Friday, June 11, 2010

Denali Open Season Starts 6 July 2010

Normally this would be good news (LINK to FERC) as it is a tangible sign of progress by Denali in their efforts to authorize and build an Alaska Gas Pipeline. (Graphic links to Denali Source Page)

This fragment of good news is tainted by the overwhelming tragic news from BP, one of the Denali venture partners. I've watched the Deepwater Horizon tragedy unfold from the perspective of an old engineer who has seen bad decisions and errors lead to death and injury in the workplace. The loss of life and ruination evoke deep feelings of sadness and anger. I won't add my voice to the shrill din of those calling for the heads of BP's leaders. The marketplace will punish BP, and nobody knows how far our political leadership will go in their ham-handed approach to an industry they no little about.

In the end BP may be dissolved and gobbled up by Royal Dutch Shell or CNOOC (China National Offshore Oil Corporation). It's also possible that a severely weakened BP will emerge from this tragedy. I can't see how either outcome helps push and fund the Alaska Gas Pipeline proposed by Denali.

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