If Palin is McCain's VP pick this should be part of the discussion.
Aug. 29 (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.
That's great news. For Canada. Why did Gov. Palin choose a Canadian company for a $26 billion dollar infrastructure project? More on the flip...
Anchorage Daily News, 1/5/08: On Friday, TransCanada's proposal for a 1,715-mile, $26 billion pipeline running from the Slope to Alberta became public for the first time.
Its application also contained a surprise -- the suggestion the U.S. government might need to take on some of the huge risk of the pipeline by signing on as a "bridge shipper."
This means the government would agree to pay some of the pipeline transportation fees -- potentially billions of dollars -- should gas producers not commit enough gas initially to operate the line at full capacity.
Huh? So Gov. Palin awards a $26 billion dollar construction contract to a Canadian company and the U.S. taxpayer has to assume the risk of paying for the contract if the natural gas customers don't materialize?
But don't worry, the TransCanada CEO has his priorities straight.
Some Alaska state lawmakers... wondered what [TransCanada CEO] Kvisle meant when the Toronto's Globe and Mail quoted him saying, "Nothing goes ahead until Exxon is happy with it."
Harris fired off a letter to Kvisle on Monday afternoon seeking further explanation.
Harris wrote: "It is imperative that this statement be clarified and fully understood immediately. Any implication that Exxon Mobil Corporation some how has 'veto authority' is extremely disconcerting for not only legislators, but for many Alaskans."
How many $26 billion dollar infrastructure projects are there in the US? Do we have to outsource them to Canadian companies and then have the US taxpayers guarantee the payments?
It's not just TransCanada that lives to make Exxon happy.