UPDATED Nalcor Energy, Fasken Martineau, PC Party of NL

UPDATED

After going through the records again, two further donations were found in 2007 by the Fasken Martineau firm. One was from Garfield Emerson for $1,000.00 to the PCs, and one was from a Fasken Martineau subsidiary named FMD Ontario Inc., Toronto, for $5,000.00 to the PCs. Which brings the totals for Fasken Martineau partners and companies up to $45,650.00.

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Sometimes it's painful to do investigative work on the workings of our government in this province. It's painful because, no matter your political bent, you want to believe that things like greed and corruption are things that happen elsewhere, and not here. You want to believe that people in office have some standard of conduct, and it's just those with an ax to grind that throw mud at essentially good people. Then there is the reality - it's worse than we could possibly imagine. This post covers such a case.

Fasken Martineau (FM) first appeared on the Newfoundland and Labrador political donation scene in 2002, while the Liberals were in power. They made a one-time donation to the Liberal Party of $2,850. FM was involved with some minor contractual issues then respecting Newfoundland and Labrador Hydro, but nothing significant.

Then, in 2007, thing started to change. The Williams government began ramping up its strategic battle with Hydro Quebec - including numerous amendments to the Electrical Power Control Act. It was a very busy time. Concurrently, FM reentered the province's political scene. It was an election year, and suddenly a group of Quebecers became very interested in contributing to Newfoundland and Labrador politics, but only to one party - the PC Party. Now, the blog Labradore brought some attention to this at the time in a general sense, which included a comment from Danny Williams, then Leader of the Official Opposition, to the governing Liberal Party:

" Do you think it is appropriate that you should solicit and accept donations from someone with whom you are entering into negotiations to deal away the resources of this Province? Is that a conflict of interest? Do you see anything wrong with that? Because the people of Newfoundland certainly do."

Apparently times change, and with them values. The PC Party under Williams began accepting political donations, including direct general election contributions, not from the law firm of FM, but from its partners. At that time, and remaining the same today, corporate political donations in Quebec were banned. You had to be a registered voter in Quebec to make a political donation, and it had to go through a registered Party agent in Quebec. In any case, 2007 saw six partners of FM from the Montreal office make political donations to the PC Party:

Sylvie Bourdeau                 $ 500.00
Karl Dewaide                    $ 500.00
David Lemieux                  $ 500.00  (GE)  (Now with Norton Rose Montreal)
Xeno Martis                      $1000.00 (GE)
Allan Ranger                      $ 500.00  (GE)
Andre Turmel                    $1000.00  (GE)

Then in 2008 a similar occurrence:

David Lemieux                  $ 450.00
Xeno Martis                      $ 900.00
Robert Pare                      $ 900.00
Daniele Picotte                  $ 900.00
Allan Ranger                     $ 450.00
Andre Turmel                   $ 900.00

Just a note at this point. You will notice by these two years of donations that certain partners consistently make higher donations than others.

In 2009, and 2010 the donation pattern switched to corporate donations, with no partner donations to the PC Party:

2009 - Fasken Martineau  (Montreal)  $10,200.00

2010 - Fasken Martineau  (Montreal)  $  9,500.00

Then, in 2011, there were no donations by either FM or its partners. In 2012, the old pattern of donations resumed where the firm did not make donations to the PC Party, but the partners did:

2012
Pierre-Olivier Charlebois         $    500.00
Andre Durocher                      $ 1,500.00
Ron Ezekiel                             $    500.00
Helmut K. Johannesen             $    500.00
Xeno Martis                            $ 1,500.00
Angela Onesi                           $    500.00
Daniel Picotte                          $ 1,500.00
Allan Ranger                           $ 1,500.00
Andre Turmel                         $ 3,450.00

The 2013 numbers are not public yet, and Elections Newfoundland and Labrador has not answered my email inquiring as to the date they may be released.

