Some of you have certainly heard of the Everett LNG import terminal in the Boston Harbour. There have been many worries about the LNG tankers that come right into the city with massive volumes of natural gas.
(click on pic. for bigger, clearer version)
That terminal, which has been running safely since 1971, used to be owned by Cabot. It was purchased by Tractebel (a Belgian power company owned by Suez, a French private utility) in september 2000.
Now Suez has announced its merger with GDF (Gaz de France), the 80% State-owned French natural gas utility, and it is expected that the French government will own about 35% (a blocking minority) of the merged entity.
Thus the French government will become the de facto owner of a highly sensitive facility right in the middle of a major US city.
Should you be worried?
- France is also an almost-enemy State, having run an active campaign against the US at the UN in the run up to the Iraq war and generally trying to put obstacles to US policies around the world;
- France is a quasi-Soviet state, dominated by protectionist, nationalist bureaucrats that have for sole competence that of extracting taxes from hapless companies and workers and channeling them lavishly to farmers and unemployed;
- France is almost an Arab state already, and will soon be run over by fundamentalist, rioting Arab youth;
- France, thorugh the new company, will become the biggest player in the Atlantic LNG market, controlling the main LNG terminal on the Eastern coast of the US and the terminal and gas hub in Europe (Zeebrugge in Belgium) - thus with an ability to manipulate prices on both sides of the Atlantic and to withhold vital supplies.