LONDON — Europe’s largest bank HSBC said on Friday it would mostly stop funding new coal power plants, oilsands and arctic drilling, becoming the latest in a long line of investors to shun the fossil fuels.
Other large banks such as ING and BNP Paribas have made similar pledges in recent months as investors have mounted pressure to make sure bank’s actions align with the Paris Agreement, a global pact to limit greenhouse gas emissions and curb rising temperatures.
“We recognize the need to reduce emissions rapidly to achieve the target set in the 2015 Paris Agreement… and our responsibility to support the communities in which we operate,” Daniel Klier, group head of strategy and global head of sustainable finance, said in a statement.
As a general rule I find that most North Americans are unaware that there is a growing movement of countries that are banning new sales of vehicles powered by gasoline or diesel and may also include other fuels such as propane, compressed and LNG (liquid natural gas).
The local news is rife with plans to grow our exploitation of natural resources and build more pipelines for anticipated expansion to new markets such as China. The federal government is in the process of colluding with the petroleum industry to force the construction of a dil-bit pipeline in a densely populated region of Greater Vancouver. Meanwhile our future markets are vanishing as other governments are phasing out fossil fuels and their engines.
Image #1: A rendering of the Silent Utility Rover Universal Superstructure (SURUS) platform with truck chassis.
SURUS was designed to form a foundation for a family of commercial vehicle solutions that leverages a single propulsion system integrated into a common chassis. (1)
Fuel cell technology is a key piece of GM’s zero-emission strategy.
General Motors’ Silent Utility Rover Universal Superstructure (SURUS) is an electric vehicle platform with autonomous capabilities powered by a flexible fuel cell. GM displayed it at the fall meeting of the Association of the United States Army, as the commercially designed platform could be adapted for military use.
SURUS leverages GM’s newest Hydrotec fuel cell system, autonomous capability and truck chassis components to deliver high-performance, zero-emission propulsion to minimize logistical burdens and reduce human exposure to harm. Benefits include quiet and odor-free operation, off-road mobility, field configuration, instantaneous high torque, exportable power generation, water generation and quick refueling times. (1)
Table 1. List of Countries Banning the ICE & Timeline (2)
At an automotive conference in Tianjin, China revealed it was developing plans towards banning fossil fuel-based cars. Though China has not set a 2040 goal like the U.K. and France, it said it was working with other regulators on a time-specific ban.
“The ministry has also started relevant research and will make such a timeline with relevant departments. Those measures will certainly bring profound changes for our car industry’s development,” Xin Guobin, the vice minister of industry and information technology, said.
Both India and Norway have also said they have electric car targets set for the next few decades. India, home to heavily polluted cities, said by 2030 it plans to have vehicles solely powered by electricity. (3)
I explain this worldwide movement to the electric vehicle and the impact this will have oil markets, however, most of whom I discuss this issue with are unaware of these vital facts. In addition we are seeing growing alternate forms of power sources for our electrical grid, such as solar, wind, tidal, hydro-electric, geothermal and others.
If you ran a business that called for a major investments in capital for infrastructure, would you make it knowing that your market is non-existent? Maybe it’s time for Canadians and Americans to wake up and smell the coffee.
Previously, I reported on Cryptocurrency Market Capitalization and its relevance to understanding movements in the prices of cryptocurrencies. Let’s take a look at the markets one week after the reported $25bn of capital was put into the crypto markets. Refer to Figures 1 and 2 below, where in Fig. 2 we see that the TMC moved from $275 bn to $300 bn in under one hour.
Figure 1. Total Market Capitalization April 12 to 19th, 2018
Figure 2. TMC April 5 to 12th, 2018 (1)
Inspection of Figure 1. indicates that the TMC demonstrates a weekly upward trend. After the initial spike of $25 bn reported last Thursday, another $25 bn was added to the TMC Friday. For most of the week it hovered at the $325 bn level until Wednesday April 18th. Since then another $25 bn has been added over 24 hours to a new level of $350 billion. This is a total increase in the TMC of the Cryptocurrency market in one week of $75 billiion, or 27.2 %, from $275 to $350 billion.
Figure 3. TMC of Top 25 Cryptocurrencies, April 12th to 19th
Top 25 Cryptocurrencies
Of the listed 1574 cryptocurrencies traded on over 10,000 markets as reported by the website CoinMarketCap we see that Bitcoin represents over 39% of the TMC, and the top 25 altogether account for over 87% of capital in the market.