Here are the partners from FM involved with these donations:

To be clear, I have made written requests to FM, the PC Party of NL, and the Government of NL, Nalcor Energy and have not received any responses. I asked them to comment on the political donations. Here's why.

FM has been retained by Nalcor Energy for legal services. Not just any legal services, but the legal services surrounding the Lower Churchill project. The individual details of this service are confidential, but some parts are available for the public. Take this declassified confidential report from Nalcor regarding "3rd Party Vendors as of September 30, 2011:

This report states that Nalcor hired FM for: "Legal Services - strategic, Quebec regulatory, water management, Quebec civil, Ontario regulatory, PPA" and that it received from Nalcor for:

Muskrat Falls                   $1,111,174.23;

Labrador Island              $2,477,105.14; and 

Transmission Link

Total                              $3,588,279.37.

That was as of  the September, 2011. Then there was this: 

http://www.fasken.com/en/5-billion-muskrat-falls-hydroelectric-generating-facility-and-the-labrador-island-transmission-link-projects-reach-financial-close/ 

FM was the chosen law firm for the federal loan guarantee of $5 billion dollars for the Muskrat Falls project. The details of that contract have not been released by the government. However, it is interesting to note that Guy Giorno, of http://www.fasken.com/guy-giorno/ , former Chief of Staff to Stephen Harper until 2010, belongs to the same firm that is donating to the provincial government.

 Giorno most recently acted as counsel for Nigel Wright during the Senate expense scandal allegations 

http://www.huffingtonpost.ca/2013/06/03/guy-giorno-harpers-former_n_3378099.html and has just been announced as new legal counsel for the Conservative Party of Canada:

http://www.thestar.com/news/canada/2014/02/10/guy_giorno_tapped_as_conservatives_legal_adviser.html

To top things off, we have Jacques Audette, a partner at FM being arrested by the Quebec anti-corruption squad   http://www.canadianlawyermag.com/legalfeeds/804/Faskens-Montreal-partner-arrested.html in April 2012. 

Given the evidence that is in the public domain, it is clear and obvious that the law firm of Fasken Martineau (Montreal Office), and its partner were funneling political donations to the PC Party of Newfoundland and Labrador. It is clear they were under contract with Nalcor while doing so. It is clear they advised Nalcor on the water management agreement, and other issues solely relating to Muskrat Falls and the Lower Churchill. It is clear that conditions of the original loan guarantee, requiring no litigation be impending or undergoing regarding the Lower Churchill project be active, were tossed to the side when Stephen Harper suddenly agreed to wave all those conditions that would protect tax payers from massive losses from a Hydro-Quebec lawsuit (currently underway in Quebec) despite at least five separate lawsuits pending against the project. It is clear that Giorno is a very close confident of the Prime Minister. 

All these things are very clear and supported by evidence. What are the conclusions an average person could come to given these facts? 

1.   Fasken Martineau, and its partners were rewarding the PC Party of Newfoundland and Labrador for contracts they had secured with Nalcor Energy. It defies imagination the FM and/or a series of their partners in Montreal, Quebec, would suddenly become so enamored with a PC Party in Newfoundland and Labrador that they would donate to it while having contracts with the government, but not before that. The facts show a structured and repetitive donation schedule between partners that remains consistent to this day - or at least until the last released reports of 2012. Rewarding public officials or political parties for doing business with the government is a criminal offense http://quesnelnews.com/ethics_criminal_code_handout.pdf

An investigation is required by the RCMP as to the seriousness of these contributions, but the evidence available publicly points to this.

2.   The PC Party accepted political donations from FM under these circumstances, and is subject to the same conclusion, and also requires an RCMP investigation.

