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Fortis Inc
Symbol FTS
Shares Issued 277,479,512
Close 2015-04-09 C$ 39.60
Market Cap C$ 10,988,188,675
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Van Sun says FortisBC caught up in Squamish controversy

2015-04-09 06:53 ET - In the News

The Vancouver Sun reports in its Thursday edition opponents of the proposed Woodfibre LNG plant marched through Squamish on Sunday protesting against the plan. The Sun's Brian Morton writes despite the promise of jobs, critics believe the future of Squamish is largely in tourism and outdoor recreation, and that Woodfibre LNG's alleged negative environmental impacts do not square with that. The issue has the potential to divide the Squamish First Nation, after individual members helped organize Sunday's protest march despite the band not yet taking an official position. As well, critics are angry that by backing Woodfibre LNG, British Columbia is cozying up to Indonesian billionaire Sukanto Tanoto, considered by many to be one of the planet's worst environmental plunderers after his logging company, APRIL, cut down swaths of Indonesia's rainforests. Mr. Tanoto owns Pacific Oil and Gas Ltd., of which Woodfibre LNG is a subsidiary. Squamish council recently rejected an application by FortisBC to study the feasibility for a natural gas export pipeline by drilling five holes in the Squamish estuary; council passed a revised motion Tuesday allowing FortisBC to reapply for a testing permit for just two bore holes.

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