Andrew Bell

Anchor, Reporter

Follow|Archive

"What you do not wish for yourself, do not do to others" -- Confucius

The Chinese philosopher and politician is said to have been born on this day in 551 BC. One of his most famous precepts was leading by one’s own conduct instead of relying on fixed rules. He rarely set out straightforward arguments but relied on allusion.

Pacific NorthWest LNG terminal conditionally approved

Some observers are accusing the federal government this morning of failing to lead by example with its conditional approval of  the $11.4-billion Pacific NorthWest LNG terminal to export liquefied natural gas from northern British Columbia.

The decision is “a major step backward for the Trudeau government’s commitment to meet its Paris climate target,” said George Hoberg, professor of environmental and natural resource policy at the University of British Columbia. “Canada has committed to reduce its emissions by 30 per cent by 2030, but this decision increases emissions by nine million tonnes.”

Our Top Line on BNN is the green light for the project that B.C. Premier Christy Clark bills as “the largest capital investment proposal in British Columbia’s history… Pacific NorthWest LNG represents an unprecedented opportunity to create thousands of jobs and new economic prospects for First Nations and communities throughout our province.”  

The case against LNG

At 11:05 a.m. ET on Commodities we hear from Matt Horne, associate regional director for British Columbia at the Pembina Institute, a think-tank that advocates “reducing the harmful impacts of fossil fuels while supporting the transition to an energy system that is clean, safe and sustains a high quality of life.”

He is no fan of the development, warning this month that “allowing Pacific NorthWest LNG to proceed would put B.C.’s climate targets out of reach and present a serious obstacle to Canada’s climate ambitions. Therefore, the federal government should say no to Pacific NorthWest LNG.”

Investors looking to turn an profit on the project will be watching work camp suppliers such as Black Diamond Group (BDI.TO) and Horizon North Logistics (HNL.TO) today. “The accommodations providers would be the primary economic beneficiaries of any major LNG project, especially those providing camps for the pipeline construction,” Raymond James analyst Andrew Bradford says. “But regardless of whether it’s a plant or pipeline focus, this project as a whole could boost bed demand by as much as 25 per cent from current levels across the industry."

Biofuel startup gets a boost 

We’ll be talking biofuels on Commodities with Mike Hamilton, CEO of Renmatix, a Pennsylvania company that is working on converting plant waste and biomass into sugars that can be used for energy.The company has attracted big-name backers such as Bill Gates, France’s French oil giant Total and Silicon Valley venture investor Kleiner Perkins.

Finally, here’s some chilling news for freeloaders. Caesars Entertainment has imposed a “comp drink monitoring system” in Las Vegas. Ktnv.com says it supposed to ensure “you're spending enough money before you get your free drink.”

Won’t apply to us high-rollers at the baccarat table, though.

Every morning Commodities host Andrew Bell writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe