Sarah Palin's Billion Dollar Pipeline

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TransCanada’s gas line bid is cause for concern, critics say
Posted on January 25th, 2008
Wesley Loyfor The Anchorage Daily News
January 20, 2008

In her State of the State speech to lawmakers last week, Gov. Sarah Palin said her plan for delivering a natural gas pipeline to Alaska is working.The proof, she said, is that “a respected pipeline construction company, TransCanada, submitted a proposal that meets all of Alaska’s requirements.”But critics are questioning TransCanada Corp.’s bid and Palin’s optimism.

The critics note TransCanada’s proposal is rife with clues that it will take far more than a newfangled state license and $500 million in seed money to launch the state’s most important and elusive economic development project.While not demanding — it can’t, under terms of Palin’s Alaska Gasline Inducement Act, or AGIA — the company is suggesting a pipeline might need billions in new financial backing from the U.S. government. To some, TransCanada is signaling the foundation is not yet in place for the 1,715-mile, $26 billion Alaska Highway pipeline the company has proposed. And that Alaska’s government risks wasting years and huge sums of money by throwing in now with TransCanada.“They’ve already admitted they can’t do the job, so why are we giving them $500 million and a state license?” said Andrew Halcro, an AGIA critic who in 2006 ran for governor as an independent against Republican Palin.

Aug. 29, 2008 (Bloomberg) -- TransCanada Corp., the nation's largest pipeline company, won approval from Alaska Governor Sarah Palin to build a $27 billion pipeline to carry natural gas from the Arctic to U.S. markets.Palin on Aug. 27 signed a bill authorizing the state to award Calgary-based TransCanada a license to build the 1,715- mile (2,744-kilometer) link from Prudhoe Bay to the Alberta Hub in Canada, according to a statement. The license will be granted in 90 days.


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