Guest Post by David Vardy
Introduction
Introduction
The sanctioning of the Muskrat Falls project
in December of 2012 was a huge mistake, one which has spiralled into a major
economic and environmental catastrophe.
The warnings of the joint federal provincial panel were ignored, as were those of the Public Utilities Board. These warnings relate to the lack of a business case for the project, the high risk for a small province, the adverse demographic factors, the lack of export markets and the high unit cost.
The warnings of the joint federal provincial panel were ignored, as were those of the Public Utilities Board. These warnings relate to the lack of a business case for the project, the high risk for a small province, the adverse demographic factors, the lack of export markets and the high unit cost.
A
Gamble that failed
In a Telegram article dated May 25, 2013 the Honourable John Crosbie said that “Muskrat Falls is worth the risk”, quoting T. S. Eliot on the subject of risk: Only those who would risk going too far can possibly find out how far you can go. Since then we have sailed on a sea of risk and reaped the whirlwind.
In a Telegram article dated May 25, 2013 the Honourable John Crosbie said that “Muskrat Falls is worth the risk”, quoting T. S. Eliot on the subject of risk: Only those who would risk going too far can possibly find out how far you can go. Since then we have sailed on a sea of risk and reaped the whirlwind.
