British Columbia’s election results are finally in. No matter how you cut them, they are not encouraging for planned resource projects. Those that are already advanced, like Kinder Morgan’s Trans Mountain pipeline expansion and some liquefied natural gas proposals, may try to march forward. A lot of money has been spent and such projects are designed to withstand electoral change over decades.
There is no denying that if B.C. was a risky place to do business when it had a majority Liberal government, due to its unique combination of having an aggressive environmental lobby and a powerful aboriginal population. But now that the Liberals have been reduced to a minority and will need the support of the Greens to stay in power — or that the left-leaning NDP and the Greens could get together to form a government of their own — the political risk has skyrocketed.
To be sure, B.C. is known as a place of wacky politics. The difference this time is that the world is watching, since much of the cash on the line comes from abroad, whether Malaysia, Europe or the United States. Continue Reading →