"For much of the state of Maine, the environment is the economy"
2010 Aug — Lost its financial backer, GS Power Holdings (owned by Goldman Sachs).
2010 Sep — Lost its option to purchase the bulk of the site needed for the project's terminal.
2011 Jun or Jul — Abandoned its office space in downtown Calais.
Arthur Gelber, of Calais LNG Project Company —
"… Maine could actually own and finance such a [natural gas] pipeline at a more advantageous rate than industry. … Governor, I would like to arrange a meeting with you and my team, along with the Commissioner for Transportation and the head of the Turnpike Authority, to discuss a natural gas pipeline traversing the Maine Energy Corridors as a more viable and less predatory alternative to [Maritimes & Northeast Pipeline]."
Calais LNG letter to Maine Governor John Baldacci, 2010 Aug 12 (PDF; 52 KB).
Webmaster’s Comments: On the day after Calais LNG was supposed to — but did not — have a new investor after financial powerhouse Goldman Sachs deserted the project, Calais LNG asked the Governor of Maine to pay for and own a new 343-mile natural gas pipeline from Calais to Boston, rather than expand the existing Maritimes & Northeast Pipeline (M&NE) or have private enterprise build and own it.
There are 343 miles of M&NE natural gas pipeline from Baileyville to Boston*. At $2 million per mile, Calais LNG wants around $686 million from Maine taxpayers to help out an unneeded and unviable project.
"Total US natural gas reserves are now estimated to cover more than a 100 years of demand." [Bold emphasis added.]
"Global Economics Paper No: 194 — Commodity Prices and Volatility: Old Answers to New Questions," 2010 Mar 30, page 19 (PDF file; 1.9 MB).
Webmaster’s Comments: The date of the above quote is about the same time that GS Power Holdings (a totally-owned subsidiary of Goldman Sachs) deserted Calais LNG. Goldman Sachs' observation — backed up by swallowing millions in financial losses in the project — spells defeat for Downeast LNG, as well.
Goldman Sachs Group, financial partner in Calais LNG Project Co.
“The strong U.S. natural gas supply growth suggests that incremental LNG imports into the U.S. will no longer be necessary for U.S. inventories to reach comfortable levels”
"Natural gas prices may be Down" Purchasing.com, 2008 Sep 11.
Ian Emergy,of Calais LNG Project Company, in response to Save Passamaquoddy Bay/Canada’s Aug 20 annual meeting in which Member of Parliament and Cabinet Greg Thompson once again emphatically stated that Canada will not allow LNG ships into Passamaquoddy Bay, Ian Emery stated
“It's really time to sit down and talk about this. We have an American and a Canadian flag hanging in front of the office. We are open and genuine. We could help them work on the new study. This could benefit both sides of the border.”
“We are not the big bad wolf here and we will hear what the Canadians are saying. We want to be engaged with the Canadian Government, with Ottawa, and with the people of New Brunswick.
“Canada is our friend. New Brunswick is our friend.
“We need to do things together that will bring the project forward. They need to know what the benefits are and what the consequences can be.”
“Calais LNG reacts to Canadian Head Harbour stance,” The Calais Advertiser, 2008 Aug 28 (story is not available online).
Webmaster's Comments: Apparently, hearing “NO!” repeatedly coming from the Canadian government “doesn’t count” in “hearing what the Canadians are saying” in Ian Emery’s one-way international love-fest.
Calais LNG’s behavior is unsettlingly and repeatedly like that of a stalker!