Our Jordan Bateman is back with the latest updates on LNG Canada, TMX’s economic impact, and the B.C. political landscape.
🚢 LNG Canada Update: We continue to inch toward the startup of LNG Canada in Kitimat. Petronas, the Malaysian state energy firm that owns a 25% stake in the project, has announced it has purchased three new LNG vessels, doubling its shipping capacity from Kitimat to Asia.
🛢️ TMX Outperforming B.C.: Interesting data point on EnergyNow.ca this morning, pointing out that TMX will add 0.25 percentage points to Canada’s economic growth. That’s slightly higher than the entire province of B.C.’s contribution to national growth – pegged at 0.23 percentage points. This is another sign of how the Eby Government’s pivot away from natural resource development is slowing B.C.’s economy. As the piece says, “A key concern lies in the diminishing confidence among investors in B.C.’s resource industries. The ever-changing policies of the provincial government, especially the uncertain regulations, have made it difficult for investors to make decisions in this province.”
🗳️ B.C. Conservatives Support Keeps Growing: A Liaison Strategies poll released over the weekend has the BC NDP and BC Conservatives within the margin of error in support. The NDP lead at 40%, the BC Conservatives 2 points back at 38%. The Greens are at 10% and BC United at 9% — the second straight poll that has BCU in fourth place. Fundraising has also pivoted in the so-call Free Enterprise Primary. In Q2, for the first time ever, the BC Conservatives outraised BC United, $1.1 million to $627,000. For 2024, the BC Conservatives are now ahead of BCU in donations by about $25,000. Both still trail the governing NDP, which brought in $2.2 million in Q2. Longtime political reporter and observer Harvey Oberfeld thinks he knows why the B.C. NDP and Conservatives are so close: “The NDP may no longer be so popular in urban strongholds that have traditionally formed its power base. Voters in Vancouver and Victoria are really feeling the squeeze of outrageous housing rents/mortgage costs, ever-rising property taxes, higher and higher commercial taxes/fees, carbon taxes, Hydro charges, transit costs, grocery prices, a troubled health system (doctors, hospitals, surgeries, ambulances) that sometimes seems on life-support itself, shortfalls in schools/education funding, fear of rising crime, with drug users wreaking havoc in many communities, a failing ‘injustice’ system… and an NDP government that has been ineffective in solving these problems.” Harvey thinks Eby should have called the election sooner…
