condemns the project saying that the markets are not there in New England.
The investment case for selling that power to New England is actually not looking very good, partly because they have more than enough natural gas — cheap natural gas — to meet their own electricity needs for the next decade, at least,"
He adds that it is also difficult to raise the $6.2 billion to build this.
On the other hand, Nalcor's CEO, Ed Martin, is saying a much more rosy vision.
We are paying only a very small amount to flow over the lines of Nova Scotia and New Brunswick, meaning that were getting to that market at a very, very low cost.
Hmm, so who to believe. We want projects to make environment, economic and practical sense, but we have to be realistic. First Nations peoples have their own issues about this development, and other outstanding concerns, and have yet to give theire blessing. There is much more to learn about this project proposal, and it is far from a done deal.