On Friday, Palin appointed Canadian company TransCanada as the recipient of the license for The Alaska Gasline Inducement Act – the act that will move forward with the construction of a natural gas pipeline from Alaska’s North Slope to Alberta, Canada.
Two years ago, Palin got all the interested parties together in a series of meetings to discuss how to commercialize gas on the North Slope.
Last Friday, an agreement was reached and Palin gave the license to TransCanada to construct the pipeline. TransCanada will receive $500 million for construction and must meet the state’s deadlines and stipulations.
The license was hotly contested by Exxon, who claimed the pipeline couldn’t be done without Point Thomson, the entity that holds more than a quarter of the North Slope’s gas resources. Apparently, Exxon has had plenty of time to develop their Point Thomson resources and failed to do so. Palin had to commit to TransCanda knowing that Point Thomson would not be available due to Exxon dragging their feet.
Two years ago, Palin got all the interested parties together in a series of meetings to discuss how to commercialize gas on the North Slope.
Last Friday, an agreement was reached and Palin gave the license to TransCanada to construct the pipeline. TransCanada will receive $500 million for construction and must meet the state’s deadlines and stipulations.
The license was hotly contested by Exxon, who claimed the pipeline couldn’t be done without Point Thomson, the entity that holds more than a quarter of the North Slope’s gas resources. Apparently, Exxon has had plenty of time to develop their Point Thomson resources and failed to do so. Palin had to commit to TransCanda knowing that Point Thomson would not be available due to Exxon dragging their feet.
“You know, some would say that Exxon has held Point Thomson and the state hostage for a couple of decades now,” Palin said. “No, we’re not playing that game. What we’re doing, what is right for Alaska, is to say that we need that development up there, it’s time for that development, and by not abiding by the provisions in your leases, you knew what was coming, Exxon.”
TransCanada’s CEO, Hal Kvisle, said his company has been interested in this project for 30 years.
Here is Palin at her best. She had to play hardball with major corporations from the US and Canada in order to get something very important done that would be good for Alaska. When Exxon tried to stall the negotiations and do things their way, she left them behind. Who says she can’t hold her own with world leaders? This was a project that was talked about for 30 years and Palin was the one who actually did something about it.
Here is Palin at her best. She had to play hardball with major corporations from the US and Canada in order to get something very important done that would be good for Alaska. When Exxon tried to stall the negotiations and do things their way, she left them behind. Who says she can’t hold her own with world leaders? This was a project that was talked about for 30 years and Palin was the one who actually did something about it.
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