The primary goal of this site is to provide mature, meaningful discussion about the Vancouver Canucks. However, we all need a break some time so this forum is basically for anything off-topic, off the wall, or to just get something off your chest! This forum is named after poster Creeper, who passed away in July of 2011 and was a long time member of the Canucks message board community.
Since no risk can be properly quantified, should we have no new development?
Oil tankers have been around since the mid to late 1800's, not only on the Pacific Ocean but around the world so there is a wealth of data insurers can use to access the risk and price the project...
What they need now is a consortium of players to work thru the various steps to learn if the project is viable or worth taking on....
Agreed !
I just insist that the operational risks, like the construction costs, be fully privatized. The B.C. government, and the insurance company, have a hand on the off switch if the premiums lapse, or the conditions of insurance are no longer met.
I think those risks are greater than most here seem to, but I'm willing to believe the actuaries who calculate it for a living -- once it's clear exactly how big the payout would need to be.
I predict that at that point, all the pipeline companies walk away, but I could see Smith offering to carry the insurance policy.
Since no risk can be properly quantified, should we have no new development?
Oil tankers have been around since the mid to late 1800's, not only on the Pacific Ocean but around the world so there is a wealth of data insurers can use to access the risk and price the project...
What they need now is a consortium of players to work thru the various steps to learn if the project is viable or worth taking on....
Agreed !
I just insist that the operational risks, like the construction costs, be fully privatized. The B.C. government, and the insurance company, have a hand on the off switch if the premiums lapse, or the conditions of insurance are no longer met.
I think those risks are greater than most here seem to, but I'm willing to believe the actuaries who calculate it for a living -- once it's clear exactly how big the payout would need to be.
I predict that at that point, all the pipeline companies walk away, but I could see Smith offering to carry the insurance policy.
He put it better than I did;
“We’re baking the cake,” Tim Hodgson told POLITICO on Friday from British Columbia. “We’re just buying the ingredients right now. Let’s not opine on how the cake tastes till it’s a little bit further baked.”
Wasting our time fretting over what if's or taking the glass is half empty point of view....
I think those risks are greater than most here seem to, but I'm willing to believe the actuaries who calculate it for a living -- once it's clear exactly how big the payout would need to be
Insurance in its simplest form is a money in, money out business...the more the company pays out in claims the more it charges for its policies...
Once they see the proposal, they will price it according to the risk ...
Major events have become less and less because of improved ship building and technology...
That 2016 incident was the most recent and like a large percentage of historical events involved sleeping on the job...
And reading the article in the Globe today, there is no certainty that it will be shipped out of the north ...
rikster wrote: ↑Mon Dec 01, 2025 11:01 am
He put it better than I did;
“We’re baking the cake,” Tim Hodgson told POLITICO on Friday from British Columbia. “We’re just buying the ingredients right now. Let’s not opine on how the cake tastes till it’s a little bit further baked.”
Wasting our time fretting over what if's or taking the glass is half empty point of view....
"Buying the ingredients phase" is the right time to decide what flavour you want, and accommodate any food allergies. If I wait until the cake is baked, I could be stuck with a bad cake, and no way to return it.
What kind of operational insurance would be required is specifying an ingredient.
rikster wrote: ↑Mon Dec 01, 2025 11:01 am
And reading the article in the Globe today, there is no certainty that it will be shipped out of the north ...
That alone would address a significant proportion of the objections.
I've heard rumblings that the Trans-mountain pipeline will be further expanded, in lieu of a northern pipeline. It makes more sense in that there is already a pipeline in place and it would be much easier from a regulation and approval standpoint than to build a pipeline in northern BC.
I've heard from a friend who is in the oil business, that the reason the current pipeline isn't at 100% capacity is because the cost to private companies to send oil through the pipeline is high (government charging too much). He thinks that if a private company takes on a trans-mountain expansion, the prices of sending oil through it will be reduced and therefore it will reach 100% capacity fairly quickly.
Whale Oil Beef Hooked
"When you come to a fork in the road, take it" - Yogi Berra
BCExpat wrote: ↑Mon Dec 01, 2025 12:57 pm
I've heard rumblings that the Trans-mountain pipeline will be further expanded, in lieu of a northern pipeline.
A better plan on many levels, if the actual objective is getting more of Alberta's product to market.
I'd also really welcome at least an analysis of the potential opportunities for a pipeline to Churchill.
TMX gets an additional 400,000 barrels as part of the deal.
For reference, current tanker protocols out of Westbridge terminal.
Daylight transit only, 120,000 tonne capacity with a probable load of 80%
- 2 tugs connected , 1 fore, 1 aft, a 3rd tug guiding and two pilots on the bridge out past the 2nd Narrows
- 2 tugs connected and 2 pilots on the bridge out past the 1st Narrows
- 1 tug connected, 2 pilots on the bridge to east end of Saturna
- 1 tug connected, 1 tug escort, 2 pilots of the bridge from east end of Saturna to Race Rocks SW of Victoria
Company I used to work for had a fleet of bulk carriers for its mines and tankers for it's oil production. They looked at what they were paying in Maritime insurance then went out and bought the largest maritime insurer.
Over the Internet, you can pretend to be anyone or anything.
I'm amazed that so many people choose to be complete twats.
BCExpat wrote: ↑Mon Dec 01, 2025 12:57 pm
I've heard rumblings that the Trans-mountain pipeline will be further expanded, in lieu of a northern pipeline.
I'd also really welcome at least an analysis of the potential opportunities for a pipeline to Churchill.
I agree
Whale Oil Beef Hooked
"When you come to a fork in the road, take it" - Yogi Berra
The BC courts can affirm whatever they want with regards to UNDRIP, but unfortunately for them, it is not their jurisdiction - it is the federal government's jurisdiction. They have the final say on whether the pipeline goes through or not. If you want any context to that, see what happened with the TMX when first nations opposed the project - it still got built.
Whale Oil Beef Hooked
"When you come to a fork in the road, take it" - Yogi Berra
Theyll need new trucks, rec centers and houses first
And these gifts will turn to shit in short time due to disregard to upkeep and maintenance and general lack of giving a shit because they keep getting handed freebies and for that can’t develop any iota of pride in ownership
