DANGEROUS DEBT LEVELS AND CREDIT RATING CONCERNS
BC Hydro loses money every year. They are now close to $28 billion in debt—not counting the $5.9 billion they have in deferral accounts or hidden elsewhere in accounting. This debt masks the hemorrhaging of BC taxpayers’ money while costs are deferred to future generations.
This is worrying to both BC taxpayers and international credit rating agencies, who have warned that BC Hydro and by extension the province of BC are at risk of having their credit rating downgraded unless the debt stops growing. As Moody’s stated, “The anticipated increase in debt continues to pressure the province’s rating.” BC Hydro’s finances, they said, are “among the weakest of Canadian provincial utilities.” …
The Site C dam project represents a violation of rights guaranteed by Treaty 8 and a barrier to Reconciliation. Both the BC and Canadian governments have made strong commitments to Reconciliation between Canada and First Nations, most recently reiterated by Premier...
A stunning new animated map of logging on Vancouver Island was released today by well-known BC environmentalist Vicky Husband. The map displays 150 years of logging in 30 seconds, and provides important perspective to public debate over logging and the escalation of raw log exports from the province.
The BC Government is about to pass a bill – Bill 24 – that will allow industrial development through the vast proportion of that farmland. That development would include fracking, mining, diversion of water for oil and gas, and other invasive industrial activities. We must stop Bill 24 from becoming law.