Of the 25 listed coins/tokens inspected we see that 22 advanced and only 3 retracted on the week, for 88% of the listed cryptocurrencies in the green. Most of these advanced by 25 to 35% over the week, with Stellar advancing the most at 59%. This is an example of a competitive marketplace where various suppliers are in competition for market share.
Note that the TMC increased from $275 to $350 Billion USD or 27%, and by inspection we can see that the average price of the cryptocurrencies listed in the top 25 increased by a rate between 25 to 35%. At present the TMC of $350 bn is 42% of the peak TMC of $829 bn which occurred earlier this year on January 7, 2018. Since the peak the TMC has been generally trending down to current levels.
We can see from the forgoing that there is a strong correlation between TMC and the price movements of the various cryptocurrencies. This is the market dynamic of supply and demand in action; as the money supply increases in a market of fixed supply such as cryptocurrency, the prices of said commodities in that market must rise.
Is it possible that we have seen the bottom range of current TMC and moving forward we may experience more uptrends.
Note: Soon to come is a separate blog for Digital Assets where I will continue to write, curate and publish these types of articles, reports and reviews relating to the Digital Asset Class, FinTech, Blockchain, Smart Contracts, CryptoCurrency and Markets. Duane M. Tilden, P.Eng; April 12, 2018.
Working on technical analysis of cryptocurrency, such as Bitcoin, we search for causes and effects to understand what makes markets move or prices to change. This is quite similar to how we may view the stock or commodity markets and a lot can be gained from techniques used by stock analysts and traders. Knowing how much of a commodity one can purchase for a given price is often vital to budgeting, whether it’s for a construction project, a dinner, or some other financial endeavour. If I cannot purchase enough of one product for a particular price then I must either raise more capital, or purchase an inferior product that may meet the specification or recipe, if one is available that can achieve the desired outcome.
Observing trends on charts and graphs is part of the toolbox where changes in pricing, volume or other parameters are graphed over time. We search for short, medium and long term trends. When something happens in a marketplace we assume there is a reason and look for relationships so that we can further understand market influences on pricing. Down to a basic level we seek “if this, then that”. This is the basis of supply demand economics.
Thursday, April 12th 2018 we saw that the price of Bitcoin went from trading at about $6800 to $7800 USD overnight, an increase of about 15%. An excellent opportunity to investigate what is the cause of this change in price and subsequent effects in the cryptocurrency market. How does this event distinguish itself from other price changes we often read or hear about regarding Bitcoin? If you wish to know more, read on.
Market Cap and Total Market Capitalization
Prior to the advent of cryptocurrency markets Market Capitalization is used in the financial world to define the size of a company by multiplying the current stock price by the number of outstanding shares to determine the size of a company. Currently the usage of Market Capitalization and Total Market Capitalization are applied also to the issues of Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, Tron, Lisk, Minex, Dash, EOS and a multitude more. Every month new coins and tokens are emerging with whitepapers, websites, and ICO offerings.
Simply put, the Total Market Capitalization (TMC) is the sum of all the cryptocurrencies Market Caps (MC) listed and traded on the polled markets. It is important to remember this basic concept regarding markets in that there are events in the world which may cause change in attitudes or availability of capital, and movements of capital in or out of the market are reflected in the Total Market Cap. As this value moves so does money in and out of the markets.
Figure 1. Total Market Capitalization of Listed Cryptocurrencies, April 28 2013 to April 12 2018
Figure 2. Total Market Capitalization of Listed Cryptocurrencies, April 5 2018 to April 12 2018
Examining the forgoing graph on Figure 1 we can see how most of the TMC has been raised in the last 12 months. The TMC peaked on Sunday, January 7th 2018 with a value of $813.87 billion, and has a current value (April 13th, 2018) of $301.79 billion. Note that when we examine Figure 2 and the weekly chart of TMC we see a decided jump in value from around $275 billion to the current $300 billion, indicating $25 billion was introduced into the cryptocurrency market in less than a day.
Figure 4. Historical Dominance Chart – Percentage of TMC by Cryptocurrency
In Figure 3, this influx of capital into the market was reflected in the rapid increase in the price of Bitcoin, which has the highest trade volume on all markets and is dominant in the cryptocurrency market as seen in Figure 4. Coinbase price for Bitcoin shot up from $6856 to $8011 in about one hour, marking a jump in value of $1155 or 16.8%.
