NGP Friends: We are amazed at the FERC decision described in the Calgary Herald story below and fail to see a shred of logic justifying it.
Wait a minute! Actually, we do see the logic.
Rather than letting the investors assume responsibility for obtaining a return of and on their investment, the regulators are using lack of current purchase commitments as a mere excuse to kill the project.
The permit rejection is, therefore, completely consistent with the logic this administration's Enviro / Industrial / Governmental Cabal employs to kill TransCanada's Keystone XL project, Shell's arctic exploration, Alaska's state land Pebble gold prospect, development of ANWR and half of the nation's Petroleum Reserve – Alaska, etc.
The consistent attacks on free enterprise — such as the FERC's wrongful denial of a Pacific Northwest's Jordan Cove LNG project — have the logical benefits to socialists of denying jobs and influence to voting private sector citizens and enhancing the job security of voting, federal and state government regulatory bureaucrats.
The icing on the cake, is that such anti fossil fuel regulatory acts are then used to justify more taxpayer supported subsidies to non-economic alternate energy businesses which compose the second rail of the Cabal.
The cherry on top of the icing on the cake is that the alternate energy beneficiaries of taxpayer provided subsidies pay their patrons back with contributions originating from taxpayer supplied subsidies.
This political "circle of life" is parasitic, depending completely on funding redistributed from wealth producers to subsidy consumers and politicians. Sadly, it is an unsustainable model, for little by little the private host dies as the parasites gorge. Left unchecked, we are witnessing the destruction of capitalism as envisaged by the the global warming strategists. -dh
The Enviro/Industrial/Governmental Cabal Strikes Again!
Calgary Herald. An Oregon LNG export terminal and feeder pipeline proposed by a Calgary company has been rejected by the U.S. energy regulator because it failed to line up customers to demonstrate need.
In a decision released Friday afternoon, the Federal Energy Regulatory Commission (FERC) denied both Veresen Inc.’s plan to build a $5.3-billion natural gas export terminal at Jordan Cove, Ore., and its Pacific Connector joint proposal with Williams Partners LP to construct a pipeline that would supply it.
The rejection throws into question the future of a project that has waited almost three years for regulatory approval.
Veresen president and CEO Don Althoff, in a news release late Friday, said it will request a rehearing of the decision while those negotiations continue.
“Clearly, we are extremely surprised and disappointed by the FERC decision,” Althoff said.