3.  Perhaps most disturbing, although that is saying something, is the connection between the Prime Minister's Office, FM, Nalcor, the PC government of the province, and the loan guarantee. Given the sudden dropping of the lawsuit-free requirement of the original terms for the loan guarantee, and the sudden dropping of them by Stephen Harper (defying all logic and reasoning), and given the fact that FM was hired by Nalcor to deal with the water management agreement and the loan guarantee, the issue begs the question: Was the PMO influenced by Fasken Martineau partner, and now Conservative Party of Canada counsel Guy Giorno to drop the protection of the original terms of the loan guarantee which protected taxpayers? Was that influence exercised by way of paid lobby by Nalcor Energy? The evidence points in that direction, but requires an RCMP investigation.

What is clear through all of this is despite the PC Party's stand against Quebec, and the federal government, they had no problem taking their money and influence/advice under the leadership of the guy who said:

 " Do you think it is appropriate that you should solicit and accept donations from someone with whom you are entering into negotiations to deal away the resources of this Province? Is that a conflict of interest? Do you see anything wrong with that? Because the people of Newfoundland certainly do."

Danny Williams, Leader of the Official Opposition, 2002.

Whatever Mr. Williams said, these circumstances have been filed with the Quebec anti-corruption squad, and will form the basis of a formal complaint to the RCMP.

Emera's Poison Chalice

The day Nova Scotia's Utility and Review Board (known as the URAB) handed down the best decision Emera could hope for on the Maritime Link, the Nova Scotia government handed them a grenade. Just as was the case when: Danny Williams announced the Muskrat Falls project, and on the same day North East Utilites of the US announced it was building a billion dollar power line from Quebec to the eastern US; and just like the day of the original URAB decision that granted conditional approval of the Maritime link, and on the same day Hydro-Quebec announced it was filing suit against CFLCo/Nalcor over illegally taking power from the Upper Churchill - the government of Nova Scotia rained on the Emera/Nalcor party.

The Nova Scotia government introduced a bill named "The Electrical Reform Act". What does "reform" mean? In this case it means deregulation for the electricity market in Nova Scotia, and that means an end to Emera's (through its subsidiary Nova Scotia Power) monopoly of power generation and distribution. That is a massive price to pay for a small amount of mega watts from this province.

To understand Emera's position you have to understand what Emera is and how it makes its money. Emera is the parent company of four primary businesses: Nova Scotia Power; Caribbean operations; Maine utility operations; and pipelines. In 2012, Emera made  $2.058 billion in revenues before expenses. They break down like this:

NOVA SCOTIA POWER               $1.237 billion

CARIBBEAN OPERATIONS          $  421 million

MAIN UTILITY OPERATIONS     $  205 million

PIPELINES                                  $   49 million

Basically, other some other odds and ends, that's it. Now revenue is revenue, but here is what they cleared from each in operations, before tax and other expenses:

NOVA SCOTIA POWER              $  703 million

CARIBBEAN OPERATIONS         $  151 million

MAIN UTILITY OPERATIONS    $    55 million

PIPELINES                                 $    35 million

Bottom line? Emera exists solely based on the monopoly it enjoyed in Nova Scotia. Consider that 60% of all Emera's revenue comes from Nova Scotia Power. Then consider a mind blowing 75% of its cash after operations money comes from Nova Scotia Power. The value of a utility monopoly starts to come into focus. Essentially, Emera should really be named Nova Scotia Power with a few subsidiaries.

Perhaps the biggest concern for Emera until now was its credit/debt situation. S&P downgraded both Emera and Nova Scotia Power's outlook from "stable" to "negative". The reason given in the media was the costs associated with moving away from coal generated power to "renewables". However, a look at the companies debt picture, in itself, should be a big clue. Emera's line of credit facilities have about a $600 million limit, of which about 50% is used up now. However, the big number is its contractual numbers. They include debt, and committed money to projects, suppliers, and the like. That number stands at a whopping $10.064 billion.

