B.C. throne speech lacks bold LNG predictions

The B.C. government's throne speech Tuesday trumpetedthe economy as a buffer against oil-price declines hurting othereconomies but muted previous bold forecasts of a liquefied naturalgas bonanza for the province.

However, the speech did not include any estimates of future LNGplants after Premier Christy Clark said last month that B.C. remainson target for three liquefied natural gas facilities by 2020.

Lt.-Gov Judith Guichon said in the speech that LNG is still agenerational opportunity with the potential to create 100,000 jobs.

In 2011, the government's jobs plan forecast "one LNG pipelineand terminal in operation in Kitimat by 2015 and three in operationby 2020."

Clark said in January that many energy companies interested inB.C. as a potential LNG investment are re-examining their bottomlines as energy prices drop, but she remained confident about threeB.C. export plants.

Guichon said the government has worked to ensure that B.C. isglobally competitive, and a secure place to do business.

"Global companies have already invested more than $7 billion topursue their proposed projects, and they continue to undertake thework necessary to bring these projects to life."

Guichon said B.C., with its growth in forestry, mining, tourism,agriculture, technology and natural gas sectors, is better protectedagainst economic declines currently being faced by oil-dependentjurisdictions.

"Today, provinces with oil-based economies and indeed ourfederal government are forced to respond to the sudden fiscalimpacts," she said.

"We are fortunate in B.C. that we have adiverse economy and the people, working in diverse sectors, to build
our future."

B.C. will join an exclusive club this month by delivering whatwill likely be the only balanced budget among Canada's provinces,Guichon said.

But she did not mention possible changes to social-servicespayments suggested last week by Finance Minister Mike de Jong, whosaid a larger-than-forecast budget surplus gives the government someroom to move on targeted initiatives.

De Jong is set to deliver the budget next Tuesday.

Guichon also said the government plans to establish a Medal ofGood Citizenship to recognize British Columbians who makeextraordinary contributions by volunteering their time, money andtalents.

Opposition wants to shift focus

The Clark government rode into the last election on a wave of LNG-fuelled optimism.Since then, of course, energy prices have dropped through the floor.

Still, Finance Minister Mike de Jong says B.C. is the envy of other provinces.

"The province is performing well by any measure and certainly comparatively well," deJongsaid. Well enough to balance the budget, he says, but with little left over for new program spending.

The Opposition wants to shift focus away from LNG.

NDP House leader Mike Farnworth says the government bet too heavily on LNG.

"There are sectors of the economy that have been ignored the last two years because of their sole focus on LNG," said Farnworth

And Green Party MLA, Andrew Weaver, says B.C. isinneed ofa whole new vision.

"One that puts education first, one that puts the clean tech sector first," he said.