FORT ST. JOHN, B.C. – While it still believes the economy of this province will be at or near the top of provincial growth charts this year and next, the BC Business Council is nevertheless cutting its B-C growth forecast.
It’s now predicting growth of two point seven percent this year, and two point six percent next year, and economist Ken Peacock says it’s the result of a more muted global economy, and the lack of progress toward the long forecast development of a BC Liquefied Natural Gas Industry.
However, that doesn’t play well with a government which promised a robust LNG industry prior to the last provincial election, and is now getting ready to face the electorate again next spring.
After promising 100 thousand jobs and a debt free BC in the 2013 election campaign, Natural Gas Minister Rich Coleman in speaking this week, with Jon McComb on CKNW, responded to critics, who suggest the Liberals have hoodwinked voters.
He argues that spending is already having a ripple impact in northern communities, and while the slump in world oil and gas prices has slowed things down the government expects a demand rebound.
He adds the feds. need to kick start the process with environmental approval for Kitimat’s stalled Pacific Northwest LNG project.
Mr. Coleman also believes while prices are now in the gutter — they’ll recover by the time the B-C plants are online.
You can listen to the full interview here.