Greengate Power is building the largest solar project in Canada and one of the largest in the world in Alberta, Canada. This week on CKUA Radio’s Green Energy Futures we talk to CEO Dan Balaban who started Greengate less than ten years ago in Calgary, Alberta. Here is a direct video link.
We have a lot of work, clean up and productive investment to do. Many countries, cities and states are seeing the huge upside and getting on with it. Canada needs to do likewise. See some relevant points in Stop blame game; Alberta’s plight is our own doing:
Despite 15 years of prices from $50/barrel to $100/barrel (inflation-adjusted) there is little to show in the public purse to buffer our recession. Alberta’s Heritage Trust Fund is sitting under $20 billion, unlike Norway, which started its fund 15 years after Alberta and now has $1 trillion as insurance against the future. That is leadership in the public interest.
Royalties have declined from roughly 30 per cent in Lougheed’s time to close to three per cent in the last few years; and yet the Big Five (Suncor, CNRL, Cenovus, Imperial and Husky) continue to post billions in profits. Albertans aren’t told that most companies operating in Alberta are foreign-owned, taking those profits elsewhere!
Anyone close to industry knows the Western Sedimentary Basin is virtually empty and conventional companies have been losing money since 2009, transferring low-producing wells to junior companies, with growing numbers taking what they can and walking away from clean-up obligations; now totalling $260 billion.
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