The proposed Site C mega-dam in the Peace River Valley does not make economic sense. With thousands of unsafe and deteriorating dams around the world to address, building new dams is a step in the wrong direction. If built, Site C would leave a legacy of wealth destruction in the Peace River Valley.
The proposed Site C mega-project has been proposed three times so far, starting in 1970. The first two times it was shot down due to unsound economic reasons. And today, in the third proposal, it still does not make economic sense.
Dan Potts, the former executive director of the Associate of Major Power Customers of BC, said that “Building the dam is the equivalent of turning gold into lead.”
Experts estimate it will burden taxpayers at least $8 billion of debt–maybe double or triple that if there are large project cost increases, a common occurrence according to the World Bank.