Super Dupe-er

            10-29-20 The Los Angeles Times headlined: Pebble Mine developer promised riches, but expects $1.5-billion subsidy from Alaskans (Richard Read). The story is full of the to-be-expected tales of political intrigue, corruption and environmental concerns that Ohioans have become accustomed to, locally with Larry Householder and HB6. But there is another aspect of the LA Times article which strikes closer to the heart of what is taking place in downtown Newark, something which informs analogously. It is important to note that, before diving into the unseemly details of all the intrigue, corruption, and environmental gore, Read does lay out the facts (guileful as they may be). “The company seeking to develop Pebble Mine in the headwaters of Bristol Bay has long promised that the controversial project would bring Alaska jobs, economic growth and tax revenue. But newly released undercover videos made by an environmental advocacy group show that Northern Dynasty Minerals Ltd. expects a massive state subsidy for the giant mine. In the recording, Ronald Thiessen, the chief executive, tells environmental activists — who are posing as potential investors — that the company plans to raise $4 billion from investors and secure another $1.5 billion from the state. He also says that if a federal permit under the Clean Water Act is denied for the copper and gold mine, his company will try to claim hundreds of millions of dollars in compensation from the U.S. government. “In our view it’s a ‘taking,’ an expropriation,” Thiessen says. “And if it’s determined to be a taking by the courts, we expect compensation.” The recordings were released Thursday by the Environmental Investigation Agency, which made them in August and September by duping company executives.” Two days prior the LA Times article Kent Mallett, for the Advocate, headlined: NDP leaders hopeful Arcade restoration project can secure ‘critical’ tax credits (10-27-20) which was a practically verbatim article written by him and published on 6-29-20 (Arcade renovation project could cost $15 million, needs tax credits). Along with the to-be-expected falderal of Arcade history, what is being uncovered, etc., both articles include the somewhat official looking economic details of projected sources of income (apartments and store/office rental) as well as the projected cost ($15 million). Neither story provides the crucial tax payer investment – the amount of the projected tax credit, without which all the Newark Development Partners (and city) become quite anxious for the fate of the white elephant they may have forced Tom Cotton to sell. An oversight on the part of Mr. Mallett? Doubtful. It is sad that Borat style guile would be needed to reveal the amount that the NDP is anticipating. Like the Pebble Mine enterprise, the Arcade project is relying on tax payer investment in the form of tax credits (money paid to the owner/developers – NDP). Northern Dynasty Minerals Ltd. anticipates tax payer investment to be approximately 27+% of the total needed. The same percentage calculated on NDP’s Arcade project would yield around $4+ million. Will we ever know? Will someone need to be duped to find out? Given the ditto articles by The Advocate (almost exactly 4 months apart), is someone perhaps already being duped?

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