The reaction,
last week, to Nalcor CEO Ed Martin’s announcement that another $800 million had
been lathered on to the Muskrat Falls project attracted some interesting
reactions from provincial politicians; in another case there was no response at
all.
Newfoundlanders
and Labradorians seemed to take the news with typical equanimity.
There were
no street protests, no calls for Martin’s resignation (though there ought to
have been), no demands for the Government to resign.
Public quiescence was maintained possibly
because Nalcor still has cash flow; Newfoundland Power will send the bills
later.
Still, an
additional $800 million is a staggering sum.
The new total is $8.33 billion when interest during construction on
the new overage is included; that is slightly higher than the $8.19 billion
I had reported in my last missive (having been corrected by a ‘qualified’
economist).
Speaking of
which…we haven’t hear from Dr. Wade Locke. Locke is the MUN Economist, who
proclaimed to a capacity crowd filling the Inco Centre, he approved of the
Project.
But, it was the
warning he left with an audience in Norman’s Cove, a few days later, that some
remember. Locke is reported to have
stated, if the Muskrat Falls Project exceeds $8 billion it will cease to be the
lowest cost option.
