Energy & Infrastructure
Natural resources are, and will continue to be, a crucial component of the economic well-being of British Columbians. To advance BC's prosperity, we must responsibly develop new forms of energy resources and build the necessary infrastructure to connect them with global markets. The Council’s work supports the efforts of businesses and governments to develop resource projects, energy systems and transportation networks in a way that minimizes the environmental impacts and maximizes economic benefits for communities and BC’s job creators.
LNG in a Shifting Global Context
As British Columbians begin to get familiar with the possibility of having a new LNG industry driving our natural gas sector, we would be wise to have a clear understanding of just how tough the competition is within this rapidly developing global sector.
Water - Blue Gold
Water, water everywhere and not a drop to drink – many will recall the famous musings of English poet Samuel Taylor Coleridge, in The Rime of the Ancient Mariner. Mark Twain once remarked, "whisky is for drinking; water is for fighting over.” Both statements are true.
This paper is more of a primer on water and water management than a discussion of policy issues or options, although at the end we touch briefly on the Business Council’s views on water policy in British Columbia, a topic which has been under discussion in connection with the ongoing Water Act reform process.
News Release: Business Council Supports Government Announcement and Process to Sell Ridley Terminals Inc.
The Business Council of British Columbia, representing the province’s leading companies and institutions in every key sector of the provincial economy, today announced it’s support for the federal government’s decision to sell Ridley Terminals Inc.
“The Government of Canada’s announcement to sell Ridley Terminals Inc. represents the fulfillment of a commitment to divest Crown assets that can be more fully and effectively utilized in the private sector. The decision is good news for Canadian industry and should help to grow our economy going forward,” stated Greg D'Avignon, President and CEO of the Business Council of British Columbia. “We applaud the federal government for taking another in a series of recent steps to make Canada more competitive and to lay the foundations for future economic prosperity through global trade and investment.”
Jock Finlayson: The centre of economic gravity is tilting (Vancouver Sun)
The rise of China and other emerging economies is having a profound impact on the international economic and political order established by a handful of Western countries at the close of the Second World War. Collectively, the emerging economies of Asia, the Middle East, Latin America and Africa will soon account for half of world production and consumption. They have also driven most of the growth in the global economy since the mid-2000s. One area where emerging economies are making a notable difference is the pattern of foreign direct investment (FDI). Long viewed solely as destinations for FDI by Western-based multinational companies, some emerging economies have become important sources of investment into the U.S. and other advanced country jurisdictions.
Boomtown or Ghost Town? The Need to Secure BC's LNG Opportunity
By Greg D'Avignon, President and CEO, Business Council of British Columbia
Even in the best of times, it is extremely rare that a province is presented with an opportunity to develop a new industry with the potential for $50 billion in capital investment over the next five years. Over the longer-term there may be as much as 1.2 million person years of employment, a six-fold increase in annual government royalties and a cumulative total upwards of $1 trillion in additional GDP over the next 30 years. Such are the magnitudes of the economic and social benefits that BC could realize by developing a new liquefied natural gas (LNG) export industry, serving the rapidly expanding Asian markets.
Submission: Provincial Government's Expert Panel on Business Taxation
In response to the provincial government's request for input, the Business Council of British Columbia is pleased to share our views with the Expert Panel on tax measures that could be implemented to strengthen BC’s economy and competitive position as the province shifts from the HST back to the dual PST/GST system. The Panel is familiar with the benefits of the HST, and the many reasons why economists and public finance scholars almost universally see value-added taxes like the HST as an important and useful element in the revenue mix for governments.
British Columbia Perspectives on a National Energy Strategy (NES)
Environment and Energy Bulletin v4 n2
There was a time when the words “National Energy Plan” would have caused blood pressure to spike across much of Western Canada, which would then have been followed by colorful descriptions of the federal government. This may no longer be the case - and certainly not if many of the West’s leading think tanks, energy companies and provincial leaders have their way.
Resource Industries Drive Investment Spending Higher in BC
The release of Statistics Canada’s annual Public and Private Investment survey provides information on recent business capital spending and affords a useful glimpse into where and how much BC businesses are planning to invest in the coming year. The latest survey predicts a healthy increase in capital spending in 2012, and confirms that business investment will be a significant economic driver in the province. It also underscores the important role that resource industries and related infrastructure development are playing in the growth of BC’s economy.