Then there are legal issues. It's operation in Maine is under attack for an excessively high "Return on Equity (ROE)" rate. For instance, Nalcor's ROE rate here is about 8.5. Nova Scotia Power's ROE is 9.2. Emera was just taken, by user watch dog groups, to FERC where there 11.14% ROE in Maine was ruled over the top, and had it reduced downward to an eventual 9.7%. Emera's operations in the Caribbean have been fraught with public protests over escalating rates. And now this.

Emera is going to lose its monopoly in the one place it can not afford to. The one place where it makes all its money to keep the whole operation afloat. That leaves the door wide open for Hydro-Quebec to move in with the 1000's of MW of power it can't even sell. If that happens, which you must consider a distinct possibility, then Emera is done for. It's likely future: takeover target (probably by Hydro-Quebec); and/or a takeover and break up of its assets for sale sale independently. Either way, Emera may have won the battle over the Maritime Link approval, but the cost of new regulation removing their monopoly is a real "poisoned chalice" indeed.

Muskrat Falls is a Done Deal

Those were the words I heard many times in the past from our former morning radio star, and current Mayor of Mount Pearl, Randy Simms. It's a done deal. Imagine, then, the surprise I felt when Randy, who also writes for the Telegram, came up with a story this weekend that Muskrat Falls is not a done deal. To be fair to Randy, many people around the province said the same thing. Half the time it was hard to decide if they were trying to convince you that further struggle was futile, or that they really believed nothing could stop it.

People who fought, and continue to fight, to stop the Muskrat Falls project were called "nay-sayers" or "known critics" by the government, and its mouth pieces. We were constantly referred to as "people without credibility". In Newfoundland "credibility" is code for the boy's club (the business/political backroom of the province) nod of approval. People who are "not credible" are not sanctioned and, therefore, akin to loose lipped fools - too stunned to understand the vision.

However, my education and experience gives me a whole different definition of "credible". Firstly, I try not to use the word, because it is judgmental and personal. Just because someone else has a different vision or understanding does not mean they are "not credible". To me, a person's ability to synthesize all aspects of the Muskrat Falls project, for instance, is necessary to have a "credible" opinion on the entire project - that doesn't mean they aren't a credible person.

Factors that need to be sorted through, and integrated with each other, are things like: international financial and energy trends; environmental impacts; proven science; domestic and inter-boundary demographics; Canadian and International law; provincial and corporate debt/capacities; sub sea line technology; overland line capacities; dam capacities; geology; previously existing contracts; and the list goes on. In the military we used to call it "factors that limit the objective". In other words, we have an idea, but what stands in our way from achieving it?

For two and a half years now I have been fighting the Muskrat Falls project: not out of spite as some have said; not because of personal vendettas; not to meddle; and not to be political. These are things I never evaluate anything on. They are small minded and petty. I have been fighting Muskrat Falls because from the beginning it struck me as not making sense.

The many reasons why it doesn't make sense can not all be listed here - that would take a book. The bottom line is it doesn't - albeit for different reasons than those that flagged the project to me in the beginning. So where does that leave the government - started as we are?

Well, where this government finds itself is exactly where the man whose brainchild this is left it on course to be when he scuttled out the door. Yes, this is all Danny Williams. It concerns me that frankly he put the gullible Kathy Dunderdale to take the fall for the inevitable failure while he smells like roses as the hero manager of a temporary hockey team. It may be his plan to escape the blame, but we are just as determined to remind people where the blame really lies. It's not personal. It's called responsibility to the public, that as premier, he screwed.

Now the proverbial rubber has hit the wall - the wall of reality. The PC government, Williams team, is stuck in guerrilla warfare. Dunderdale recently stated publicly that the PCs had planned for every contingency. Sorry, but that's simply not true. The legislation and laws put in place, like the Water Management Agreement are about to be blown apart. The coveted federal loan guarantee, necessary for financially downgraded Emera to raise capital is similarly doomed. It must be free of lawsuits and have all aboriginal issues settled before the feds will give the green light. Expiry date on that is December 31 - or about 2 1/2 months away. Law suits pending to date: five. Chance of settling any of them in one year: zero.

