Point Thomson leases terminated - KTVA
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#1 Aug 5, 2008
Love them or hate them, why should the major producers have developed a primarily gas field when there was no infrastructure in place to move product to the market?
The Palin administration has taken on an incraesingly adversarial stance with regards to the major producers driven by what a significant number of industry insiders consider to be a personal vendetta. What is worse, the path down which the administartion intends to bring the state will have dramatic effects far after that administration has gone; negative ones.
Only recently, DNR experts have vocalized doubt that Point Thomson was critical in the development of both a gas pipeline as well as north slope gas in general. A view not shared by indistry experts both from within and without the ranks of the majors themselves. These announcements came only at a time that the Palin administration was pushing it's much touted "Trans-Canada" deal which has recently seen scrutiny that its owners themselves view the decisions of Exxon as crucial for its own success.
Is it any wonder that the DNR, in its own press release, now touts the "expedited development of this crucial resource", which they had previously attempted to marginalize? Unfortunately for both the people of Alaska as well as our much maligned leadership, the argument against ExxonMobil and the other major producers retaining Point Thomson is weaker than the producer's position. Knowing that Mr. Irwin and the DNR were already moving towards the abolition of the Unit as well as the termination of the leases, the majors initiated the investment of well over $1 Billion dollars. Much of this money has already been spent. It flies against any rational thinking whatsoever that these corporations would expend such sums of money without a firm knowlege that the legal high ground was on their side. Regardless of "right" or public sentiment fostered by the administration, media, or whomever, the odds of failure for the majors is relatively slim. Not because they are deceptive ro corrupt, but because they execute plans after careful planning.
Thus far, the most complex planning on behalf of our state's leadership has been a failed attempt to fire a public safety officer through bullying.
#2 Aug 5, 2008
Woops, should have proofed that a second time :P
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