ConocoPhillips Proposal in the Spotlight

The rejected ConocoPhillips Alaska Gas Pipeline proposal is under close review by the Alaska Senate Resources Committee.

In addition to the 3-page letter of January 9th, 2008 the committee is review additional documents from the Governor's office.

It's not clear were this is leading ConocoPhillips but in testimony Wednesday ConocoPhillips raised concerns about a potential $9 Billion liability of TransCananda.

ConocoPhillips referred to the TransCanada liability as a "Stumbling Block".

Conoco's persistence will probably pay off - at the moment they have 0% participation in Alaska Gas Pipeline, a good proposal, and the ear of the lawmakers.

Their partnership with TransCanada on the Keystone Pipeline indicates that they can and will partner with TransCanada to achieve their goal.