1-6-17 Gas Pipeline Logic

Today's Headline From Argus: "State Agency Takes Over Troubled Alaska LNG Project". Today's Logic: if some of the largest energy investors in the world (i.e. BP, ConocoPhillips, ExxonMobil) believe now is not the time for an Alaska North Slope gas export project, why would a state bureaucracy (i.e. Governor) enmeshed in fiscal crisis hang on for dear life to an economically infeasible, multi-hundred million dollar, risky, volatile, commodity-based, private-sector energy project -- when consumer-friendly, low LNG/gas prices and over supply continue to dominate gas markets?  "Hope" is often the [...]