Almost all other cryptocurrencies followed suit and prices increased across the board as the previously tight bear market flooded with new capital. Sell orders were triggered as the prices rose rapidly and traders had new capital to reinvest into the market, resulting in further increases in alt coin prices.
Markets and Events
So we have clear evidence that a surge or influx of capital has entered the market. Now the questions that remain in our analysis of this significant event or change in the market are threefold; 1. What happened? 2. Who is making the trades? 3. On what markets?
1. What Happened?
One potential cause for this change in TMC is the entrance of new money or players in the market. A study released on April 10th regarding the compliance of Bitcoin and cryptocurrencies meeting Islamic law relating to money and usury concluded by one Islamic scholar to be halal, or meeting strict Islamic requirements. For cryptocurrency holders this is important news as it opens markets to a significant sized population of potential users and investors.
JAKARTA, Indonesia. – April 10, 2018 – As fluctuations and volatility continue to rock the cryptocurrency world, Blossom Finance has commissioned and released a working paper exploring the Islamic permissibility of bitcoin, cryptocurrency, and blockchain. The paper concludes that Bitcoin fully meets the definition of Islamic money under certain conditions and is generally permissible under Shariah. Blossom’s research also includes analysis of various legal opinions (fatawah) issued by prominent Islamic scholars on the topic. The research and development of the working paper was led by Mufti Muhammad Abu Bakar – Blossom’s internal Shariah advisor and Shariah compliance officer.
2. Who is Trading and Why?
Let’s examine another report on this recent price spike to see if there is a correlation on what occurred on April 12th.
Bitcoin, the most dominant cryptocurrency in the global market, recorded a 15.94 percent increase in value, from $6,900 to $8,000. The price of the cryptocurrency rose by $1,100 within a 30-minute window, as massive buy volumes emerged. […]
To influence the price of bitcoin, which has a daily trading volume of above $9 billion, billions of dollars would have to be traded. More importantly, billions of dollars worth of new capital have to flow into the cryptocurrency market in order for the price of bitcoin to spike up, and bring the entire market with it.
The April 12 surge in the price of bitcoin was not caused by investors cashing out from alternative cryptocurrencies (altcoins) to bitcoin or reallocating their funds from other major cryptocurrencies to bitcoin, because the valuation of the cryptocurrency market increased by more than $20 billion.
A wave of new investors or potentially a few institutional investors likely allocated billions of dollars into the market in a short period of time, causing a short-term pump and leading the price of the cryptocurrency to surge.
It is virtually impossible to pinpoint a single factor to justify the price trend of any cryptocurrency, because a variety of factors can contribute to the momentum of a cryptocurrency.
As we see from this article on CCN they report on the price surge however dismiss the ability to determine the cause of this price movement as “virtually impossible”. While this may be the case when examining the price movement of individual coins, it is different when the whole market moves in unison. When this occurs we seek further explanation to determine whether this movement is a short term spike, or if the market has moved up to another level. For hodlers an increase in TMC to a higher level is good news, although it depends if investment is of a centralized holder or a widely dispersed or decentralized population.
There is a potential of overlooking causes in the market or performing a superficial analysis if we do not include the TMC in our study. One market analyst attributes to the surge in Bitcoin price to other factors such as short positions as follows;
Brian Kelly, CNBC contributor and head of BKCM, which runs a digital assets strategy for clients said: ”Once bitcoin broke higher, shorts were squeezed and forced to cover.”
“The ratio of short margin trades versus longs has been increasing recently,” said Nick Kirk, quantitative developer and data scientist at Cypher Capital, a cryptocurrency trading firm. “Buying volume ticked up today and a lot of these short trades got liquidated, helping fuel the rally.”
Others relate the price surge to relief of upcoming tax filing deadlines compounded by short positions;
Some market participants believe that Thursday’s sudden upward price move “could be an unwinding of that (tax-related) pressure,” and the spike had a compounding effect as it “forced traders who had bet against the cryptocurrency to buy back into the market,” reports CNBC.
These analysis overlooks the overall increase of $25 billion to the TMC or the rally in the rest of the market. If the connection between the price rises and increase in TMC is being caused by a new population of investors representing 1.6 billion people, then this is a likely indication of more to come in the future and we are seeing the first wave of new capital enter markets.
