It should come as no surprise that Petronas expects B.C. to cave in to its demands to expedite the process of approving its Pacific NorthWest LNG terminal and natural gas pipeline, lowering taxes and weakening environmental regulations in the process.
After all, Petronas has a well-established record of getting what it wants in the other countries it operates in, such as Sudan, Myanmar, Chad and Malaysia.
This week, the B.C. government did cave to at least one Petronas’ demands — cutting the peak income tax rate for LNG facilities from seven to 3.5 per cent, thereby slashing in half (Read more…)