From last year. A lot has changed since then. Nova Scotia is no longer a producer of natural gas. Why? Global Politics. There’s decades of natural gas (and oil) off the east coast of Canada but nobody wants to invest in it. Why? Global Politics. I’ve talked to 3 guys who worked in the off shore drilling industry as far back as the 1980’s who had to sign non disclosure agreements with their employers. Each of them told me of their positive finds and 2 told me of seeing a map of the “holes” drilled that looked like a well used dart board. When I worked in the oil/gas industry in northern Alberta a few years ago, I met an older gentleman (who was getting ready to retire) who worked as an oil field consultant all across Canada. He told me that Nova Scotia including the off shore was full of coal, natural gas and a rather large amount of oil. I’m convinced its there, no doubt about it. A “new discovery” (riiiight) has just been announced in the north sea of Scotland. Convenient timing wouldn’t you say?
My how the times have changed in just a few months. I wonder if there’s going to be a renewed interest in the waters south of Nova Scotia again. The neighboring province of Newfoundland has a similar story with their offshore oil. Dead in the water, no pun intended, and all of sudden a new announcement of drilling off of their coast. Looks like they will have to restart their oil refinery, assuming they’re allowed. Canada has a notorious habit of exporting its natural resources then importing the finished products. The big question here is, can politicians get re-elected by catering to the climate change cult or by catering to all the well paying job provided by the oil and gas industries. This is one time the politicians can’t have it both ways…and they all want to get re-elected. Mail in voting may work in the next federal election for party leaders (if its allowed) but not for all candidates and they know it.
Geopolitics and energy, never a dull moment.
“The key phrase above is “the ability of Pieridae to obtain financing on acceptable terms,” as June 30 was the deadline the German government gave Pieridae for securing additional financing in order to confirm a US$4.5 billion loan guarantee from the Germans.”
"What about the “strategic alternatives that could make an LNG Project more compatible with the current environment”? The technical term for this comment is “silliness.”
With no German buyer, no financing from either the German or Canadian governments, and a world that is quickly turning away from natural gas, Pieridae has at best an option on a deep-water port at Goldboro and a possible connection to a natural gas pipeline. Sorensen is an inventive fellow, so he’ll no doubt come up with yet another absurd plan for the site, but it will have to be even more convoluted than the now-dead proposal."
