tag:blogger.com,1999:blog-5235138415013046381.post5963935113396065288..comments2023-10-25T07:29:40.789-02:30Comments on UNCLE GNARLEY: INSOLVENCY: LEARNING FROM THE PUERTO RICO MODELDes Sullivanhttp://www.blogger.com/profile/02566013585647491614noreply@blogger.comBlogger81125tag:blogger.com,1999:blog-5235138415013046381.post-76546809897293543312018-02-06T19:33:00.270-03:302018-02-06T19:33:00.270-03:30That is very interesting, You are an overly skille...That is very interesting, You are an overly skilled blogger.<br />I've joined your rss feed and look forward <br />to searching for extra oof your magnificent post. Also, I've <br />shared your web site in my social networksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-26914474378427512192016-12-21T10:59:08.210-03:302016-12-21T10:59:08.210-03:30I always find it difficult to comment on this blog...I always find it difficult to comment on this blog, in a manner that will contribute much to the richly intelligent discussions that are already on the page. Today I'll simply leave an example of a REAL "Way Forward" that we should collectively adopt and implement... starting now (imo) - http://www.publicbankinginstitute.org/iceland_forms_antiestablishment_government<br />Anonymous citizenhttps://www.blogger.com/profile/01889984580697117149noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-80795596982003972282016-12-18T23:10:54.820-03:302016-12-18T23:10:54.820-03:30Very good resumé of the important issues to be add...Very good resumé of the important issues to be addressed.Anonymoushttps://www.blogger.com/profile/07341048560339265318noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-5652270150376179972016-12-18T23:03:55.218-03:302016-12-18T23:03:55.218-03:30Very good point, However, I think it would be hard...Very good point, However, I think it would be hard to argue that Churchill Falls energy is subsidized. MF is another story. Anonymoushttps://www.blogger.com/profile/07341048560339265318noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-9274731651742888652016-12-18T17:33:11.315-03:302016-12-18T17:33:11.315-03:30There are also other negative implications with su...There are also other negative implications with subsidies...<br /><br />US electricity producers have been <br />scrutinizing HQ costs structure very closely for possible subsidies / dumping (in regard to HQ's US export sales). They are looking in anyways to shut the border to HQ.<br /><br />Not sure how Nalcor will fare when it'll attempt to dump power in the US market, at 20% of its costs...Ex-Military Engrhttps://www.blogger.com/profile/15209511368820589727noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-22854916551785836672016-12-18T13:48:52.883-03:302016-12-18T13:48:52.883-03:30David Vardy suggests that Russell at the Telegram ...David Vardy suggests that Russell at the Telegram is perhaps the only one who can take the issue to the main media. The issue being whether Muskrat should be put on ice subject to a comprehensive review of the wisdom of proceeding now or at a later date if appropriate.<br /> Can Russell do this.....maybe yes and maybe no.<br /> True, the delays on schedule, the continuous problems, the escalating costs, the reduced demand forecast, are all reasons to say this is an opportune time.<br /> The questions to whether this is practical , to halt the project raises serious questions;<br />1. Just what tare the legal implications, especially the committments to Nova Scotia.<br />2. What are the unknowns and knowns as to reliability of the transmission from Labrador, as mentioned by Liberty Consulting. Also, the stability issue of the North Spur.<br />3. If the project is halted, what is the way forward to address our energy needs, especially the potential of demand reduction.<br />4. What is the implication for rates to the ratepayers with the options of halting Muskrat now, or spending another 6 or 8 billion for completion.<br />5 What is the implication of very high rates on driving energy consumption very low, because customers DO have alternatives.<br /> Can Russell make a logical argument to the people on the complex subject without having sound advise on the various issues. I would suggest he cannot. He can raise the questions, but not give sound conclusions. Does the Telegram have the resources to pay for such advise. Maybe not. Are there professionals out there who would offer their advise for free to Russell, legal, engineering etc...... maybe so.<br /> Is Russell up to the challenge......he has been a frequent commentator on Muskrat, with concerns early on. As Russell is a respected journalist, I would like to see him take up David Vardy`s suggestion. <br />Winston AdamsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-16476694573884162252016-12-17T18:37:24.027-03:302016-12-17T18:37:24.027-03:30Ontario now buying power from Quebec for 5 years a...Ontario now buying power from Quebec for 5 years at a rate of 5 cents per kwh. Muskrat costing somewhere between 51 and 62 cents delivered to the Avalon. And Quebec is our enemy! <br /> Who should we thank for Muskrat.....what a wonderful plan. Well thought out! Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-83051499152438330752016-12-17T15:48:18.366-03:302016-12-17T15:48:18.366-03:30Maurice, I am not 100% sure you understand my poin...Maurice, I am not 100% sure you understand my point. I know what you mean about the subsidy being acceptable under certain circumstances - for example in the case of a well thought out, thoroughly vetted project in which you believe in. The federal guarantee will reduce the cost of the project. If things turn sour then at least you can point to the extensive due diligence that justified the initial investment. The problem is when the federal guarantee enables an ill-conceived, poorly evaluated project to proceed. I think that is the case with MF. Let me join Robert Holmes in wishing you good luck and Seagrams greetings lol.Anonymoushttps://www.blogger.com/profile/07341048560339265318noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-72223384082815703142016-12-17T15:03:01.855-03:302016-12-17T15:03:01.855-03:30Vardy says to assess the economics of bringing (Ch...Vardy says to assess the economics of bringing (Churchill Falls) power through on the newly constructed transmission lines.<br /> Assess, yes, but they are not yet constructed. What percent is complete, and no solution on the popped wire on the conductor, And how much of Soldiers Pond is Complete. That is a major station, And there is the convertor stations on both ends. And at Soldiers Pond, two large synchronous condesners to go there. These are like the large generators at Holyrood.<br /> Synchronous condensers are needed to support the voltage that is necessary at times. The existing large generators at Holyrood are needed for the same purpose. These are not to be retired.So we need 4 or 5 of these large suckers for voltage support for the DC line.<br /> This is a complex system and considerable expense yet to finish....and questionable reliability according to Liberty, also, and for what purpose if little of this power is needed.<br /> I very much support what Vardy says, but assess the need of that transmission line before assuming we need it and keep spending on that. Whether we need it depends on what we do to reduce energy use. Up to now, do nothing is the plan.<br /> But Russell at the Telly is now on to the wisdom of demand management, as per his Editorial today! So watch out.... plummeting demand will bring them to their senses quicker than our MP.....one would wish......Takes a while for Russell to get his pen in gear. He plans to take the lead in this debate from Uncle Gnarley, just watch.Nothing like competition for what is newsworthy. Expect big editorials from Russ in the new year. We are at a tipping point, and Russ,(the elite) according to Hollett, has been sitting on the fence, silently watching this sinking ship. <br />Winston AdamsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-11481450719155353762016-12-17T13:55:37.284-03:302016-12-17T13:55:37.284-03:30With all this said repeatedly folks ,your own MP i...With all this said repeatedly folks ,your own MP is the only avenue you have left to STOP the funding which is taking you the citizen/ratepayer, further down the path of no return. I am a Newfoundland "colonial boy", retired in BC. I have contacted my NDP member to intercede in the continued Fed Lib financial support of the Muskrat. Good Luck and Seasons Greetings to you all.Robert G Holmeshttps://www.blogger.com/profile/05356463540446993862noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-5298788246717664412016-12-17T12:48:16.463-03:302016-12-17T12:48:16.463-03:30The 'subsidy' issue is, at least somewhat,...The 'subsidy' issue is, at least somewhat, from my perspective a different and less important matter than the very fact that the feds enabled this mess to happen in the first place (and to that extent, the feds continue to share both the blame and the responsibility). MauriceAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-91427393894827314572016-12-17T12:01:29.131-03:302016-12-17T12:01:29.131-03:30Maurice, I agree that the word comfort is not well...Maurice, I agree that the word comfort is not well-chosen. However, I think you know what I mean. The feds lulled the NL citizen into a false sense of security, not just then, but recently as well. How could Harper provide $5B in debt guarantees while basically ignoring the conclusions of the federal-provincial environmental assessment and above the objections of the PUB? More recently, how can they provide an additional $3B in guarantees without any idea what the total cost will be and how long the project will take to be completed?<br /><br />All too often we hear that debt guarantees are free. Debt guarantees include an implicit promise of financial subsidy in the case of difficulty. <br /><br />NL has its share of responsibility but as it stands, the poor NL tax and rate payer is left with the bill. As a Quebecer and a federal taxpayer I don't like the idea of the feds turning guarantees into subsidies. However it is the right thing to do. The feds bear a significant share of responsibility for this mess, why should NL bear the full cost? Anonymoushttps://www.blogger.com/profile/07341048560339265318noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-77250265161146427482016-12-16T17:37:04.638-03:302016-12-16T17:37:04.638-03:30Anonymous, solar might not make much of a differen...Anonymous, solar might not make much of a difference in Newfoundland.<br /><br />It will, however, make a big difference in the U.S., just as shale did. It will make big hydro in the north not feasible as a way of powering the south.<br /><br />The coming global solar power grid will finish the job of abolishing large hydro.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-70980362574959722032016-12-16T16:44:04.093-03:302016-12-16T16:44:04.093-03:30The feds had responsibility for the environmental ...The feds had responsibility for the environmental assessment. The recommendations (with federal complicity) were all but ignored. <br /><br />Clearly, I said that we (not the feds) were/are principally at fault.<br /><br />Let's not misrepresent what is being said.