EDITOR,
I settled in Squamish with my family in mid-2012. The decision was obvious: why commute to our playground from the city, when we could immerse our family in it? I haven’t regretted our decision yet. However, the Woodfibre LNG proposal is extremely concerning.
I’m a PhD chemist and entrepreneur. The proposed Woodfibre LNG plant makes no sense, considering the science of global climate change, local environmental effects, or business economics.
LNG is a liquid form of natural gas, a common term for methane. Methane is a fossil fuel and, like all fossil fuels, generates carbon dioxide when burned. The contribution of carbon dioxide to climate change is unequivocal. Proponents tout LNG and methane as “clean”: yes, burning methane releases half the carbon dioxide of other fossil fuels. However, this saving is eliminated by methane emissions from our leaky infrastructure: as a powerful greenhouse gas itself, as little as 2-3 per cent methane leakage eliminates any carbon dioxide savings.
Economically, there is no guarantee that the plant will draw on the local talent pool. Even if it does, estimates top out at about 100 long-term jobs. Furthermore, the shaky financial case for an LNG export business is built on an unrealistically high price of natural gas in Asia ($14-18/million Btu). The cost of liquefying is $10/million Btu, and shipping adds further to that, leaving little room for profit. So what? Well, tax and royalty revenues are paid based on net profit: if sales revenue falls, net profit shrinks and so do tax and royalty revenues. Prices fall with increased supply and reduced demand, and both appear set to fluctuate: Japan recently suggested that it would bring its nuclear power plants back online, and South Korea may follow. Australia is set to be a key regional LNG supplier, with 15 times Canada’s capacity projected for 2017.
Our community is at a tipping point: supporting a LNG plant in the name of indeterminate jobs and tax revenue will have irreversible local and global impacts for generations to come. I challenge the District of Squamish: take the pulse of the community on this question with a plebiscite. Furthermore, strike a task force to build on the work of the branding committee with a mandate to identify, attract, and nurture sustainable, job-producing industries that align with and support the future vision and branding of our community. How do we want to grow, as a community?
Sean Lumb
Squamish