How Big (and What Is) the 'Green Economy'?
The Challenge of Counting 'Green Jobs' in BC
Environment and Energy Bulletin v4 n1
“Having announced the imminent arrival of the green economy, we’re scrambling to define exactly what that means…”
The above quote neatly sums up the current conundrum about what many people now refer to as the “green” or “clean” economy: although the idea is much celebrated, it is hard to pin down in a satisfactory way. Politicians, media commentators, and non-governmental organizations routinely laud the potential to create thousands of new “green jobs.” Shortly after taking office, US President Barak Obama proclaimed, “As we recover from this recession, the transition to clean energy has the potential to grow our economy and create millions of jobs - but only if we accelerate that transition.” Closer to home, former Premier Gordon Campbell championed the idea of BC as a North American leader in developing and selling clean (carbon-free) energy. British Columbia’s pioneering economy-wide carbon tax, the first of its kind in North America, was linked to an expectation of robust growth in “green” industries and related gains in employment. At the municipal level, political leaders in the City of Vancouver are convinced that the green sector is destined to drive the region’s economy and foster the development of tens of thousands of new, high-paying jobs.
Submission: Select Standing Committee on Finance and Government Services
The Business Council of British Columbia submits preliminary advice on the 2012 provincial budget to the legislature's Select Standing Committee on Finance and Government Services.
Asian century: How BC can profit
By Jock Finlayson, Executive Vice President and Chief Policy Officer, Business Council of British Columbia
How long before a surging China eclipses a slumping United States as the largest national economy? The question is timely as the world continues to recover from the 2008-09 financial crisis and economic downturn.
The Natural Gas Story
Environment and Energy Bulletin v3 n2
Both globally and in North America, natural gas is poised to play a bigger role in meeting the energy needs of consumers, businesses and communities. Recent discoveries of large unconventional (shale) gas deposits in the United States, Canada and parts of Europe have heightened awareness that natural gas is an abundant, widely distributed and cost-effective energy source. Many analysts also see natural gas as a “foundation” fuel that can help to pave the way to a lower-carbon energy future. And with a number of countries – Japan, Germany, etc. – now looking at reducing their reliance on nuclear power, the global appetite for natural gas seems poised to increase markedly in the coming years.
Transportation Infrastructure for a Globally Conneted BC Economy
Policy Perspectives v18 n2
Infrastructure is the sometimes invisible and seldom discussed backbone of a modern economy. A region’s infrastructure affects the quality of life enjoyed by citizens, the competitive position of businesses, and the potential for long-term gains in productivity and incomes. As a small economy, BC depends heavily on trade with other countries and provinces to generate income, employment and tax revenues. Both the profit margins on exports and the costs of imported goods are linked to the efficiency of the freight transportation system. As a gateway to the Asia Pacific, BC’s transportation sector is more than a facilitator of trade. In connecting Asian countries with other North American jurisdictions, the industry generates its own export earnings, apart from the enabling economic activity more broadly. Transportation as an industry looms larger in BC than in other provinces.
Lessons Learned from the Prosperity Mine Decision:
Enhancing Project Certainty Through a Social Licence Strategy
Environment and Energy Bulletin v3 n1
Since the Federal Cabinet’s decision in November, 2010 to prohibit the proposed Prosperity Mine project from proceeding, questions have arisen about how this outcome came to pass, especially in circumstances where the project was previously approved through the British Columbia environmental assessment process and received strong words of support from the BC Government. One only has to consider the voluminous media coverage of this dilemma to understand the answer and to gain an appreciation of what now appears to be the most critical ingredient for success in any major resource project proposal. The critical ingredient? - “social licence” to develop and operate the project.
Realizing British Columbia's Second Renewable Electricity Revolution
Authored by OnPoint Consulting Inc.
Northern British Columbia: A Vision for Prosperity
Authored by Initiatives Prince George Development Corporation and Northern Development Initiative Trust
Prospects for Mining in British Columbia
Authored by Michael R. J. McPhie, M.Sc., QEP, Managing Director, Natural Resource and Infrastructure Projects, Heenan Blakie