The Globe and Mail reports in its Wednesday edition that in the past decade, Canada's provincially owned hydroelectric utilities have sold vainglorious politicians on more than $50-billion in unnecessary dam and transmission projects.
The Globe's Konrad Yakabuski writes that from the Muskrat Falls project in Newfoundland to the Keeyask dam in Manitoba and Romaine River in Quebec, the Canadian landscape is now blighted by big hydro projects that would never have seen the light of day had they been subject to independent and transparent analysis.
Sharply higher electricity rates result as these projects come on stream. There is still time, however, to pull the plug on British Columbia's Site C hydro project before it ends up joining this trio of white elephants.
Yes, halting construction on Site C would still leave B.C. taxpayers on the hook for several billion dollars in sunk costs, without any electricity to show for it. However, killing the project remains the least costly option facing the province. Borrowing billions more to complete the project would make an already bad situation worse.
The evidence says that this project is headed in the wrong direction and there is no reasonable prospect of turning it around.
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