..bc hydro is/was one of bc's jewels. until the liberals began to plunder it. however difficult it would be, i believe that it can return to what it once was. but not with site c...
BC Hydro’s real debt has grown 1337% under Liberals…Shouldn’t someone call the cops?
Liberals raise Hydro’s obligations by $74 Billion
The hard fact is that under the Liberals, BC Hydro’s real debt – including all its obligations – in constant dollars has increased by 1,337%, from $6 billion in 2005 to $80.2 billion today. This total comes from Hydro’s most recent annual report (2016) and is made up by the following three categories:
- Regulatory (Deferral) Accounts: $5.9 Billion
- Long Term Debt: $18 Billion
- Long Term Private Power (IPP) Contracts: $56.3 Billion
It must be noted that since the Liberal reign began in 2001, Hydro hasn’t been hit by a depression, a burst dam, a substantial labour dispute, a diminution of its customer base, nor any other calamity that could explain this huge increase in debt. In fact, according to Premier Clark and the brains of the outfit, Deputy Dreamer, Rich Coleman, thanks to Liberal policies of perfection, we had absolutely Sooper-Dooper times. Just how their largest trust from the people, BC Hydro, went $74 billion in the goo and de facto bankruptcy on their watch simply isn’t dealt with, on the the theory that if no one heard the tree fall in the forest, it never happened.
During this period, Hydro has been borrowing large sums to pay yearly dividends to the Minister of Finance for his annual cooking of the books to make it appear that BC has a balanced budget, a noteworthy piece of fiction in a government noted for fiscal legerdemain.
In fact, this has been a government that doesn’t just employ puffery or exaggeration, it lies through its teeth, as if lying was its default position. I raise this because in a moment I’m going to talk about a criminal investigation being required and in such matters, believability is a critical factor and I tell you plainly that neither Clark nor Coleman can demand to be accepted as truthful people on their public record.
Unforeseen catastrophes aside, there are only three possible answers as to how Hydro could lose all this money: grossly negligent management, money being wrongly spent, or money exerting undue influence on decision makers....