Is BC headed for an unprecedented economic boom?

26 posts / 0 new
Last post
NorthReport
Is BC headed for an unprecedented economic boom?

''

NorthReport

It may just be about to happen as the following are some of the projects currently on the drawing boards.

LNG Plants.

Pipelines for both gas and oil.

John Hart Dam

Massey Bridge

Site C

Mining of many different products

NorthReport

So if some parents had half a brain, and some gudiance counsellors had half a clue what they were doing, they would be encouraging a lot, perhaps most of the young people of BC, and perhaps all of Canada, to get a trade, and earn a fabulous living for themselves and their respective families in BC.

mmphosis

No.

Dana Larsen

If Sensible BC succeeds, and we move to legalization of marijuana, BC will have a massive economic boom.

Marijuana is BC's largest industry, or at least one of the top three. Legalization, regulation and taxation will immediately bring substantial economic benefits to everyone in BC.

It's time for a sensible marijuana law. Join the campaign today at http://sensiblebc.ca

jas

No, it's just same old, same old. Resource ravage and raw exports; boom and bust, boom and bust. That's the BC way. Maybe this time around it'll be a little more frantic. There seems to be a panic on to get everything out of the ground before the world ends.

But at least we know NorthReport must be doing ok. Somebody must be paying him for this laughably blatant boosterism.

If not, I guess he can always go get a job on a pipeline. Let us know how it goes.

kropotkin1951 kropotkin1951's picture

Only if the government introduces something like this program. 

 

Cool

 

http://en.wikipedia.org/wiki/British_Columbia_Resources_Investment_Corpo...

NDPP

unprecedented KA-BOOM! more likely...

wage zombie

Real estate bubble is popping, so doubtful.

kropotkin1951 kropotkin1951's picture

In the main markets it is more of a slow leak than a pop.

Quote:

In Metro Vancouver, the Real Estate Board of Greater Vancouver saw 2,514 home sales cleared through the Multiple Listing Service during the month, which was a 52-per-cent increase from 2012’s low point and just off the region’s 10-year average, the Real Estate Board of Greater Vancouver reported Wednesday.

Prices also showed stability with the benchmark price, the average for typical homes sold across all property types, hit $601,500 in August, which was 1.6 per cent below the same month a year ago, but up 2.3 per cent from the beginning of the year.

“The market today is much stronger than we saw last year and is consistent with our long-term averages for this time of year,” board president Sandra Wyant said in a news release.

The overall inventory of homes hit 16,027 in August, down 8.8 per cent from the level in August 2012 even though there was an uptick of new listings during the month. August’s sales-to-active-listings ratio of 15.7 per cent

http://www.vancouversun.com/business/real-estate/Lower+Mainland+real+est...

NorthReport

Has anyone ever heard a real estate spokesperson says it is NOT a good time to buy a home?  Laughing

Canada's economy has always been resource-based, and will continue to be, so get used to it.

There is going to be huge increase increase in tanker traffic off Canada's pristine West Coast which is obviously of concern but....................

Too bad that so many of the jobs being created however, will be filled by foreign workers with no hope whatsoever of becoming Canadian citizens, like the workers at HD Mining's coal mine in Tumber Ridge, BC.

 

 

 

 

kropotkin1951 kropotkin1951's picture

Lets go back to the good old days of log it, burn it and pave it.

paolo

Nicole Foss to visit Vancouver October 18th for lecture with Lawrence Boomert

Well-known international commentator and author Nicole Foss (‘Stoneleigh’) will visit Vancouver again on Friday, October 18, 2013. She will be lecturing with Lawrence Boomert at Langara College between 7-9pm (full details here). The lecture will explore the topic: “Revitalized Communities as the Pathway to Facing Approaching Limits and Building a New Society.”

…We are approaching many limits to growth over the next several decades, and are consequently facing many challenges in our immediate future. Finance, energy, environment, resources and climate will all impact on the single-minded, one-dimensional trajectory human society has been taking in our era of growth imperative. Our current path is unsustainable. It cannot and will not continue, so we must adapt our societies in order to build a new future.

The first challenge is being presented by the on-going global financial crisis, which is far closer to its beginning than it end. Recent events in Europe, particularly in Cyprus, represent a major wake up call that financial crisis is about to resume in earnest…

In her previous visit in February of 2012, Nicole Foss said “Vancouver is approximately the largest housing bubble in the whole world.” She also explained how all bubbles eventually burst. A few snippets of her last lecture are in the video.

