Fracking and Economics

Market Forces, Not Regulatory Uncertainty, Plague Shale Investment

Date: September 13, 2019

Author: NBASGA

Categories: climate change, Fracking and Economics, Fracking News

by Jim Emberger, Telegraph Journal (edited version), 13 Sept 2019

Corridor Resources claims that provincial ‘regulatory uncertainty’ prevents it from finding shale gas investors. Brunswick News‘ editors endorsed this argument, dismissing the idea that simple market forces could explain the lack of investors.

Yet, the Higgs government, and its supporters, have now promoted multiple shale gas and bitumen projects, all of which have failed because they misread market forces. This isn’t an enviable record for those who portray themselves as business-savvy. Perhaps, they are blinded to actual market signals by ideology, or absolute faith in an old maxim that fossil fuels are always a good investment.

Don’t play games with equalization

Date: March 27, 2019

Author: NBASGA

Categories: climate change, Fracking and Economics

written by Rod Hill, Telegraph-Journal Wed Mar 27 2019

Premier Blaine Higgs’s government is four months old and already there is, in my opinion, good news: the idea of an Energy East pipeline is surely dead. Yet since plans for the pipeline were abandoned by TransCanada in 2017, Energy East has lived a zombie-like existence, failing to die in the minds of many people.

They refuse to recognize the reality that, given long-term projections of oil sands production, such a pipeline was redundant after the approval of the Keystone XL pipeline by President Trump and other pipeline expansions. Yet despite this, Premier Higgs remained steadfast, demanding that Quebec accept Energy East if it wanted to use New Brunswick as a corridor for its hydroelectricity exports to New England.

Fracking In 2018: Another Year Of Pretending To Make Money

Date: January 28, 2019

Author: NBASGA

Categories: climate change, Fracking and Economics

by Jim Emberger (from Huddle Today)

January is a popular time for reviewing the previous year to see where we are now. Since I write about the shale gas industry and global warming, let me share some annual reports from both, along with some commentary.

Fracking in 2018: Another Year of Pretending to Make Money: This has my vote for best title. The author notes that the 60 largest U.S. fracking companies have been accumulating losses at about $80 million per year for a decade. Investors and lenders lost $70 billion in loans due to 330 North American bankruptcies following the price crash of 2014, and last year The Wall Street Journal calculated industry debt around $180 billion.

Realism should guide energy development

Date: September 18, 2018

Author: NBASGA

Categories: Fracking and Economics, Fracking News

ROD HILL COMMENTARY, Telegraph Journal, 18 September 2018

According to a story, still popular in some quarters, exploiting shale gas reserves in New Brunswick will provide jobs and lots of money for the public purse. The popularity of a story with such a seemingly happy ending is easy to understand. But is the story true, or is it wishful thinking?

In a recent article,“It’s time to make NB a ‘have’ province” (Sept. 14), Colleen Mitchell of the Atlantica Centre for Energy claims it’s true. She writes that while Newfoundland and Labrador and Nova Scotia have received billions in royalty revenues from offshore oil and gas, this “is critical revenue that New Brunswick has been shut out of,” apparently preferring “handouts” to exploiting our mining, oil and gas resources.

The recently released Progressive Conservative party platform seems to agree with this view, stating: “Subject to rigorous safety and environmental protections, and with local support, we will allow for regional resource development, including natural gas development.”

Keep fracking ban to slow climate change

Date: July 24, 2018

Author: NBASGA

Categories: climate change, Fracking and Economics, Moratoria

Commentary by Jim Emberger, Telegraph Journal, 24 July 2018

It was gratifying to see a recent article acknowledging that climate change has already changed our weather, and that weather-related problems will become ever more frequent and severe (“Not .. our grandparents’ weather, July 14, A2).

In the piece, a senior climatologist at Environment and Climate Change Canada, David Phillips, laid out in no-nonsense terms that New Brunswickers will be challenged to adapt to our increasingly confused climate.

Warnings and good advice about adapting are a necessary discussion, but the real conversation we need to be having on climate change is about ‘preventing’ the growing threats from a changed climate.

Progressive Conservative leader wrong on fracking

Date: May 4, 2018

Author: NBASGA

Categories: Fracking & Health, Fracking and Economics, Fracking News

Commentary by Jim Emberger, Telegraph Journal, 4 May 2018

The New Brunswick Progressive Conservatives’ plan to lift the moratorium on shale gas paints a disappointing portrait of a party unable to exercise even minimum due diligence on this issue.

The NB Anti-Shale Gas Alliance filed a lawsuit challenging the province’s embrace of shale gas in 2014, and unlike the PC’s, we have tracked every scientific study since then, from a handful to over 1,300 today. All can be found in the, “Compendium of Scientific, Medical, and Media Findings Demonstrating Risks and Harms of Fracking.”

The evidence presented to the Commission on Hydrofracking from even the modest number of studies available in 2014 was strong enough to lead to our moratorium. Accumulating evidence presented to commissions in Nova Scotia, PEI, Newfoundland, New York, Maryland, Scotland, Wales, Ireland, France, and others, likewise led to moratoriums or bans.

Fracking, we hardly knew ye

Date: April 5, 2016

Author: NBASGA

Categories: Fracking and Economics

by Alec Bruce

It was fun while it lasted, but the people have spoken. So have New Brunswick’s all-but-departed, hydraulic-fracturing development and production companies. Now, we can declare it: Dear fracking, rest in peace.

You were the bad boy of the oil and gas industry in these parts.

The Case Against Shale Gas

Date: February 25, 2016

Author: NBASGA

Categories: climate change, Fracking & Health, Fracking and Economics, Moratoria, Most Asked Questions, NBASGA, Research & Scientific Studies

The following letter was sent to New Brunswick Premier Brian Gallant and members of the Liberal Caucus on 22 February 2016.

Dear Premier Gallant:

The Commission on Hydrofracking will soon submit its report and the government will make its decision on the future of shale gas in the province. We have to ask: “After 5 years of examining the pros and cons, what evidence has accumulated to support each side?”

To answer this question we have put together a short summary of the latest news and scientific information on a few of the major issues at the heart of the discussion. We hope you will take the ten minutes necessary to read the attached document.

The executive summary follows.

New Brunswick Anti-Shale Gas Alliance / anti-gaz de schiste du N.-B

Representing New Brunswickers concerned about our future / Représentant les Néo-Brunswickois(es) préoccupés par notre avenir

Fracking and Economics

Market Forces, Not Regulatory Uncertainty, Plague Shale Investment

Don’t play games with equalization

Fracking In 2018: Another Year Of Pretending To Make Money

Realism should guide energy development

Keep fracking ban to slow climate change

Progressive Conservative leader wrong on fracking

Fracking, we hardly knew ye

The Case Against Shale Gas