10 Years of misspending, scandalous behaviour and many billions of tax dollars taken out of people’s pockets for back room buddies, failed Green Energy Agendas and too many more examples of out and out theft of hard earned honest citizens money may be coming to a head sooner than later.
Liberal announcements right now on their “future” spending plans sound more like a an insane, out of control kleptomaniac’s pleas for innocence when getting caught at the cash register of a store front by a security guard!
When a Government depends on a “strategy group” and their “menial little buzz word generators” sitting in a darkened office on Bay Street cranking out “verbal diarrhoea” for their political existence then this is about all we get as Ontarians. Pure Bullshit!
The following posts should get your blood boiling and force you to ask the very question headlined above!
To have Andrea Horwath and her gaggle of gerbils to even suggest “supporting” this present “financial disaster” is actually worst that then the acts being committed by the Liberals.
Once a relatively successful Crown corporation slated for privatization, Ontario Power Generation is now a contracting enterprise
The rapidly rising cost of electricity in Ontario is well known to consumers. The damage shows up in electricity bills that by 2018 are expected to have doubled since the province’s Liberal government launched its green energy extravaganza in 2007. Less obvious is another hidden cost in the impact of green energy programs: The decline of Ontario Power Generation (OPG).
Once a relatively successful Crown corporation slated for privatization, OPG is now a contracting enterprise. The company’s hydro, fossil fuel and nuclear generating stations worth billions of dollars to taxpayers are now being eviscerated by policies that are stripping the company of its revenues and income-generating potential. Revenues have plummeted, asset values are sinking. Rather than being ripe for privatization, OPG is now under scrutiny by rating agencies such as Standard & Poor’s warning of cash flow problems and eroding value.
OPG’s 2012 annual report shows revenues took another $230-million hit last year, continuing a decline that has cut the company’s total revenue by 22% or $1.35-billion since 2008. Once a $6-billion-a-year company, OPG is now down to $4.7-billion. Production and sale of electricity has also fallen by 22% or 24.1 terrawatt hours, enough to power 2.6 million average Ontario homes for a year.
Production from OPG’s fossil fuel business is down 19.1 TWh since 2008, and that’s resulted in a significant revenue drop of $775-million. Income from the nuclear segment, before interest and taxes, is higher than it’s been since the market opened in 2002 ($364-million pre-tax over the past year), and OPG’s regulated hydroelectric segment is also at the highest level since 2005 — although only $14-million more in pre-tax profits than 2008.
What seems to have annoyed Ontario Energy Minister Bob Chiarelli is that we did something the government should have done long ago: assess the costs and benefits of Ontario’s radical, go-it-alone green energy scheme. Matthew Sherwood/The Canadian Press
The province could soon top North America in electricity costs
In 2009 the Ontario government passed the Green Energy Act (GEA), with the aim of increasing the province’s use of renewable energy such as wind and solar power, biofuels, and small-scale hydro. The centerpiece of the Act is a schedule of subsidized electricity purchase contracts – called Feed-in-Tariffs – that provide long-term guarantees of above-market rates for power generated by those renewables.
The GEA may have been well-intended but a recent Fraser Institute analysis, called The Environmental and Economic Consequences of Ontario’s Green Energy Act, demonstrates that it is driving up Ontario’s energy costs and poses a threat to economic competitiveness for the manufacturing and mining sectors. What little environmental benefit it is expected to generate could have been achieved at a fraction of the cost. Unless the province changes course, the GEA will saddle Ontarians with needlessly high energy costs for decades to come.
All this pain will do little to improve air quality
As our study demonstrates, the GEA will soon put the province at or near the top of North American electricity costs. Already the GEA has caused major price increases for large energy consumers, and analysts in both the government and the private sector anticipate additional hikes of 40% to 50% over the next few years. We estimate that the manufacturing and mining sectors will be hard hit, with energy cost increases reducing returns to investment by between 13% and 29%.
All this pain will do little to improve air quality. Ontario’s air pollution levels were already at or below clean air standards and were continuing to decline prior to the introduction of the GEA. And in a classic case of the law of unintended consequences, the GEA poses a risk of increasing air pollution levels. Wind power requires natural gas as a backup. If the province continues adding wind and gas power at a time when there is a surplus of generating capacity, it may render one of Ontario’s baseload nuclear plants superfluous. Taking a nuclear plant offline and replacing it with gas would leave us with higher overall emissions.
Terence Corcoran | 13/05/01
Kathleem Wynne’s current trick is to distance herself from the past ten years of mismanagement, policy bungles, grotesque waste, pro-union pandering, tax-gouging, big spending green dirigisme. Canadian Press
Thursday’s Ontario budget should be the last gasp of the McGuinty Liberals in a province that needs a premier who can say more about provincial affairs than “I didn’t have access to those financial parameters.”
The Ontario Liberal budget Thursday could be the last gasp of a decade-long governance disaster. It certainly should be. The current premier, Kathleen Wynne, was first elected as part of Dalton McGuinty’s Liberal sweep of the 2003 election. Ms. Wynne’s current trick is to distance herself from the past ten years of mismanagement, policy bungles, grotesque waste, pro-union pandering, tax-gouging, big spending green dirigisme.
As Ms. Wynne put it during questioning the other day over the rocketing cost of the Liberal government’s cancellation of two electricity- generating plants, “I didn’t have access to those financial parameters.” She wasn’t told. Didn’t ask. The cost of the power plant deals is now up to $600-million, money that served no purpose, vapourized for political reasons.