Were they ever up?

TQM's PNGTS Extension Volumes Down

Latest figures from the Canadian National Energy Board (December 1999) show that TQM managed to ship only 60% of their authorized volume of gas on the PNGTS Extension during the period covered.

Accordingly, things are not going so well for stakeholders of the PNGTS Extension.

• TCPL stocks way off their mark
  
  
• Gaz Metropolitain's hemorrhage stemmed only thanks to the recent application of millions and millions of taxpayer's dollars by the Bouchard provincial government.

Recall that it was the seperatist Bouchard Quebec provincial government that fell all over itself to get this project on the road - putting in the fix here, issuing a cabinet decree there.

Former CEO of Gaz Metropolitain, now CEO of Hydro Quebec, Caille's dream of making Quebec the "energy hub of North America" was simply irresistable to Bouchard's gang.

And of course the National Energy Board, whose job it is supposed to be to see that projects like these are actually

1. economically viable
2. acceptable environmentally

Now the US's Federal Energy Regulatory Commission (FERC) has published figures which confirm what we told everyone who'd listen (or should I say wouldn't listen) at all the bloody hearings: New England doesn't need Western Canadian natural gas when it can get Eastern Canadian natural gas which is five-and-a-half times closer.

The most recent Vermonters for a Clean Environment Weekly Energy News update reports that

Inside F.E.R.C's Gas Market Report says "New England, long one of the nation's most underserved gas markets, suddenly is flooded with more gas than it can use," because of new supplies from Nova Scotia's Sable Island gas fields.

Hate to say we told you so, but we told you so.

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