Alaska Moves Forward on Pipeline Project

July 10, 2014 at 4:54 pm  •  Posted in Oil and Gas  •  0 Comments

Legislators in Alaska approved a pipeline bill that could potentially bring the state $4 billion in revenues. The legislation would position the state to partner with TransCanada and the oil industry to build a gas pipeline, but opponents say the deal is tenuous at best. Alaskans should “temper our expectations,” said one representative.

The agreements reached by the Parnell administration with the major oil companies and TransCanada left little room for the Legislature to rewrite the terms, but House Resources Committee co-chair Eric Feige said the contracts to come will be monitored closely.

“It’s like we’re in the playoffs,” the Chickaloon Republican said. “It’s Alaska versus Kitimat, B.C. and the rest of the LNG projects under consideration worldwide. That’s who we’re competing against.

“We’re in the Red Zone. The question we have to ask is, ‘Are we going to fumble the ball?’ Or are we going to advance toward the goal line?”

Bethel Democrat Bob Herron chose a baseball analogy. “You cannot reach second base while keeping one foot on first base,” he said.

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