#environmet

| c a l l i n g |

"By the fifth day, listen, the shore shall answer to your pleas."

2hr speedpaint practice.

There are four major measures or concessions made by the BC government in the LNG Canada Agreement:

Discounted electricity prices: Through BC Hydro, LNG Canada’s facility will pay the much lower  industrial  rate  for  electricity  used  in  production.  The  value  of  this  subsidy  is  be-tween $32 million and $59 million per year

Exemptions from increases in the BC carbon tax: Any BC carbon tax above $30 per tonne of CO2 will be rebated for approved facilities that meet a greenhouse gas intensity bench-mark.  As  the  tax  will  be  $50  per  tonne  by  the  time  the  facility  opens,  this  tax  break  is  worth $62 million per year.

A corporate income tax break: A natural gas credit against corporate income tax has been created with the intent of lowering tax from the regular rate of 12 per cent to 9 per cent. Prevailing LNG prices suggest that very little income tax is likely to be declared in BC so it is difficult to estimate the value of this tax break.