And so it goes. The nay-sayers, that small crowd of loud, non-credible, known critics have the boys club's pet project on the ropes. The boys club aren't admitting it yet, but here is one big clue: we are negotiating with Hydro-Quebec. Yep, the same folks who not more than a month or so ago Dunderdale and company were popping veins in their heads whilst they screamed such things as: revenge of the French.. well you get the idea. Necessity is the mother of invention, and a politician, and more importantly an entire boys club, will do almost anything, and talk to almost anyone, to avoid eating that much crow. Watch for Dunderdale and company to trade in some part the Old Harry oilfield to Quebec for some political accommodation on the Lower Churchill.

Here's the thing. What bothers me, poisons me to use a Newfoundland word, is how our so called "credible" group in St. John's can be so easily and obviously out flanked at every turn by Quebec and the feds - yet they refuse to listen to people who may know how to deal with these types. They are not just a danger to themselves, but to all of us present, and all of us in the future. They are so reckless, and clueless that they should have never passed the gate keepers watching the halls of power. Perhaps the gatekeepers are equally endowed.

In any case, here we are, checkmate. The new Hydro-Quebec loving premier in Nova Scotia will no doubt reopen the issue of the Maritime link, claiming the public good, and seeking "competitive" bids from Hydro-Quebec. Hydro-Quebec will likely offer Nova Scotia the complete package - a Power Purchase Agreement for all Nova Scotia's power needs - which Newfoundland and Labrador can not match. That will leave us with no market, a partially built project, and a void water management agreement ( without which Muskrat Falls dam can not run at more than 20% capacity on average). We will be in an even more disastrous place if we continue building the dam.

Of course, that's going to be kind of hard to do. It's hard to raise funds in a bond market or what have you while all those lawsuits sit there. That $2.5 billion we have sitting in short term investments has been waiting along time now for the rest of the money to show up. The lack of a federal loan guarantee will also create extreme difficulty in raising cash - hence the warning this month from the markets that our provincial government is on the verge of a downgrade in its credit rating.

When I started my lawsuit against this project one year ago, I wanted to out Hydro-Quebec now. Stop them from sitting back and waiting for us to cut our own throat over one man's ego, and then swoop in to take the pickings at pennies on the dollar. I know how they work, and this is how they work. With the Quebec government you need to understand but one thing - they don't care about you - they only care about themselves - period. To believe otherwise is foolish. To act otherwise is unforgivable.

So yes Randy, Muskrat Falls is not a done deal. It never was. If all the "credible" people in the St. John's boys club listened to those "not credible" types, perhaps you wouldn't be in the nightmare your mother warned you about. Perhaps you would have out flanked Quebec first. However, that would require knowing where your flank is.

Lies, Bribes, Harper and Dunderdale - the Evidence

On April 28, 2013, I wrote an article on whether or not the Innu people were bribed to vote for the New Dawn Agreement, which passage was necessary to allow the Muskrat Falls project to proceed. http://rocksolidpolitics.blogspot.ca/2013/04/were-innu-bribed-for-muskrat-falls-vote.html  Since that time the information contained in that post was forwarded to the Prime Minister's Office, the Attorney General of Canada, the head of the RCMP, the Quebec Corruption Commission, the World Bank Corruption Commission, the Swiss federal Police, and both leaders of the federal opposition parties. Yet nothing. It appears very likely that the Innu people were given a financial reward for voting in favour of the New Dawn Agreement, which violates federal laws on corruption and the federal elections act. The local RCMP in Goose Bay were informed of these payments a year ago. Those forwarding the information want a full blown RCMP investigation and forensic audit of both bands, the Innu Nation, and the Innu trusts. Yet nothing has happened.

I have decided to publish the actual minutes of both meetings where the $5000 payment was authorized, and where the children's trust fund was accessed to forward those payments as soon as possible with repayment of the fund coming later from a bank loan.



