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The Ontario government is 50% partner in a plan to build a gas-burning power plant near the downtown core of Toronto. Though this plant will increase smog levels and chlorinate the water, it will be very very profitable. While startup costs of $700 million dollars will be returned by selling electricity to millions of Torontonians, the real profit comes from selling gas. As the other partner in the building of this plant, TransCanada Inc. is creating a long-term high-volume natural gas customer.
Burning natural gas emits nitrous oxide, which turns into smog. Chlorine, another by-product of the process, will be dumped into Lake Ontario. Toronto does not need the Portands Energy Centre, and the world does not need another fossil fuel burning facility.
Most of us are beginning to understand that the health of our planet is in danger, and we must change our ways to save ourselves. We continually read about greenhouse gases and global warming, and yet we still allow new burning facilities to be built.
The simple alternative is windmills. They cost less to build, use no fuel, and create no pollution. There are already nine wind turbine farms under construction in Ontario, all funded by private companies. Obviously the technology works. So why would we even consider building a gas-burning plant?
The secret lies in how the plans were made. At the highest levels, these plans involved Ontario Power Generation and the Ontario government, multi-billion dollar gas-seller TransCanada Inc., and billion dollar investors Royal Bank and the Canada Pension Plan. When the board of OPG voted to partner in this project, members included Chairman Jake Epp, who had just moved over from his role as Senior VP of TransCanada, and George Lewis, Chairman of RBC Asset Management. The prime objective of this project is to make lots and lots of money.
Now I realize that these are some heavy players. They may have made the decision in good faith, using standard financial tools to evaluate the project, and using the best technology to reduce the levels of emissions. But ultimately, this is the wrong decision made for the wrong reasons.
There are 6 million people in the Greater Toronto Area.
How many have to say NO to make this stop?
© Copyright 2006 Glenn Stewart Coles
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