3. On What Markets are They Trading?
Where these trades are being made is a more difficult task requiring some deeper digging into available data. If we find that all of the capital is coming into the market on only a few or one exchange then that would be indicative of a centralized actor in the market, while if we see more evenly traded entry across a number of markets this may indicate a wider dispersed population. At this time we have no information if any abnormal trading occurred on any market on April 12th except for an overall increase in volume. Deeper analysis is beyond the scope of this report, and I will leave it as an exercise for the interested reader.
Exploring the historical data records on CoinMarketCap it is revealed that the 24 hour trading volume went from $4,641,890,000 on April 11th to $8,906,250,000 on April 12th. Clearly the increase in trading volume of $4.3 billion is not the TMC of $25 billion, and we look also at the price increase to get an indication of the increase in MC. From the same data chart we read that MC increased from $118,048,000,000 to $134,114,000,000 for a total of $16.1 billion which would be a dominance factor of 0.64 on the increase of $25 billion TMC. Currently the Bitcoin dominance factor is at about 0.40 and has been rising.
The forgoing analysis is not an exact science and as we can see relationships are not always inelastic. For example the increase in the TMC of $25 billion cannot be accounted for by the increase in Bitcoin trading volume of $4.3 billion divided by the Dominance Factor of 0.4 which would predict an increase in Total Trading Volume of $10.75 billion. This would indicate that there is a multiplier effect on invested capital to TMC. Also, capital is constantly flowing in and out of the markets and may change hands many times in one day. All of these and others unexamined factors may affect the TMC.
Events in this world form links in a causal chain, and often to manage best our resources information on relationships between various factors are important to understand when forming investing strategies or making budget decisions. Analysts provide qualified opinions on trends, and predictive market analysis is an important and valuable tool in decision making. Understanding fundamental market economics is essential to understanding cryptocurrency markets.
Let’s get straight to the point. Canadians are getting ripped off. We pay the among the highest prices in the world for our own plentiful resources. Meanwhile we ship it to the US and abroad. This is in clear conflict with stewardship goals of our resources, environment and our collective future. What gives Mr. Trudeau?
Canada taxes its oil and gas companies at a fraction of the rate they are taxed abroad, including by countries ranked among the world’s most corrupt, according to an analysis of public data by the Guardian.
The low rate that oil companies pay in Canada represents billions of dollars in potential revenue lost, which an industry expert who looked at the data says is a worrying sign that the country may be “a kind of tax haven for our own companies.”
The countries where oil companies paid higher rates of taxes, royalties and fees per barrel in 2016 include Nigeria, Indonesia, Ivory Coast and the UK.
“I think it will come as a surprise to most Canadians, including a lot of politicians, that Canada is giving oil companies a cut-rate deal relative to other countries,” said Keith Stewart, an energy analyst with Greenpeace.
Companies like Chevron Canada paid almost three times as much to Nigeria and almost seven times as much to Indonesia as it did to Canadian, provincial and municipal governments.
Chevron used to run its Nigeria and Indonesia projects out of the U.S., but after allegations that they evaded billions in taxes, their operations were moved to Canada.
According to data collected by the Guardian, Suncor also paid six times more taxes to the UK, and Canadian Natural Resources Limited (CNRL) paid almost four times more to Ivory Coast. (1)
Figure 1. Taken from: Alberta First Nation presents evidence against Teck’s exploratory drilling for oil sands mine (2)
CALGARY – British Columbia’s government wants to restrict shipments of oilsands crude in pipelines and on railways cars in the province through a series of proposed new rules that is set to create additional uncertainty for Kinder Morgan Canada’s $7.4-billion Trans Mountain pipeline expansion.
The proposed rules also open B.C. up to jurisdictional challenges and have already exacerbated a spat with Alberta Premier Rachel Notley, who called the proposals “both illegal and unconstitutional.”
B.C. Environment and Climate Change Strategy Minister George Heyman announced Tuesday rules to limit “the increase of diluted bitumen transportation until the behaviour of spilled bitumen can be better understood and there is certainty regarding the ability to adequately mitigate spills.”
To that end, B.C. will establish an independent scientific advisory panel to make recommendations on if and how heavy oils can be safely transported and, if spilled, cleaned up.
