NB Power is worth $47 billion - Part 1

Shawn Graham claims that opposition is emotional, not factual. Here are the facts about the proposed sale, plain and simple for all to understand. Enough with his political rhetoric. This presentation was given to a rally in the Miramichi on January 18, 2010, put on by the Miramichi District & Labour Council.

Category:

News & Politics

Tags:

• NB Power
• Hydro Quebec
• energy
• hub
• sale
• deal
• MOU
• Shawn Graham
• BronweN
• Jack Kier
• New Brunswick
• electricity
• selling a business

[naomijful]

Since Quebec Hydro just stepped away from the deal because the asset value didn't equal cost (3.2 billion), I'm thinking this student should stay in school for a few more years (or at least pay attention instead of making youtube videos). Big difference between 47 Billion and 3.2 Billion and they still walked away ...

[TheRealBronweN]

@naomijful Actually, Hydro Quebec walked away from the deal one week after I sent the Premier of Quebec a letter, letting him know that legally we the people can, at any time, "nationalize" NB Power (take it back into public control) and that we don't have to pay a penny to do so. So they could buy it, and we could take it back after the next election with no legal repercussions.

It is so funny to see someone talking "like they know everything" when really they have no clue.

[mitchie0111]

NB does need lower power rates to attract manufacturing business here.

A ROYALTIES deal would have put NB in control. Keep NB Power and the assets but allow HQ access to the USA market - we will take 10% off the top. HQ + NBP + tax payers win big all the way around. Surely it is not too late!!!

The gov't certainly has NOT negotiated the best deal for the province. NB Power is grossly mismanaged so I can't say that I agree with the glorification of its over paid CEO in this video.

[TheRealBronweN]

You have a shortsighted view of industry in NB. Any manufacturing business that we attract here now is just going to end up in China within the decade, because their labour cost is lower and their environmental regulations are much less (companies allowed to pollute).

We need to attract industries OTHER than manufacturing, unless we are manufacturing our own resources. Fat chance now that the forests are all monoculture. Look at PEI... they created a great video game industry. We need NEW.

[TheRealBronweN]

However, I do totally agree with your assessment of how to make NBP profitable. That is the same kind of sentiment that I have on the issue.

We need people like you as part of a think tank to come up with our next-gen of strategy for our energy policy.

[MrZooLoo]

@TheRealBronweN "Rates have gone up 27% in the past 7 years because the government keeps taking more and more profits."

-Such a crown company ought to make profits... (HQ Makes 3.3 Billion Each Year..) It costs over $1 Billion yearly for the health.

"NBPs profits WILL go up no matter who owns it. "

-Speculations?

[MrZooLoo]

@oxjr Wind has some potential here in NB. But TIDAL isn't full proof technology and costs TONES of money. Experts have said that in order for the tidal technology to supply just as much power as good ol' Power Plant, the entire bay of Fundy would need to be surrounded with them. There is hardly any future for technology anywhere on this planet, unless it becomes "full Proof" and more efficient.

[JohnnySemor]

Hey this is a good deal for the Irvings, who cares if it is giving wealth away from the citizens of New Brunswick? Not Shawn Graham that is for sure.

[TheRealBronweN]

NBP HAS BEEN PROFITABLE FOR THE PAST 7 YEARS... just not on the "books" because the government keeps taking money out of their piggybank.

Where do you propose that shortfall should come from if we sell NBP? Hmmm? Any big plans?

[TheRealBronweN]

QC is able to provide so many social services because of its TRANSFER PAYMENTS. These are calculated based on the province's debt, specifically on the GDP to debt ratio.

Quebec's debt is 40% of its GDP. NB's is 25%. By borrowing more money to buy NBP, QCs debt will increase, making them eligible for more transfer payments.

NBP making $0 per year means that they will be able to help with 0% of our social services. You have totally PROVEN MY POINT.

Thanks.

[TheRealBronweN]

I was not glorifying the CEO. I agree that NBP is totally mismanaged. Please tell me what statement I made that "glorifies" David Hay.

[TheRealBronweN]

The government's interference put NB Power in debt.

Selling it will not solve the problem. The Auditor General has already said that selling NB Power is not going to pay down the debt. They want to sell the utility for much less than what it is worth, and this will only create MORE debt for us.

I agree, NB Power is not being managed properly. The solution is to fix the mismanagement and government interference, not sell the utility.