ConocoPhillips to seek Alaska pipeline project
November 30, 2007
Copyright 2007 Houston Chronicle
Houston-based ConocoPhillips will be one of the companies to submit an application to build a $20 billion to $30 billion natural gas pipeline from Alaska’s North Slope, a project that many say will be the largest single construction project in U.S. history.
The company said today it has submitted a pipeline proposal to the state of Alaska, the same day applications are due under a pipeline construction process that Conoco and the other major North Slope producers, Exxon Mobil and BP, sharply criticized. Conoco says its proposal is being made outside that process.
“We desire to work directly and purposefully with the state of Alaska and the Legislature to advance this project as quickly as possible,” said Jim Mulva, chairman and chief executive officer of ConocoPhillips. “We also expect to approach other parties to explore ways through which their participation could add value to this effort.”
The three producers had negotiated a pipeline deal with former Alaska Gov. Frank Murkowski last year in private negotiations, but he was defeated in the November 2006 election.
Current Gov. Sarah Palin threw out that deal when she took office and created an open bidding process — the Alaska Gasline Inducement Act — which closes today.
The AGIA offers $500 million in financial backing to the project, a 10-year lock on gas-related taxes and other inducements. That would be on top of federal incentives for the project, including billions of dollars in loan guarantees.
Palin will announce all of the applicants tonight.
BP officials have said they are not submitting a bid because they believe the AGIA process won’t work for them.
“We want a successful project,” said spokesman Steve Rinehart. “It’s important for us, for Alaskans and the whole country. But our determination is AGIA would not produce a successful project.”
Exxon Mobil has declined to comment on the pipeline project.
The North Slope has proven gas reserves of 35 trillion cubic feet, or about 13 percent of the United States’ known reserves, but geologists say the potential for undiscovered gas is as high as 200 trillion cubic feet.
Source: Houston Chronicle
Conoco submits Alaska pipeline proposal - UPDATE 1-
November 30, 2007
(Recasts, adds details, updates sourcing)
NEW YORK, Nov 30 (Reuters) - ConocoPhillips Inc (COP.N: Quote, Profile , Research) on Friday proposed to build a $30 billion natural gas pipeline from Alaska to the lower 48 U.S. states.
The company said it submitted a proposal to Alaska Governor Sarah Palin to build a pipeline that would move about 4 billion cubic feet of natural gas per day.
It said it would make significant investments, without state matching funds, to advance the project.
Alaska’s North Slope contains 35 trillion cubic feet of known natural gas and is believed to hold many more times that in undiscovered reserves.
The company also said it plans to approach other parties to explore their participation in the project.
Chief Executive James Mulva told the Wall Street Journal he is willing to partner with a pipeline company and hopes to join with Exxon Mobil Corp (XOM.N: Quote, Profile , Research) and BP Plc (BP.L: Quote, Profile , Research) on transporting natural gas from Alaska’s North Slope region.
The three major producers have previously sought direct negotiations with the state to hammer out fiscal terms they say are needed to reduce the risks of such a massive project.
ConocoPhillips said Bechtel Oil, Gas and Chemicals will provide Engineering and technical support for the early stage of the project. (Reporting by Michael Erman and Justin Grant; Editing by David Holmes and Dave Zimmerman)
© Reuters 2007. All Rights Reserved.
Source: Reuters
Governor Palin Invites Public Input on Budget
November 22, 2007
November 21, 2007, Anchorage, Alaska – Governor Sarah Palin today urged Alaska residents to become involved in the state budget process by participating in a web survey. “Voices Across Alaska: State Budget Priorities” is an opportunity for Alaskans to provide their opinion on how the state’s projected budget surplus should be saved and invested.
“We all know oil prices will not remain at record levels forever, and planning ahead will help ensure that we really are kicking off a new era of tax stability,” said Governor Palin. “Under ACES, surplus revenue of approximately $1.6 billion could be realized this year. I hope Alaskans will take advantage of this opportunity to become part of the process.”
The Governor’s office will use the input to complete the FY2009 budget plan, which will be released to the public and the Legislature for consideration in mid-December. Surveys will be accepted through 5 p.m. on December 3, 2007.
The survey can be accessed at http://www.gov.state.ak.us
The New Alaskan “Bear” Of A Governor
November 16, 2007
By Mike Hegedus
CNBC Special Features Reporter
cnbc.com
| 16 Nov 2007 | 11:46 AM ET
MENDENHALL GLACIER, AK - I’m standing at the base of Mendenhall Glacier outside Juneau Alaska. Gorgeous is an understatement. A local lady comes by out of breath. “If you go around the corner, ” she says smiling, ” you’ll see the bald eagle in the tree. Oh, and do so hope that we can see the bear today!”
BEAR? That’s what she said, a bear lives in these parts. So I’m quickly going through my check list of what do when and if I see the bear. Run comes to mind. And then I remember that it’s the female bear that is the most dangerous, particularly if she’s with cubs. Mark that down as you run.
Then it dawns on me. I may have just interviewed my first Alaskan female bear–Governor Sarah Palin. She’s Alaska’s first female Governor, and likely the very first to be listed as ‘hot’ on a few websites. She’s an attractive, 42 year old mother of four, who has been in office now just about a year. She’s an engaging interview. And she’s a “bear” when it comes to protecting Alaska’s right to a fair shake from the oil and gas companies.
“It’s something Alaskan’s were smart enough to put in our state constitution ever before we were a state. Our promise to be self sufficient and to provide our natural resources for the general good of the country. We promised to do that as long as we got a fair shake. It’s time to get that for all Alaskans.” She tells me this as we walk along the path in front of the waterfall that runs next to the glacier.
She’s currently working in special session to increase the revenue that Alaska receives from the oil producers in her state. They are calling it a tax, she’s calling it a “fair deal”. She’s likely to win. She’s also in the process of pushing for a pipeline to bring natural gas from Alaska’s North Slope to the lower 48. A pipeline she has opened to all bidders, not just big oil. Something else they don’t like. Doesn’t phase her a bit. “It’s time we’re the “head” instead of the “tail” when it comes to American energy policy,” she says. “And this is the start.”
She’s fiercely protective of her state’s natural resources, its natural beauty too. But she believes that the times and the technology are right to be able to do both—mine U.S. energy resources and protect wildlife and the beauty that we’re both looking at out over Mendenhall.
A bear huh? It’ll be no match for Sarah Palin.
‘MOA’ is on it’s way to South Dakota, best pheasant hunting in a decade I’m told. We’ll see you in the corn fields this weekend. Here’s an early heads up, set your Tivos for 11 am eastern on Thanksgiving Day–a whole hour of MOA on CNBC.
Questions? Comments? mikeonamerica@nbcuni.com
© 2007 CNBC, Inc. All Rights Reserved
Source: CNBC
Gov. Dismayed with State Supreme Court
November 10, 2007
Governor Palin Dismayed with State Supreme Court Decision
November 2, 2007, Juneau, Alaska - In a 3-2 vote this morning, the Alaska Supreme Court ruled Alaska’s Parental Consent Act unconstitutional. The PCA, passed by the Alaska Legislature in 1997, requires girls 16 and younger to obtain parental consent before getting an abortion. The court decided the law burdens a minor girl’s fundamental right to reproductive freedom.
“It is outrageous that a minor girl can get an abortion without parental consent,” said Governor Palin. “The State Supreme Court has failed Alaska by separating parents from their children during such a critical decision, moving in the exact opposite direction from the law’s intent.” Read more