Tuesday’s announcement did not specifically mention Kinder Morgan’s Trans Mountain expansion, which will boost the shipments of oil from Alberta to Burnaby, B.C. from 300,000 barrels per day to 890,000 bpd, but the B.C. NDP had promised to block the pipeline’s construction during an election campaign last year.In an interview with the Financial Post, Heyman said B.C.’s Environmental Management Act “gives us the right, in addition to our responsibility, to defend B.C.’s vulnerable coastline, our inland waterways, our economic and environmental interests and that’s what British Columbians expect us to do.” (3)
[…When asked his feelings on digital currency, Ma claimed to be “totally confused,” explaining that “even if it works, the whole international rules on trade and financing are going to be completely changed.”
At the same time, Ma – whose net worth tops $46 billion – was quick to praise the advent of blockchain technology, suggesting his company had already looked into ways to harness this tool. …] (1)
(Chinese: 阿里巴巴集团控股有限公司; pinyin: Ālǐbābā Jítuán Kònggǔ Yǒuxiàn Gōngsī) is a Chinese multinational e-commerce , retail, Internet and technology conglomerate founded in 1999 that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals, as well as electronic payment services, shopping search engines and data-centric cloud computing services. It also owns and operates a diverse array of businesses around the world in numerous sectors.
In 2012, two of Alibaba’s portals handled 1.1 trillion yuan ($170 billion) in sales. At closing time on the date of its initial public offering (IPO), 19 September 2014, Alibaba’s market value was US$231 billion.
As of January 2018, Alibaba’s market cap stood at US$490 billion. It is one of the top 10 most valuable and biggest companies in the world.
Of the many and diverse interests of mine, I include the emerging technology and upcoming revolution in finance, the CryptoCurrency [CC], Smart Contracts [SC] and the BlockChain [BC]. This makes sense as it fits in well with my technological background and interest in all things internet and information technology.
My first experiences with CC’s go back to 2012 when I was first looking at Bitcoin. I was interested in mining and how the various video cards of the day would perform to mine the BTC. Unfortunately, beyond doing some initial research and some trials with faucets in 2014, I did not invest early in Crypto. Some of the early amounts were still in present in my wallet and the small amount had grown considerably even left alone, from about $1 to $20 in a couple of years. This is shown in my current balance below.
Yesterday, January 13th 2018 marks a first. The day I spent my money on cryptocurrencies online and put myself at risk, and this is after much careful deliberation. I am starting with $200 (Canadian Dollars) with a plan of investing $100 weekly in strategic ways to build my nest-egg. This will require some amount of discipline to maintain this schedule however I believe is doable and easy to duplicate.
Blueprints for Success – A New Blog
When someone finds a way to produce a product or service better than other’s they create an opportunity to profit from their advantage. My past experience working as a professional engineer in a number of consulting and design firms, including my own company, have proven that these methods work. It takes time, research, trial and error, and finally reporting.
Accumulating knowledge in a book is an evolving task and takes time. As I move forward, I plan to divest to you, the reader, my methods. What I did, how it is working, and other related concerns, opportunities or just prognostications. For this I will be creating a separate yet to be named and soon to be launched blog.
The First Steps – Make a Budget
Making the decision to start investing took some time on my part. Of course budgeting was crucial and ensuring that I had a stable source of income to commence a savings and investing program. I will be able to establish more detailed plans as my investment grows.
Wallets and Exchanges
This alone is a seemingly large and complicated topic. At present I will leave out most details and explanations for later posts, focus being on getting started.
At this time I am using Coinbase as both my on-line wallet and exchange. Eventually I will have more wallets, some online, others on my digital devices. The wallet is where individual CC’s are digitally stored. These include online wallets, wallets stored on devices such as computers and phones, and hardware wallets. More later.
I created an account and linked my bank account via a Visa/debit Card which I already obtained from my bank for online purchases. I had done this a couple of weeks prior to making my first transaction.
The first transactions were two purchases where I bought $100 of Bitcoin and $100 of Ethereum. The amounts include transaction fees and worked out to purchase 0.00538 BTC and 0.05557 ETH and have been detailed as seen in the screenshot.
Figure 1. Screenshot of Coinbase Cryptocurrency Transactions
Also shown in the activity which is a third transaction I made to acquire some mining power, where some of the recently acquired BTC were forwarded to the provider from the Coinbase wallet.
To Be Discussed (TBD).
I decided to experiment with hiring some computing power online from the cloud using the provider FFLAK. Upon registration you receive a 14 day trial and 100 Gh/s mining power to mine Bitcoin. I upgraded to add mining of Ethereum at a rate of 2 Mh/s in one transaction using $40USD of BTC, and upgraded another 2 Mh/s with $40USD of LTC. See Transaction Fees.
