Ontario Liberals are peddling Hydro One for the equivalent of a payday loan

National Post, Kelly McParland
Government documents can often make dull reading, couched in the near-impenetrable bureaucratese in which public servants specialize. Thursday’s report by independent budget watchdog Stephen LeClair was a welcome exception – welcome to everyone except Premier Kathleen Wynne’s government, that is.

In simple, blunt terms, LeClair explained that the Liberals’ plan to sell off 60% of Hydro One, the provincial power distributor, will cost far more than it brings in. While it may provide a short-term benefit to the government by helping it balance the budget in time for the next election, the gains will be brief while the costs run on indefinitely.

“In years following the sale of 60 per cent of Hydro One, the province’s budget balance would be worse than it would have been without the sale. The province’s net debt would initially be reduced, but will eventually be higher than it would have been without the sale,” LeClair says.

The annual loss from forgone revenue would range from $300 million to $500 million. The province would get a better deal if it simply borrowed the money rather than selling off an asset to produces a dividend for taxpayers of $750 million a year. Read article

21 thoughts on “Ontario Liberals are peddling Hydro One for the equivalent of a payday loan

  1. If Toronto people wanted more transportation infrastructure, then Toronto Hydro should have been sold, but that would have cost the present government plenty of votes.

    No party could be seen to back the sale of Toronto Hydro.

  2. FRAUD PROTECTION

    Fraudulent practices of the wind energy industry are increasingly evident in Ontario and globally. Facts reveal that the same policies that increase electricity costs are harming people and the environment. Analysts anticipate huge losses, fines and other penalties.

    Investors are advised to be aware if they hold investments in wind energy companies profiting from wind energy fraudulence.

    CIBC, TD Bank, and other big, international financial institutions are invested in wind energy developers. Do you know what your money is doing?

    Ask the Ontario Provincial Police how you can protect yourself and your family from white collar fraud in Ontario.

  3. Canadian banks are also invested in Canadian oil and look what happened on Friday when Keystone XL was finished-off.

    TSS/Tar Sands Solutions Network
    Steering Committee includes:
    Katie Colarulli, Sierra Club USA
    Hannah McKinnon, Environmental Defence Canada
    Tzeporah, Berman, Former Co-director Greenpeace International
    Bill McKibben, 350.0rg

    TSSN members include:
    350.org
    Greenpeace Canada
    NRDC
    Rockefeller Brother’s Fund
    http://www.tarsandssolutions.org/about/steering-committee

    • Tar Sands Solutions Steering Committee also includes:
      David Turnbull

      An internet search suggests that David Turnbull, Dartmouth ’04, is the s/o Bruce H. & Susan W. Turnbull of Bethesda, Maryland?

      OMICS International

      Susan W. Turnbull was Vice-chair of the Democratic National Committee 2005-2009 and member 1992-2011.
      Two sons Joshua & David.

      http://www.research.omicsgroup.org/index.php/Susan_Turnbull

      • Connections, May 14, 03

        Camps and Schools 5/14/03
        Scroll down to:
        David Turnbull, junior at Dartmouth, s/o Bruce H. and Susan W. Turnbull, Bethesda.

        Page no longer available, Google: “Camps and Schools 5/14/03”

      • Oil Change International, Washington, D.C., founded 2005

        OCI Staff & Board includes:
        Alex Doukas, B.A. Hon. University of Toronto
        Hannah McKinnon, Environmental Defence Canada
        David Turnbull

        Board includes:
        Michael Brune, Executive Director, Sierra Club, U.S.

        Funders Include:
        European Climate Foundation
        Oak Foundation
        Rockefeller Brothers Fund
        Tides Foundation

        http://www.priceofoil.org/about/staff

        Note the associations with Greenpeace.

      • OSEA/Ontario Sustainable Energy Association

        ‘Community Power: The Way Forward’, 2006

        Authors: Sally Miller, Deborah Doncaster, Alex Doukas

        ———————————————————————-

        ‘Landowner’s Guide to Wind Energy in Alberta’, March 2010

        Authors: Tim Weis, Alex Doukas, Kristi Anderson

        Just Google the above titles.

      • Wikipedia: European Climate Foundation

        Funders include:

        ClimateWorks Foundation
        The McCall MacBain Foundation
        Oak Foundation

        http:enwikipedia.org/wiki/European_Climate_Foundation

      • Wikipedia: John MacBain

        Founder of the European Climate Foundation
        Trustee of the Trudeau Foundation, Canada
        1984-1987, Director of Marketing at Power Financial

        http://en.wikipedia.org/wiki/John_MacBain

        John MacBain is ex-brother-in-law of Helene Desmarais w/o Paul Desmarais, Jr.

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