Thursday, January 08, 2009

Seymour Schulich who looks a lot more relaxed in Western attire then some suggests our Federal Government start a few mega projects and the Lower Churchill Hydro Development should be one of them.

From VOCM today:

Business Billionaire Says Develop Lower Churchill Now
January 8, 2009

One of Canada's most successful and influential business leaders believes now is the time to get the Lower Churchill Hydro Development started. Billionaire Seymour Schulich of Toronto says there is no doubt that the economy in Canada, and around the world, is in tough shape so it is extremely important that the Federal Government get some mega projects under construction around the country. He says this includes the Lower Churchill Hydro Development. Schulich says the sudden downturn in the economy in recent months is destroying some energy projects that take 5 to 7 years to build, so when the demand does pick up there will be enormous shortages. He suggests if this happens the price levels on the next cycle will make past levels pale by comparison. Schulich says it could mean 300-dollars U.S. for oil; 50-dollars U.S. for nickel; and 10-dollars U.S. for copper.

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