On the calculator provided the projected return from my initial $80 investment annually is $348 after service fees deducted which is 435%. A pretty good rate of return, worth making an initial trial investment.
Figure 2. FFLAK Mining CC Calculator
Prior to investing, I have been experimenting with mining and faucets. Since October of last year I have been mining a pre-ICO CC using my browser. This currency uses a novel approach to mining and I have accrued over 60 tokens over the past 4 months. Visit JSECoin to learn more.
Figure 3. JSE Coin Browser Mining Program
Faucets and Games
ICO’s – Initial Coin Offerings and Airdrops
Cryptocurrency and Value Propositions
No guarantees or warranties are implied or expressed by the author. Risks are inherent when investing in speculative ventures, and not all information may be included when opinion based statements and projections are made. The reader is advised to perform independent due diligence.
All readers and investors are assumed to be self-governing and able to formulate their own opinions and make independent decisions. No liability will be assumed by the author, his assigns, or the corporate entities mentioned in these published articles, for any losses.
Any payments made to the author are generated by referral links. These generate a small return and is the only financial reward provided to the author. This is in return for his time and expertise spent in sharing this valuable information to you the reader. Please follow the provided links as a small, no obligation courtesy.
The year started with a solar-plus-storage record: AES inked a contract for a Kauai project at 11 cents per kilowatt-hour. The facility will combine 28 megawatts of solar photovoltaic capacity with 20 megawatts of five-hour duration batteries, producing 11 percent of the island’s electricity.
That project managed to outsize an earlier Tesla/SolarCity deal on the island and shave a few cents off the unit price. In May, another project made this one look like an appetizer.
Tucson Electric Power contracted with NextEra Energy Resources to build out a major solar-plus storage project at a 20-year PPA rate below 4.5 cents per kilowatt-hour. The facility will pair 100 megawatts of solar generation with a 30 megawatt/ 120 megawatt-hour storage system. (That’s as big as the AES Escondido system, which was the largest of its kind until Tesla outdid it in Australia).
That announcement turned heads and set of a flurry of number crunching, as analysts and rivals tried to unpack how such a low price could be possible. The investment tax credit plays a role, as does NextEra’s ability to source equipment at aggressive price points.
Crucially, this is happening in sunny Arizona, where the abundance of solar generation is creating value for dispatchable power. Storage thrives when its flexibility is compensated, and Arizona’s regulated utilities can do just that.
Full Story at: top-10-energy-storage-stories-of-2017
Just when I think I understand the cryptocurrency/block chain space, I realize I didn’t understand anything at all
Four recent events have made me realize that I don’t understand this space anywhere near as well as I thought I did. But that’s good: it means I’ve been forced to come up with a new mental model to explain to myself how all these projects relate to each other.
TL;DR: the two questions to ask about a “fiduciary code” requirement are: who do I need to trust and what am I trusting them about?
A simple model to capture the essential differences between some consensus platforms
The rest of this article describes the four events that influenced me to draw it.
Event 1: Nick Szabo’s “The Dawn of Trustworthy Computing” Article
In his recent article, Nick Szabo introduces two really helpful terms to explain what makes systems like Bitcoin particularly noteworthy.
View original post 1,177 more words
Keywords: UBC, Site C, Hydro, Dams, Energy, Electricity, Renewable Energy, Employment, Jobs, Environment, Sustainable, Conservation, Water, Governance, British Columbia
In a November 23 report issued “by a team of researchers led by Dr. Karen Bakker ” finds “Site C creates fewer jobs and has larger environmental impact.” (1)
“[…New Research Report: Comparative Assessment of Site C Employment (17 November 2017)
A new UBC report compares employment numbers from Site C versus the alternatives, and concludes: stopping Site C will create a larger number of sustainable jobs in the province, including in the Peace Region.
UBC’s Program on Water Governance has conducted a detailed comparison of employment generated by Site C versus the alternative portfolios put forward by BC Hydro and the BCUC.
- Our analysis indicates that terminating Site C and pursuing the alternatives results in modest job losses in the short term, and substantial job gains in the medium and long-term.
- These jobs are generated by remediation, conservation, and alternative energy projects.
- Terminating Site C and pursuing any alternative portfolio creates a higher number of sustainable jobs in the province, including in the Peace Region.
- Site C provides the least jobs per dollar spent.