Thursday, March 25, 2010
Tuesday, March 9, 2010
Letter to Premier Campbell Regarding His Legacy and the Purchase of Western Forest Products Land
Greetings Premier Campbell,
Whether you fight the next election, or not, it's never too soon to start thinking about your legacy: Will you be known as the premier who couldn't find the money to preserve a forest in perpetuity, but had $458 million to spend on a new roof for a sports stadium?
Or will you be remembered as the man who had the wisdom and grace to admit his government made a mistake regarding the Western Forest Products lands, and took innovative steps to rectify his error?
You and your government are not very popular right now, but enabling the purchase of the WFP lands would certainly enhance your image. Here's how to do it: 1) Immediately provides funds to UBC to purchase, and establish an experimental forest on, all 12,000 hectares of WFP land. (Perhaps one day to be known as the Gordon M. Campbell-UBC Experimental Forest?)
2) Raise the funds by issuing special 'B.C. Green Bonds' (Don't let the fact that the NDP has previously suggested using them to raise money for green projects; I'm sure they would support this initiative.) At a respectable rate of interest (between 3 and 4%), available in denominations as low as $50 (so that even those on relatively low incomes can participate); at a time when many investors are wary of the stock market and would welcome a safe and laudatory place to put their money; and because the funds would be dedicated to a cause about which many people in B.C. care deeply, it should be relatively easy to raise the approximately $100 million needed to purchase the 12,000 hectares of threatened lands.
The advantage of raising funds in this fashion is that, while B.C. Green Bonds would be debt, they would be the most useful kind of debt, creating a win-win situation for B.C. residents. We benefit, on the one hand, as investors (interest on the bonds), and on the other, as taxpayers (the acquisition and preservation of priceless forest and tidal habitats). In effect, we transfer our money from one pocket to another, and in the process, save a magnificent tract of land while making a modest income from our investment.
I'm sorry to have to mention it, but there is a question of trust where your government is concerned. To address the fact that many people in B.C. no longer believe that you will do what you say you will do, B.C. Green Bonds should have the following safeguards: 1) for sale to B.C. residents only; 2) sold through the province's credit unions; 3) to ensure that the funds are not swallowed up in general revenues, proceeds to be deposited in a special account at one of the province's credit unions, and to be disbursed therefrom to purchase the land; 4) if demand is vigorous enough, to expand the fund to purchase other endangered habitats.
But Premier, you must act quickly. The lands in question are being brutally logged as I write. You must stop the logging, and the sale of the land for real estate development, immediately (I'm sure a word to Stephen Frasher, CEO of Western Forest Products would do it) preparatory to your taking another visionary step (greater even than saving the Flathead Valley, because the people of B.C. could participate directly in partnership with you), for the lasting benefit of present and future generations.
Whether you fight the next election, or not, it's never too soon to start thinking about your legacy: Will you be known as the premier who couldn't find the money to preserve a forest in perpetuity, but had $458 million to spend on a new roof for a sports stadium?
Or will you be remembered as the man who had the wisdom and grace to admit his government made a mistake regarding the Western Forest Products lands, and took innovative steps to rectify his error?
You and your government are not very popular right now, but enabling the purchase of the WFP lands would certainly enhance your image. Here's how to do it: 1) Immediately provides funds to UBC to purchase, and establish an experimental forest on, all 12,000 hectares of WFP land. (Perhaps one day to be known as the Gordon M. Campbell-UBC Experimental Forest?)
2) Raise the funds by issuing special 'B.C. Green Bonds' (Don't let the fact that the NDP has previously suggested using them to raise money for green projects; I'm sure they would support this initiative.) At a respectable rate of interest (between 3 and 4%), available in denominations as low as $50 (so that even those on relatively low incomes can participate); at a time when many investors are wary of the stock market and would welcome a safe and laudatory place to put their money; and because the funds would be dedicated to a cause about which many people in B.C. care deeply, it should be relatively easy to raise the approximately $100 million needed to purchase the 12,000 hectares of threatened lands.
The advantage of raising funds in this fashion is that, while B.C. Green Bonds would be debt, they would be the most useful kind of debt, creating a win-win situation for B.C. residents. We benefit, on the one hand, as investors (interest on the bonds), and on the other, as taxpayers (the acquisition and preservation of priceless forest and tidal habitats). In effect, we transfer our money from one pocket to another, and in the process, save a magnificent tract of land while making a modest income from our investment.
I'm sorry to have to mention it, but there is a question of trust where your government is concerned. To address the fact that many people in B.C. no longer believe that you will do what you say you will do, B.C. Green Bonds should have the following safeguards: 1) for sale to B.C. residents only; 2) sold through the province's credit unions; 3) to ensure that the funds are not swallowed up in general revenues, proceeds to be deposited in a special account at one of the province's credit unions, and to be disbursed therefrom to purchase the land; 4) if demand is vigorous enough, to expand the fund to purchase other endangered habitats.
But Premier, you must act quickly. The lands in question are being brutally logged as I write. You must stop the logging, and the sale of the land for real estate development, immediately (I'm sure a word to Stephen Frasher, CEO of Western Forest Products would do it) preparatory to your taking another visionary step (greater even than saving the Flathead Valley, because the people of B.C. could participate directly in partnership with you), for the lasting benefit of present and future generations.
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