<br /><br />Stir the pot, yes. But there is a right and a wrong way to do so. MauriceAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-7428337844703070182016-12-16T16:43:34.197-03:302016-12-16T16:43:34.197-03:30Enabled is the appropriate termEnabled is the appropriate termAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-41402860803599636492016-12-16T16:25:51.371-03:302016-12-16T16:25:51.371-03:30So the Feds "fooled/helped mislead/hoodwink&q...So the Feds "fooled/helped mislead/hoodwink" Nfld in providing (partially) the requested loan help; therefore they now bear responsability for the whole MF disaster... Not sure the feds knew what they were in for...<br /><br />(I'm just stiring the pot here, I do agree with the term "enabled" tought)Ex-Military Engrhttps://www.blogger.com/profile/15209511368820589727noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-66469996814361961202016-12-16T15:28:36.331-03:302016-12-16T15:28:36.331-03:30This comment has been removed by the author.Ex-Military Engrhttps://www.blogger.com/profile/15209511368820589727noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-29455604928841140662016-12-16T15:09:32.705-03:302016-12-16T15:09:32.705-03:30Any and all who have elected a Liberal MP, (All ri...Any and all who have elected a Liberal MP, (All ridings?), have a direct pipeline to the Federal Government, including one cabinet member; What are the Feds actively negotiating (Que/NL) and what is justification to continue financial backing for the Boondoggle? This is on your watch now.Robert G Holmeshttps://www.blogger.com/profile/05356463540446993862noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-42104957329614570412016-12-16T15:06:03.978-03:302016-12-16T15:06:03.978-03:30We have no revolutionaries in Nlfd. We suffer the ...We have no revolutionaries in Nlfd. We suffer the abuse from the British, from Canada, from the merchants, from the politicians. We have a few brave souls in Labrador who get charged for the purpose of intimidation. The main media is part of the elite who ignores the seriousness of the situation, the subject of this blog.<br />Revolution is what Bernie Sanders called for, but revolution in thought, and by peaceful means.<br />Pity.<br /> The tragedy continues:Muskrat Part 2, each part 7 billion. it amounts to 280,000 dollars for energy to fire up each new house needing 25 kilowatts total load, for Muskrat Part1, another 280,000.00 for Part 2, and there may be a part 3. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-7682682167231076702016-12-16T14:43:57.154-03:302016-12-16T14:43:57.154-03:30No question, we are, ourselves, principally at fau...No question, we are, ourselves, principally at fault (and continue to be). However, that does not excuse the federal government from its complicity and enabling role, without which we likely would not now (re Muskrat) be in the mess we are in.---------- and the tragedy continues. MauriceAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-44355361199118552082016-12-16T14:31:25.967-03:302016-12-16T14:31:25.967-03:30Maurice, we must not discount the considerable pol...Maurice, we must not discount the considerable political pressure Nfld/Williams did put on the Feds.<br /><br />Plus, I'm affraid, any contributions to "sticking it to Quebec" is politically beneficial, including for the Feds. Ex-Military Engrhttps://www.blogger.com/profile/15209511368820589727noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-10408642839295039822016-12-16T14:10:34.582-03:302016-12-16T14:10:34.582-03:30Bernard, rather than "comforted", I woul...Bernard, rather than "comforted", I would use the term "fooled", "helped mislead/hoodwink", etc. --- not what Canada's national government should be part of.----------- Nothing has changed. Maurice AdamsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-25640607084229190292016-12-16T13:57:55.550-03:302016-12-16T13:57:55.550-03:30Maurice,
Interesting comments - I have already e...Maurice, <br /><br />Interesting comments - I have already explained this but federal guarantees had two effects - it comforted the average NL tax and ratepayer that the project was legit<br /><br />It also allowed Premier Williams to avoid scrutiny.<br /><br />The question of whether NL is better to proceed or stop is a surely a legitimate question<br /><br /><br /><br />Anonymoushttps://www.blogger.com/profile/07341048560339265318noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-53815632929684525222016-12-16T13:49:11.016-03:302016-12-16T13:49:11.016-03:30Dear Mr Annoynmous and others,
I am afraid I will...Dear Mr Annoynmous and others,<br /><br />I am afraid I will have to disappoint you. My experience at HQ was in finance and management of the pension fund. CF has always been a passion of mine. I knew a few old salts who provided a wealth of knowledge on the subject and I read quite a bit on the subject. However, my knowledge of the core business is woefully inadequate. I wish it were not so.Anonymoushttps://www.blogger.com/profile/07341048560339265318noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-37403054055190712742016-12-16T13:44:47.686-03:302016-12-16T13:44:47.686-03:30Bruno, I am not saying you are wrong. It would be...Bruno, I am not saying you are wrong. It would be more believable if you had a reliable source. Call me a doubting Thomas. Losing $120M on such a small amount of energy is pretty amazing - especially since the Energy marketing group which is responsible for energy exports lists $40M in profits on the Nalcor website (p30 of the 2014 website). <br /><br /><br />Without référence to a source the reader has to choose between your word and Nalcor's annual report.Anonymoushttps://www.blogger.com/profile/07341048560339265318noreply@blogger.com