B.C. throne speech lacks bold LNG predictions

The B.C. government's throne speech Tuesday trumpeted the economy as a buffer against oil-price declines hurting other economies but muted previous bold forecasts of a liquefied natural gas bonanza for the province.

However, the speech did not include any estimates of future LNG plants after Premier Christy Clark said last month that B.C. remains on target for three liquefied natural gas facilities by 2020.

Lt.-Gov Judith Guichon said in the speech that LNG is still a generational opportunity with the potential to create 100,000 jobs. 

In 2011, the government's jobs plan forecast "one LNG pipeline and terminal in operation in Kitimat by 2015 and three in operation by 2020."

Clark said in January that many energy companies interested in B.C. as a potential LNG investment are re-examining their bottom lines as energy prices drop, but she remained confident about three B.C. export plants.

Guichon said the government has worked to ensure that B.C. is globally competitive, and a secure place to do business. 

"Global companies have already invested more than $7 billion to pursue their proposed projects, and they continue to undertake the work necessary to bring these projects to life."

Guichon said B.C., with its growth in forestry, mining, tourism, agriculture, technology and natural gas sectors, is better protected against economic declines currently being faced by oil-dependent jurisdictions.

"Today, provinces with oil-based economies and indeed our federal government are forced to respond to the sudden fiscal impacts," she said.

"We are fortunate in B.C. that we have a diverse economy and the people, working in diverse sectors, to build
our future." 

B.C. will join an exclusive club this month by delivering what will likely be the only balanced budget among Canada's provinces, Guichon said.

But she did not mention possible changes to social-services payments suggested last week by Finance Minister Mike de Jong, who said a larger-than-forecast budget surplus gives the government some room to move on targeted initiatives.

De Jong is set to deliver the budget next Tuesday.

Guichon also said the government plans to establish a Medal of Good Citizenship to recognize British Columbians who make extraordinary contributions by volunteering their time, money and talents.

Opposition wants to shift focus 

The Clark government rode into the last election on a wave of LNG-fuelled optimism. Since then, of course, energy prices have dropped through the floor.

Still, Finance Minister Mike de Jong says B.C. is the envy of other provinces.

"The province is performing well by any measure and certainly comparatively well," de Jong said. Well enough to balance the budget, he says, but with little left over for new program spending.

The Opposition wants to shift focus away from LNG.

NDP House leader Mike Farnworth says the government bet too heavily on LNG.

"There are sectors of the economy that have been ignored the last two years because of their sole focus on LNG," said Farnworth

And Green Party MLA, Andrew Weaver, says B.C. is in need of a whole new vision.

"One that puts education first, one that puts the clean tech sector first," he said.