THE JULY 6, 2011 MINUTES

You probably noticed it was the Innu Nation, the group responsible for conducting the New Dawn Agreement referendum, that mere days after the agreement was approved by referendum wrote a letter to the trust for the $12.5 million payout at $5000 per man, woman, and child. You will also note the Bank of Montreal insisted on being renewed til 2017 as corporate trustee of the children's trust. The motion for the loan was made by Paul Rich, brother-in-law of disgraced former Innu Nation leader and MP Peter Penashue. It's most interesting to note that all the details of the loan had been arranged in advance of the conference call, and would imply the payout had been planned days in advance.


THE JULY 19, 2011 MINUTES

You will notice the urgency of getting that $5000 per person payout to the Innu people. So much urgency that less than 3 weeks after the New Dawn vote the Innu trustees voted to dip into the children's trust fund to get those funds out. It is unclear if such a withdrawal, even on a temporary basis, is even legal and in keeping with the terms of the trust.

You now see the evidence. You see who was involved. You know the time lines. Just a reminder, the New Dawn Agreement vote was held June 30, 2011. This must at a minimum be fully investigated by the RCMP, Elections Canada, Aboriginal Affairs, and a forensic audit conducted by the federal government. Future generations of Innu, and the rest of us in this province, are at least do that minimum of respect.

The Loan Guarantee: "WE GOT IT!"

Last week, in response to the Commissioners of the PUB refusing to endorse his Muskrat Falls project, Danny Williams released a statement. It was a rambling document that appeared to be crafted as a story as opposed to a straight forward personal statement. In case you missed it, here it is:

"News Release
April 3,2012

Williams disappointed by indecisive PUB report on Muskrat Falls development
Former Premier Danny Williams said today that he is both disappointed in and disturbed by the recently released Public Utilities Board (PUB) Report on the Muskrat Falls development. Williams said the inability of the PUB to reach a recommendation after 9 months and millions of dollars is unacceptable; and that past statements had already shown a bias against the project.
'When I read the report brought down by the PUB, I was deeply disappointed in the indecisive nature of the report; and more so I was troubled by the conclusions put forward by the board largely based on opinions of private citizens as opposed to the experts at Nalcor and Manitoba Hydro,' said Mr. Williams. 'Unfortunately, if you look back at the comments made by Board early in this process it became clear that opinions had already been formed. I have never before seen a quasi-judicial body make such negative and prejudicial statements in the middle of a review. It concerned me greatly at the time, but I had hoped those careless comments would not have carried over into the final report. Clearly, those opinions formed the basis of the final document as the board had backed itself into a corner several months ago with such strong statements.'
Williams went onto say that he still fully supports the Muskrat Falls development, and is troubled by some of the irresponsible commentary that has been put forward in the public domain - much of which appears to be held in high regard by the PUB in their review. While legitimate concerns and questions serve to bring about the best project possible, inaccuracies and fear mongering serve only to inhibit progress and future prosperity for the province.
'I have a serious concern that the PUB quotes extensively the personal opinions of former bureaucrats and academia, while ignoring the world-class experts at Nalcor,' added Williams. 'They even ignored their own hired experts at Manitoba Hydro. The team at Manitoba Hydro asked some responsible and appropriate questions in their review of the project, but ultimately confirmed the fact that Muskrat Falls is the least cost option. It makes absolutely no sense to me for the PUB to ignore the people at Nalcor who have the experience, the knowledge, and the education to make the right decisions. These professionals have absolutely nothing to gain by moving forward with a project that is not in the best interest of the province.'
Given the endorsement of the project by the Consumer Advocate, Manitoba Hydro (with conditions) and representatives from all political parties, the abdication of the PUB in making a recommendation is baffling, said Williams. 'I am concerned that perhaps the board wanted to wash their hands of any responsibility of this project in the very unlikely event that something goes wrong. The history of the Upper Churchill is a powerful force in this province and some people are just simply too fearful of the ghost of 'Churchill past' to move forward with what is a great project. But we must never fear making bold decisions for great rewards.'
Williams asserts that there has never been a better time in the history of the province to move forward with the development. 'The stars are aligned. We have in place the agreements with our Aboriginal partners; we have a federal loan guarantee worth up to a billion dollars; we have passed the environmental assessment; the world markets make financing the project very feasible; we have an agreement in place with our Atlantic Partners to circumvent Quebec; and we have an incredible opportunity to make Newfoundland and Labrador a province based on almost 100% clean, renewable energy. And the icing on the cake is that this project puts Newfoundland and Labrador in the energy business. We need this power and we need this project.' "

