08/31/2026
Last week, Business in Vancouver reported that the BC government had made a basic mistake in its 2026 budget that led it to inflate projected gas extraction royalties—what fracking companies pay the Province for access to the resources below Earth's surface—by $500 million per year.
This is an egregious and embarrassing mistake on its own with troubling implications for the NDP's fiscal planning. But it points to two even more fundamental problems.
First, even if the Province's numbers were correct, we would be netting pennies on the dollar compared to what foreign shareholders are earning from the gas in this Province, especially as the LNG industry rakes in record profits thanks to war profiteering. British Columbians—and the Indigenous nations in the Peace region whose lands are being destroyed by this industry—deserve a hell of a lot more than that.
Second, the BC government's royalty revenue forecast relies on the assumption that fracked gas prices in BC will double this year thanks to the ramp-up of LNG Canada. You know who competes with LNG Canada for access to gas produced in BC? Every British Columbian who heats their home with gas and every industry in BC that uses gas for manufacturing, including the already-struggling forestry industry. If gas prices double, the average utility bill could rise by close to $200 a year, and BC's industries could be paying hundreds of millions more than they are today.
The BC NDP, in other words, is betting part of its budget on radically increasing costs for the rest of us by subsidizing the LNG industry. It's win-win for the foreign shareholders that own the oil and gas industry. It's lose-lose for the people of BC.
We're fighting for the people, not for foreign shareholders. Join us. https://bcgreens.ca/join-us/
BIV article: https://www.google.com/search?q=https%3A%2F%2Fwww.biv.com%2Fnews%2Fbudget-error-could-cost-bc-billions-in-gas-royalties-12702159&btnI
Running on Fumes report on the economic impact of rising gas prices: https://davidsuzuki.org/science-learning-centre-article/running-on-fumes-b-c-lngs-overhyped-promises-risky-future-and-public-costs/