We should focus on oil
Why not leave Muskrat Falls for now? It’s a renewable resource, it will always be there, unless Kathy Dunderdale “sells the shop.” Now that the costs to finance it are rising and capital support is non-existent, leave it alone for a few years until the world is anxious for a clean energy supply.
I think she should turn her attention to Bull Arm and the potential there to get immense financial returns on our tax-dollar investments — and sooner, rather than later.
With Nalcor owning and operating Bull Arm, a significant investment into a worldsized graving dock to build gravity-based structures, repair very large crude carriers and provide maintenance for our floating production vessels and drilling rigs would be the best bang for a dollar ever spent with revenues flowing in almost immediately. Look at the workforce required and the experience we Newfoundlanders have to offer. It’s a win-win proposal.
We missed the boat on Hibernia, which was a terrible loss of millions of Canada’s and Newfoundland’s dollars, soon to be repeated when Hebron steps up to the plate.
How many people knew of the secret or not so secret arrangement Norway made with our governments regarding sharing information and technology? I worked at the Newfoundland Dockyard in the early ‘90s when we constructed the cement batch barge at a cost over $120 million. It was destroyed after the Hibernia project because of this agreement! Ludicrous! That should never have happened.
Now, Hebron has to build another one at a much greater cost, and what will become of it?
We should revisit Bull Arm and the lessons not learned and how best to maintain the site, post-Hebron, for generations to come. It’s time to look at how Norway has flourished since they decided to capitalize on their oil-based resources.
Doug Edison writes from Holyrood