NorthReport

And yet the real estate market in BC may not be heading for an economic boom - go figure!

Perhaps personal debt is out of control in Lotusland.

 

Vancouver's foreclosure rate running at 6 per day in October 2013

http://whispersfromtheedgeoftherainforest.blogspot.ca/2013/10/vancouvers...

Desperation Meter by City – September 20, 2013

http://vancouverpricedrop.wordpress.com/2013/09/20/desperation-meter-by-...

 

 

KenS

I'm sorry folks, but 6 foreclosures a still just a trickle.

Call me when there are more than be counted as they happen. That is what happened in countless cities in the US of 100,000... let alone multi million cities like Metro Van.

wage zombie

Just a trickle but it's still just the start.  The real estate industry (building, selling, renovating, mortgage brokers, etc.) is about 25-30% of the BC economy.  That's bad news in an inflated market with interest rates rising.

Ken Burch Ken Burch's picture

Was there a continuous or at least predominant boom in B.C. during the Socred Ascendancy(1952-1991)?

KenS

The Bait and Switch Begins on Riches from Fracking and LNG

Kitimat LNG plans hinge on B.C. taxes and affordable Asian contracts, Chevron says

In case the message isnt clear enough, Chevron is saying "tax the resource, and we go elsewhere."

BC is going to get a HUGE bonanza. Blah, blah, etc.

Which turns into the usual little trickle.

Just watch, the companies will get a regime where virtually all royalties and other resoource rents will be forgiven if they are spent on "infrastructure development". In other words, spent on what the companies have to do anyway, and the fictitious 'royalties' just become more profits.

And after that, will Centrist and others still say it will be suicide for the BC NDP to criticize this shell game?

Centrist

Ken, LNG in BC is not the proposed Goldboro LNG facility in Nova Scotia, which is just a promoter's dream with no LNG experience and no deep pockets.

And be careful of reading too much into a newspaper article. Hundreds of articles on the topic are released daily. As for BC's taxation regime... apparently it will be released in November. From that regime, one will be able to calculate the gov't revenue stream per million ton/annum export capacity. Figures released to date show an additional $4 - $9 billion/annum to BC gov't coffers based upon 5 LNG plants in operation. The natural gas taxation regime in Australia for LNG is VERY high (much higher than BC) and all the majors including Chevron operate LNG there.

As for the proposed BC facilities, these are most likely to materialize:

1. Shell

2. Petronas

3. Chevron

4. ExxonMobil

5. BG Group and/or CNOOC/Nexen/Inpex

BTW, Chevron purchased a 50% interest in the proposed Apache/Encana/EOG LNG facility in Kitimat (along with upstream natural gas assets) earlier this year leaving the other 50% remaining with Apache. Chevron also only took full operational control of Kitimat LNg this past July. And since then Chevron has been adding ~100 people a month to its Calgary/Vancouver/Kitimat LNG offices/operations.

The only real hurdle for Chevron is long-term LNG off-take agreements with Asian buyers and Chevron's CEO has previously stated that an equity interest in Kitimat LNG will allow a price equivalent to even lower than Henry-Hub pricing (plus) in the proposed U.S. Gulf Coast LNG projects.

And noooo Ken, I firmly believe LNG in BC is not a shell game. 

mmphosis

http://wildernesscommittee.org/publication/bc_gas_boom_or_bust wrote:
British Columbians were originally led to believe that the energy intensive process of converting gas to LNG would be powered by low carbon public energy sources such as hydropower. However, this myth was extinguished by BC Hydro in June 2012 when it confirmed that ratepayers like you and I would not be subsidizing the gas industry’s hunger for cheap energy. 16

Without subsidized rates, the industry would be forced to pay over $100 per megawatt hour – making hydro energy an unattractive option. Instead, LNG producers will likely burn their own gas product to stay in operation, which is how it works everywhere else in the world. In response to this revelation, industry proponents began touting fracked gas as “clean” energy, with the BC government going so far as to change its legal definition of “clean energy” to include certain types of natural gas-powered plants. 17

How much energy would it take to run all of the LNG plants proposed by government and industry? In 2010, BC Hydro said that it expected an eight- fold increase in the power demanded by the oil and gas industry as a result of fracking and LNG development. 18

The costs of climate change, if left unchecked, far outweigh the benefits of proceeding with these gas plans. Studies show that the cost of climate change in Canada will reach $5 billion in 2020, and between $21 and $43 billion in 2050. 19 This is far from the economic prosperity that British Columbians have been promised.

