Alaska’s Imprudent LNG Folly Threatens Its Future
The Alaska Legislature should stop the madness and funding during this legislative session
by
Dave Harbour
Yesterday, we again made reference to the folly of doing risky, long term business deals with communist China, with whom the United States is still at a state of war on the Korean Peninsula, along with North Korea.
Sure, China buys a lot of fish from private, Alaska commercial fishing businesses. That is far different than an Alaska governor, expropriating the multi-multi-billion dollar Alaska North Slope gas commercialization project and bartering with the communists to undertake a risky 20-year venture that is both undefined and uncompetitive at this time. If, as we believe, the Alaska LNG project is among if not the least competitive of such schemes in the world, why would China be interested? Why wouldn’t Japan or the Republic of Korea be offering more than diplomatic MOUs and polite lip service as they accumulate truly competitive LNG commitments elsewhere?
Alaska Governor Bill Walker. NGP File Photo by Dave Harbour
Alaska’s Legislature should stop funding Governor Bill Walker’s quixotic LNG endeavor immediately, however well-intended it once may have been. The venture cannot end well for Alaska or the United States. Do Alaska’s politicians not appreciate the fragile wall now separating war and peace between the U.S., North Korea and her ally, China?
Nicolas Maduro, Venezuela’s socialist (i.e. communist) dictator.
How could a half-designed, $45-60 billion LNG/gas pipeline venture with unproven economics, incomplete regulatory support and no financing plan be even in the realm of prudence when it is owned and controlled by temporarily elected and appointed politicians and bureaucrats subject to legislative interference and positioned for corruptive practice?
Do Alaska’s leaders truly want their Governor to lead them down the socialist energy path that has created such political and economic horror in Nicolás Maduro Moros’ Venezuela?
References: Alaska governor details plans for trade trip to China, Legislative session heats up, Walker pursuing trade mission to China: VIDEO By Steve Quinn, LNG project to use Kenai city water, KSRM Radio: Governor Walker Announces ‘Opportunity Alaska’ Program
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EXPORT COMPLIANCE 201 TRAINING
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TIME: Doors Open at 8:00 am, Program 8:30 am – 4:30 pm
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Certificate of Completion will be Awarded.
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Cost is $250 per person by March 23rd; $295 per person after March 23rd. Price includes all reference material, morning pastries/coffee & box lunch. Seating is limited; reservations with pre-payment is required. No charge parking available at venue. Must RSVP via FAX 803.684.8014 Attn. Mike Allocca. Checks must be received no later than April 5th. Please visit the website, www.alloccaenterprises.com, to pay via credit card on-line.
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Export Council of Alaska thanks our Sponsors and Partners: U.S. Commercial Service and World Trade Center of Anchorage.
Canada
| Kenney threatens to stop flow of oil to BC, put toll on natural gas. CBC.ca. Alberta’s Opposition leader says if he becomes premier there will be “serious consequences” for British Columbia if it blocks the Trans Mountain pipeline expansion. Jason Kenney said Monday he would be prepared to stop permits for the shipment of Alberta oil to B.C. through the existing Trans … |
Today, a friend passed on the following comment related to the above story penned by energy investment banker, G. Allen Brooks. -dh
Canada is confronting its oil and gas export bottlenecks, which are being exposed in the regional battle between Alberta and British Columbia over the Trans Mountain pipeline expansion. Surprisingly, wine drinkers in western Canada were the latest to suffer. -G. Allen Brooks
| Urquhart: Alberta’s climate change claims ring hollow. Calgary Herald The provincial government’s full-page advertisement lamented the dispute between the Alberta and B.C. governments over the need and wisdom of the pipeline project. Alberta’s advertisement urged British Columbians to see their error in judgment, to appreciate that Alberta really was taking “decisive … |
Alaska – U.S.
FERC grants Mat-Su Borough’s request on Port Mac. Mat-Su Valley Frontiersman. The U.S. Federal Energy Regulatory Commission, or FERC, has told Alaska LNG, now led by the state of Alaska, to take another look at Mat-Su, and as of … Alaska LNG was led by North Slope producing companies in a consortium in which the state-owned Alaska Gasline Development Corp. or AGDC, …
International
Since Russia views the Arctic and her energy resources with hegemonic and determined exploration — and now, development — we find this analysis of the U.S. – Russia relationship of extreme interest to our adjacent countries and of high value to our U.S. and Canadian diplomatic and military strategists. -dh
By Victor Davis Hanson
Donald Trump has said a lot of silly stuff about Russia, from joking about Vladimir Putin helping to find Hillary’s deleted emails, to naïve musings about the extent of Russian interference into Western democratic elections. But far more important than what he has said is what Trump has done. That same caveat applies to Hillary Clinton and Barack Obama.
Start with two givens: Vladimir Putin is neither stupid nor content to watch an aging, shrinking, corrupt, and dysfunctional — but still large and nuclear — Russia recede to second- or third-power status. From 2009 to 2015, in one of the most remarkable and Machiavellian efforts in recent strategic history, Putin almost single-handedly parlayed a deserved losing hand into a winning one. He pulled this off by flattering, manipulating, threatening, and outsmarting an inept and politically obsessed Obama administration.
Two things come to mind; first, GREED if we didn’t need to get rich this would be a good investment. That being said it was only 4 billion dollars in 1990. We sat on our collective thumbs and here 28 years later now it’s how much? Just think of all the PFD money we would of spent already if the gas line was built in the 90’s. Second, yes China might not be our best buddy but is their money any different than anyone else’s? I say build the LNG and make a PFD like Governor Hammond did and let’s get off the get rich idea. If you build it they wI’ll come! Canada and Mexico still need LNG and once it’s built I’m sure they will buy from us if we don’t over charge the stuff out of it. That all being said we will get rich off of it but it will take a few years longer.