wind" in Labrador was also ...Killing "Big Wind" in Labrador was also part of the MF first plan.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-7326865305162715472018-11-14T09:13:15.350-03:302018-11-14T09:13:15.350-03:30Wind and batteries - have a read
https://illuminat...Wind and batteries - have a read<br />https://illumination.duke-energy.com/articles/how-batteries-make-more-renewables-possibleAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-25521512942689823292018-11-14T08:17:13.248-03:302018-11-14T08:17:13.248-03:30Was this optioned looked at?.....Interconnect to N...Was this optioned looked at?.....Interconnect to NA grid via Line to NS, develop Gull Island in partnership with Que. This Gull Island power can help power NB, NS, NL, PEI-All one big partnership with 5 provinces. Sounds too logical to work.Levy Payerhttps://www.blogger.com/profile/10196300514529410225noreply@blogger.com