Photo: Peace River (Graham Osborne).

Given its contribution to climate change, and the comparatively low contribution to our economic and social well-being, we are all set to lose out if we bet the farm on the gas industry. As citizens, we have a responsibility to ourselves, our country and our planet – if BC forges ahead with fracking and LNG, we’ll be breaking our promises to reduce greenhouse gas emissions and abandoning efforts to address the most important issue of our time.

We cannot go on basing our economy or the funding of public programs on the steady depletion of non-renewable polluting fuels such as fracked gas.

2013_fracking_paper-web.pdf

1. Lee, Marc. “BC’s Legislated Greenhouse Gas Targets vs Natural Gas Development”. CCPA, 2012. http://bit.ly/RfVGqf

4. Parfitt, Ben. “Fracking Up Our Water, Hydro Power and Climate”. CCPA, 2011. http://bit.ly/sJs37r

14. See citation 1 above.

16. Ibid.

17. Bailey, Ian and W. Stueck. “BC Liberals declare natural gas a clean energy source”. Globe and Mail, June 21, 2012. http://bit.ly/LaSO9K

18. See citation 4 above.

19. “Paying the Price: The Economic Impacts of Climate Change for Canada”. National Roundtable on the Environment and the Economy, 2011. http://bit.ly/17POgXm

KenS

Centrist wrote:

Ken, LNG in BC is not the proposed Goldboro LNG facility in Nova Scotia, which is just a promoter's dream with no LNG experience and no deep pockets.

And be careful of reading too much into a newspaper article. Hundreds of articles on the topic are released daily.

Watch it, or I'll return the favour of acting as if you have a very thin background.

And you are ignoring what that "one article" is about: Chevron warning about royalties and other resource rents [as opposed to taxes on economic activity] being too high.

Centrist wrote:

As for BC's taxation regime... apparently it will be released in November. From that regime, one will be able to calculate the gov't revenue stream per million ton/annum export capacity. Figures released to date show an additional $4 - $9 billion/annum to BC gov't coffers based upon 5 LNG plants in operation.

I'm sure the published royalty rates will be high. As I said, we'll also have to wait for the "fine print".... like the royalties only being nominally charged for an indefinite "start-up" period, the companies allowed to "reinvest" it rather than pay the royalties.

Centrist wrote:
 

The natural gas taxation regime in Australia for LNG is VERY high (much higher than BC) and all the majors including Chevron operate LNG there.

That does not mean BC will be in the same league. Conditions are different. And the market is changing changing quickly for the 10 years plus window that matters. Timing is everything, Australia had an extreme sellers market that BC does not have and is not going to get.

Centrist wrote:

Chevron also only took full operational control of Kitimat LNg this past July. And since then Chevron has been adding ~100 people a month to its Calgary/Vancouver/Kitimat LNG offices/operations.

The only real hurdle for Chevron is long-term LNG off-take agreements with Asian buyers and Chevron's CEO has previously stated that an equity interest in Kitimat LNG will allow a price equivalent to even lower than Henry-Hub pricing (plus) in the proposed U.S. Gulf Coast LNG projects.

And noooo Ken, I firmly believe LNG in BC is not a shell game. 

You start and end as if I am talking about whether this will get off the ground. I dont doubt it will.

The bait and switch hasnt happened yet. And the shell game referrs to whether that cornucopia of royalties ever appears.

The potential bait and swictch, is that the promise is more jobs, profits and taxes that comes with any economic activity, AND a dazzling royalty bonanza. The swicth part will be when the companies say they cannot proceed with those royalty rates, so they become nominal.

That warning from Chevron is not the first, its just blunter than want I have heard when speaking to the general public.

NorthReport

Mackenzie Valley pipeline facing possible revival

Revival of $500M fund signals renewed interest in project - and possible new route

 

http://www.cbc.ca/news/politics/mackenzie-valley-pipeline-facing-possibl...

jerrym

You're forgetting the other half of the story. On the front page of the Vancouver Sun today was the first article below. This is only a small part of the growing problem as will be seen in second posted article based on the report by the Organization for Economic Co-operation in the journal Nature Climate Change. The report notes that annual global losses from flooding due to gobal warming could reach $1 trillion by 2100.

