Say it ain't so! AGIA a FLOP? Ted Stevens thinks the big pipeline to Canada is a no-go. (LINK). He favors the line to Valdez and LNG for the global market. Sometimes it's tough to see how big oil get get a decent rate of return on the big line to Alberta.
“I have now changed that position and now support the bullet line, but I think it should go to Kenai and I support the construction of the line to Valdez. I asked for the privilege of speaking to you to try to explain to Alaskans why I have so drastically changed my position. I think that these lines are needed not only for the needs of Alaska but I think we need to concentrate on processing as much of our gas as possible into LNG.”I've made the point before that big oil needs gas for Canada to fuel tar sand projects, but marketing LNG to the Asian market is not a bad "Plan B".
In terms of scale and level of project difficulty think Trans Alaska Pipeline + Exxon's Papua New Guinea LNG Project.
In terms of global finance wouldn't be nice to reverse the flood of dollars headed to China? Instead of Canadians with a hand out for taxpayer AGIA cash why not do business with end users with funds to invest?
Now that Uncle Ted has said it - will anybody listen?