Fossil gas prices (branded as “natural” gas by the industry) will rise 113 per cent this year, according to a forecast in B.C.’s provincial budget released this week.
Why? Because the Wall Street-owned Coastal GasLink pipeline is about to start exporting gas to power stations overseas.
That means consumers in B.C. will soon have to compete with higher-priced markets, to buy our own gas.
It’s great news for KKR, the U.S. private equity giant that owns a majority stake in the pipeline. (CEO Henry Kravis was once courted by Trump for U.S. Treasury Secretary).
And it has more of Trump’s billionaire buddies salivating. Blackstone and Apollo Global Management are hoping Premier Eby will fast-track their PRGT pipeline, too.
But it’s another rising cost for B.C. farmers, ferries, warehouses and factories, which will be passed on to you. And if you heat water, air or food with gas – get ready to pay more.
Greedy private gas company Fortis already slapped customers with a bill hike in January to help pay for its own LNG export pipeline. This increase will bite even harder.
The real solution to rising gas prices and economic warfare by U.S. billionaires is to build more renewable energy. Not to give those billionaires more pipelines.