There are many other shutdowns to come. Cutting has been sped up to unsustainable long-term levels in order to harvest pine-beetle ravaged wood before it becomes economically useless. If these LNG plants go into operation they will only increase carbon dioxide levels, contributing to further global warming. Other industries, such as fishing and agriculture, are already being affected economically and many more will be negatively impacted as temperatures continue to rise.

Even if there is a boom, it will be followed by a bust as we hold onto to a dinosaur industry until the bitter end while many other economies continue to shift to solar, wind, tidal and other forms of green energy.

The second article notes that in a study of 136 of the world's largest cities, Vancouver is one of the cities most at risk from rising sea levels due to global warming. Even our right-wing, provincial government's business friendly Ministry of Forests admits that it will need to spend $9.5 billion buiding dikes to protect the city by 2100. However, we can relax because I am sure the business sector will see this spending as just another profit and job opportunity.

Quote:
 

Forestry giants Canfor and West Fraser announced Thursday they will close two Interior sawmills next year because the pine beetle epidemic has gutted their timber supply.

The closures, which also involve a swap of timber harvesting rights between the two companies, will result in 434 job losses in the communities of Quesnel and Houston. ...

Forestry giants Canfor and West Fraser announced Thursday they will close two Interior sawmills next year because the pine beetle epidemic has gutted their timber supply.

The closures, which also involve a swap of timber harvesting rights between the two companies, will result in 434 job losses in the communities of Quesnel and Houston. ...

According to the B.C. Ministry of Forests, about 710 million cubic metres of timber have been killed since the epidemic began in the late 1990s, equivalent to the amount of timber that’s normally logged in a 10-year period in B.C.

http://www.vancouversun.com/Interior+sawmills+closed+beetle+epidemic+ero...

 

Quote:
 

A new climate change report lists the city among the world’s most at risk for losses from rising sea levels and flooding, ranking it 11th after cities such as New York, New Orleans and Mumbai. ...

“We’re at the point where this can’t be ignored,” B.C. geoscientist John Clague told the Sunday Province. “The only good news is that there is time.” The report by the Organization for Economic Co-operation was published Tuesday in the journal Nature Climate Change.

Scientists examined 136 of the largest coastal cities in the world and concluded that, without adaptation, total annual losses from flooding could top $1 trillion by 2100.

While the report listed Vancouver among the 20 most at-risk cities in the world based on its amount of “exposed assets,” it did not make the list when defence measures were taken into account. On that list, cities in developing countries took the top spots.

But that doesn’t mean Vancouver and surrounding cities, where many of those exposed assets are located, can rest easy, said Clague, a professor at Simon Fraser University.

Local research suggests that as glaciers melt and the oceans warm, B.C. coastal waters could rise one metre over the next century.

That’s enough to overtop dikes, as extreme weather — high tides, strong winds and torrential rainfall in winter, or hot weather that melts mountain snow rapidly in spring — becomes more common due to climate change.

In December, a report released by the provincial Ministry of Forests estimated dike improvements over the next 90 to 100 years could cost $9.5 billion.

If municipalities will struggle to find money to upgrade flood protection, Stan Van Keulen doesn’t have a hope.

The longtime Surrey dairy farmer and president of the Mud Bay diking district has a small annual budget to maintain the dikes along the Serpentine and Nicomekl rivers in a 1,110-acre area crossed by Highway 99 and the Burlington Northern Railway. The tracks serve as the sea dike. ...

For example, in West Vancouver, dike construction was recommended to protect older homes near Ambleside. The report said that in Kitsilano, a small dike would be the best option to protect lower areas, while in Crescent Beach the existing dike would need to be raised by about three metres. The report indicates dike widening may cost the same amount as buying out Mud Bay landowners, but it recommends “managed retreat” instead. ...

In Metro Vancouver and the Fraser Valley in 2020, there will be an average of 14 more frost-free days a year, according to the BC Climate Change Adaptation Assessment. By 2050, there will be 25.

Subtle changes to the B.C. climate will have a huge impact on the agricultural industry, said the report, which was completed in 2012.

Scientists believe both temperatures and rainfall in B.C. will increase, in addition to sea levels, spring snowmelt from the mountains, and variability.

It’s that last one that causes report author Erica Crawford the most concern.

In farming, predictability is key for knowing when to plant, fertilize and harvest, she said. Extremes, such as heavy rainfall (and flooding) in spring and fall, and high heat (and droughts) in summer, can be incredibly damaging.

