Vladimir Putin

Tobin, The Honourable Brian

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An issue that should concern all Canadians: why the Churchill Falls agreement must be re-negotiated. Three things to realise about the agreement: it was arrived at in an unfair way; Hydro-Quebec has reaped unconscionable windfall profits; the Churchill Falls project is not viable under the current agreement. An explanation of how it was that the Churchill Falls agreement was arrived at in an unfair way; how geography made that possible. The "insane" nature of the 65-year agreement. Some figures to illustrate how Hydro-Quebec has benefitted from the agreement; an illustration of the profits that are "immense and unconscionable." How the agreement is a significant and fundamental injustice, particularly for Newfoundland and Labrador. How the situation will become worse if there is no re-negotiation. The "Statement of Intent Regarding Churchill Falls Negotiations" signed by Hydro-Quebec and Newfoundland and Labrador in 1984. A recognition in that Statement of "a fair and equitable return to Newfoundland as the owner of the Churchill Falls resource." What happened to this statement of intent. Profit figures for Hydro-Quebec. Working together in good faith.

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