RE: Chevron deal positive for the industry That article makes it all sound great . But no where have I seen it mentioned in the press that the province of BC is about to elect an NDP government in May of 2013 . If you check out the NDP website their energy policy is for higher royalties , windfall taxes and a fracking review , which usually means a moratorium . I think EnCana and EOG finally realised they won't make any money ever under an NDP government . So they have to wait until either they can resolve all royalty , tax and fracturing issues with the new government ( the one that gets elected in May 2013 ) , or wait until May 2017 when the government may or may not change . It depends upon how bad the economy of BC implodes .
The press are woefully ignorant of the impending change of government . I don't know what Chevron and Apache are thinking . Maybe they are willing to wait until there is clarity , which you really can't the way things run in this province . I think Chevron will set back the timeline of the project and do a thorough review . I also think they must have clauses in the deal thet make payment contingent on the continuation of the project .
regards
G