Pest management will also become a larger issue, with milder winters creating conditions that allow new insects to thrive.

“The past is no longer going to be a reliable guide,” said Crawford. “This will make farming more complex.”

http://www.theprovince.com/news/Climate+change+rising+water+could+become...

jerrym

Acidification of the ocean due to increased carbon dioxide  combining with water to form carbonic acid is another problem generated by fossil fuel production, including the proposed LNG plants. This is already having harmful effects on shellfish, pteropods, coral and salmon, BC's most important commercial fishery, as noted in the article below.

Quote:
 Ocean acidification due to excessive release of carbon dioxide into the atmosphere is threatening to produce large-scale changes to the marine ecosystem affecting all levels of the food chain, a University of B.C. marine biologist warned Friday.

Chris Harley, associate professor in the department of zoology, warned that ocean acidification also carries serious financial implications by making it more difficult for species such as oysters, clams, and sea urchins to build shells and skeletons from calcium carbonate. Acidic water is expected to result in thinner, slower-growing shells, and reduced abundance. Larvae can be especially vulnerable to acidity.

“The aquaculture industry is deeply concerned,” Harley said. “They are trying to find out, basically, how they can avoid going out of business.”

While there is potential for, say, commercial oyster growers to reduce acidity for larvae in land-based facilities, the greater marine environment doesn’t have that luxury. “For wild populations, you can’t just take part of their lifecycle and babysit it,” he said.

A total of 10,000 tonnes of oysters, clams, scallops and mussels worth $21.7 million were harvested in B.C. in 2010. The sea urchin fishery was worth another $9 million, based on a harvest of 2,300 tonnes.

Lab studies at the University of B.C. also show that acidic water can impair the ability of salmon to grow and smell properly, which has implications for their ability to find native spawning streams. Research in Australia’s coral reefs has found that acidity can erode a fish’s ability to sniff out their best habitat and to avoid predators.

Development of small creatures such as pteropods — free-swimming snails that are food for salmon — will also be stunted by acidity.

Harley was speaking in an interview at the conclusion of a week-long meeting on ocean acidification involving some 20 scientists and research students from Canada, the U.S., Scandinavia, Australia, Italy, Great Britain, and Hong Kong. ...

“We know the impacts are going to be really widespread. The last big unknown is whether species will be able to adapt.”

Coral reefs in tropical waters also stand to be severely impacted, which he described as a pending “biodiversity catastrophe.”

On the other hand, kelp and seaweed, including those found on the B.C. coast, may benefit from increased carbon dioxide through enhanced photosynthesis. They will also benefit from a decline in grazers such as urchins and snails. “If they become less abundant or smaller, they’ll eat less kelp and that’s a win-win for the kelp.”

Purple sea stars also grow faster under acidic conditions. “That good for them, but it’s bad for the mussels, which are their favourite food,” Harley noted.

Average pH levels in the oceans have dropped form 8.2 to 8.1 and are “headed to 7.8 or below by the end of this century,” he said.

While part of the equation involves the upwelling of naturally acidic waters from the deep ocean, researchers believe that the major driver is carbon dioxide released from burning fossil fuels.

While the issue is global in scale, there are steps that can be taken locally to lessen the impact such as by reducing fertilizer runoff from farms and protecting biodiversity through measures such as marine protected areas.

“Every little bit helps. The more we can transition from fossil fuels, the better off we’ll be.”

http://www.vancouversun.com/technology/Acidification+oceans+threatens+ch...

jerrym

BC's Ministry of Environment, controlled by the fossil fuel promoting Liberal government, describes how extensive the impact of global warming has already been in the province and outlines how future economic and social problems are highly likely to grow with further carbon dioxide increases. These include losses due to flooding, storm surgers, forest fires, droughts, and heat waves, that can destroy forests, ecosystems, homes, and even bring about death.

The second article provides more evidence linking forest fires to carbon dioxide emissions, such as those that LNG plants would further increase. 

Quote:
 British Columbia’s coastal communities already face flood risks related to precipitation and river flows, and climate change will add new risks from sea-level rise and storm surges. An estimated 3,000 to 12,000 B.C. homes near the coast could be at risk of flooding by mid-century. A 2011 report from the National Round Table on the Environment and the Economy estimated that, based on existing coastal flood protection measures, climate change could lead to estimated damages of more than $2,000 per British Columbian per year by the 2050s.

