Sinking Funds

If these goofs would bother to examine the history Port Nelson, it failed as a port because the river silted in almost as fast as it could be dredged. Even with dredging, ships could only dock at high tide. But there’s no limit to the futile experiments you can fund when taxpayers are on the hook.

Construction started but was marred by building challenges due to violent winter storms that beached supply ships and badly damaged the dredge used to deepen the waters around the port.

By 1918, the project was abandoned.

Lore sees using modern technology at Port Nelson including dredging or extending a floating wharf to overcome the challenges that stopped the project from proceeding more than a century ago.

6 Replies to “Sinking Funds”

  1. My kids were friends with a really nice, and smart couple of kids, middle school boy and slightly younger sister … and I got to know the parents … who were really nice people too. They lived in one of the nicest homes in my already pricey neighborhood. What did HE do to afford that top end lifestyle? He was a geotech. Engineer, who owned his own company.

    His company had ONE client that provided 90% of his work/revenue … the Port of Oakland. All he did was sample and test ALL the dredge material scooped off the bottom of the SF Bay and dumped out by the Farallon islands.

    It was a very, very, good gig. A neverending gig that supported his family in the lap of luxury.

  2. As soon as I read it, all that came to mind was some company looking to rake in millions of govt graft by selling some pie in the sky project to some dimwitted (or corrupt) bureaucrats and politicians. Free money from the sucker born every minute crowd (Canadian taxpayers).

  3. When First Nations decide to build one of these multi-billion dollar projects, where does the money come from?
    Are these FN’s such good business men/persons they have budgeted for these projects over the last few decades, or do they get financial backing from the Canadian taxpayer to the tune of “they can’t lose”?
    Does anyone in Canada even have the icebreakers to keep the port open for a short period longer than 3 months? Or is that another boondoggle in the making?
    And my last question; will PM Carney approve THIS pipeline?

    Surely not.

  4. “There is absolutely a business case for sending our LNG directly to European markets rather than sending our natural gas down to the Gulf Coast and having them liquefy it and ship it over,” Lore said. “It’s in Canada’s interest to do this.”

    How can there be a business case for this and not a business case for shipping LNG from the west coast? Is the business case actually getting the government contracts?

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