There you have it. A nasty, manipulative attack on the credibility of the Commissioners of the PUB from the former premier. This from the very man whose PC government appointed every one of the four Commissioners to the Board. From the man whose PC government placed the PUB in the position by tasking them with the job in the first place. A diatribe so flawed in its logic, and so spurious in its commentary that it requires challenging.

Firstly, the PUB did not ignore Nalcor, Manitoba Hydro, or its officials. In fact, evidence given by these groups is evident and referred to throughout the PUB's decision. So to accuse the PUB of :
"   ignoring the world-class experts at Nalcor,"added Williams."They even ignored their own hired experts at Manitoba Hydro." is in itself ignoring the facts and stating apparent falsehoods.

Secondly, to frame Nalcor as a "world class" organization is at best a dramatic overstatement. Manitoba Hydro itself pointed out that Nalcor was not even living up to NERC standards. That's North American industry standards - let alone world standards. Williams would also know that Nalcor's power generation assets, and particularly income from those assets, places Nalcor behind even regional companies like New Brunswick Power. So to call Nalcor a world class organization is a shameful attempt to fan Newfoundland nationalism for the purpose of getting his own way. There are plenty of things Newfoundlanders and Labradorians can be proud of without shamelessly exaggerating the status of a crown corporation like Nalcor.

Thirdly, Williams cites endorsements of the project by representatives of all political parties. A disingenuous statement if there ever was one. Both the Official Opposition Liberals and the Third Party NDP have come out against Muskrat Falls. During the last federal election federal parties supported the notion of the project, if it was economically and environmentally viable. The provincial parties, and their representatives are very publicly against it. Their votes in the House of Assembly are obviously more relevant than what their federal cousins might say in the pursuit of votes during an election. In so far as Manitoba Hydro goes, their report specifically states they came to their conclusions based on Nalcor's assumptions and they would not warrant the report to third parties. Again, more cherry picking of facts while dismissing or ignoring the facts.

Finally, and most shockingly, Williams states:

" we have a federal loan guarantee worth up to a billion dollars"

I found that little statement the most interesting of Williams commentary. Apparently, without the public of Newfoundland and Labrador knowing it, the provincial government has in fact secured a federal loan guarantee. Not only that, but the dollar figure of that guarantee is apparently up to $1 billion. When did that happen? Some questions I have on that little gem: 1) When was the loan guarantee granted and why was the public not informed?; 2) How did Williams know about it considering a short while ago he claimed not to be able to get the cellular numbers of ministers since his departure?; and 3) Why is the loan guarantee only "up to a billion dollars"?

A billion dollar loan guarantee would only cover 20% of the province's share of the Muskrat Falls project as currently envisioned. Has the project been scaled back, and the people not been informed of that? Has the project been revised to a dam only project with assorted transmission lines, but no sub-sea links, and therefore no power to the Island? If that were the case, the $1 billion loan guarantee might cover 25-30% of the estimated cost. I am somewhat at a loss to understand why the Newfoundland and Labrador media has not been asking the government and Mr Williams why he would make such a statement. Certainly, the fact this province has a loan guarantee in place for up to a billion dollars would be considered news by most.