WHEN YOU SAY THE WORDS "POINT OF NO RETURN," THAT *IS* THE SUNK COST FALLACY YOU ARE FALLING INTO RIGHT THERE.
Can we have this on a billboard near the BC Legislature?
time.com/5347133/sunk-c…
#SiteC #bcpoli #BCelxn2020
Even if there *were* such a thing as point of no return, this wouldn't be it. The dam itself, the wall, hasn't even been started at #SiteC. About $5.5bn has been spent, much of it coping with mud. The budget is estimated at $12bn now but most think it'll be far more than that.
The cost of alternatives is below $7bn and plummeting daily. By the time we need electricity it'll have dropped far further. (But we don't need electricity right now, period, as BC has a surplus & is paying IPPs not to produce.)
We need to cut our losses now.
#SiteC #bcpoli
..The reason why ~$5.5bn has already been spent on #SiteC even though they haven't made much headway in construction, & why thye've almost burned through the project's entire contingency fund years before completion date, is not just the usual megaproject mismgmt. It's the mud.
The diversion of the river for #SiteC was delayed a year already (cost: nearly $1bn) because the two ~1km-long river diversion tunnels bored through unstable shale kept failing, & a $$$$$$ 2-metre thick lining of concrete had to be poured into each of them at our expense
..the whole North (left) bank at #SiteC was so unstable that they had to keep shaving it back (remember the massive tension crack that showed up there a couple years ago) at a massive cost to us. An unimaginable weight in top layers and shale trucked away. The diesel, the hours..
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.