Forest fires affect buildings and infrastructure. The fires of 2003 – the worst fire season on record – destroyed more than 334 homes and many businesses. The total cost of these fires is estimated at $700 million. The climatic conditions that prevailed in 2003 contributed to the size of the fires, as did the build-up of forest fuel. ...

Extreme weather events -- heat waves, heavy precipitation events, droughts – have health and safety implications. Heat waves are associated with heat stroke and an increase in respiratory illness. In the summer of 2009, during an eight-day heat wave, temperatures at Vancouver International Airport measured as high as 34.4 degrees centigrade. During this period, the Fraser and Vancouver Coastal Health Authorities registered 455 deaths (from all causes and ages), which is significantly higher than the average of 321 deaths during the equivalent calendar period in each year from 2004 to 2008. The 2003 southern B.C. fire forced the evacuation of more than 45,000 people, and led to the loss of three lives. During the 2010 fire season, smoke blanketed the province, and both the City of Vancouver and the Government of Alberta issued air quality warnings due to smoke caused by the fires. In 2010 flooding caused by heavy rainfall destroyed the highway leading into Bella Coola. About 175 people were evacuated from their communities, with residents of Kingcome Inlet evacuated by helicopter as water levels continued to rise. Such experiences, though short in duration, can result in long-term psychological impacts and personal and societal costs.

http://www.env.gov.bc.ca/cas/impacts/

Quote:
 

The number of major forest fires in B.C. will likely increase by 50 per cent or more in the next 40 years according to a recent report on climate change.

Telling the Weather Story, released this week by the Insurance Bureau of Canada, addresses altering weather patterns across the country in the coming decades and urges Canadians to adjust to the realities of climate change.

The study predicts B.C. can expect an increase in wildfires over the average of nearly 2,000 blazes a year between 2000 and 2010. Furthermore, the province will likely see a host of other weather-related issues like warmer temperatures, declining — and, in some regions, disappearing — mountain snowpacks, more intense rainfall during the winter, and drier summers. The number of wildfires sparked by lightning strikes — responsible for nearly 60 per cent of fires — is also expected to rise. ...

Dr. Gordon McBean, a climatologist and professor at the University of Western Ontario, conducted the research with cooperation from the Institute for Catastrophic Loss Reduction, where he also serves as policy chairman.

He explained the study arrived at the predicted figures by linking existing data on blazes caused by lightning to climate conditions. The information was then put through a simulation that projected ahead to 2030 and 2060.

“The scientific community [behind the report] is very confident,” McBean said. “These projections are based on very solid science. Climate change is already happening in Canada.”

Brian Simpson, director of the province’s Wildfire Management Branch, told The Vancouver Sun the report’s predictions are worrisome, but added that current trends already reflect the growing frequency and size of B.C.’s wildfires. In 2010, more than 331,000 hectares of land were affected by fires, the highest number in two decades. “The numbers are up across the board,” he said. “It’s disconcerting. If we get [the kind of fire activity that’s predicted] it’s going to mean more damage and a bigger impact.” ...

The Insurance Bureau of Canada’s full report on climate change can be found at

http://www.ibc.ca/en/.

 

 

http://www.vancouversun.com/news/Climate+change+bring+more+severe+wildfi...

overthere

Yeah, I really doubt the Mackenzie Valley pipeline is going to happen anytime soon, that ship sailed years ago.  There is no market at all for new gas in North America, the continent is awash in the stuff.

And BC is counting on Asia to buy new Canadian natural gas at premium prices.  It won't happen, because the days of new premium ciontracts with high prices are already gone, the sweetest deals are done.

As a country we have likely already missed that boat.  Auistralia and the UAE have some really big, really juicy contracts nailed down and prices in Asia will go down down down as new supplies come on line.  Newer LNG contracts from sources like the US Gulf Coast gas have been for much less money.

A big fairytale planned project was the long planned, oft delayed oil and gas monster line down the Alaska Highway.  Originally it was to incorporate a whack of Alaskan oil and gas, big quantities of gas from northeast BC, and connect to the lines coming down the Mackenzie Valley.  But the Alaskan oil is being shipped down the West Coast by tanker and the gas is going to be taken offshore by a new LNG pkant on the Kenai peninsula.  The Americans have given up on doing business here, they saw what happened with the Mackenzie line and realized it was not worth the hassle so they'll go it alone. Nobody wants the Mackenzie oil and gas, so I just don't see that project happening for a generation or more.