[dools007]

That’s interesting. Exxon leased the land containing natural gas from Alaska. The gas is Alaska’s property. Alaska expected Exxon to extract the gas and bring it to market. Alaska expected to get a percent of the take which it would redistribute to Alaskans. This has been happening for years with oil in that state. I realize giving the money to its citizens is a revolutionary concept for many of us who live in other states.

Nevertheless, Exxon chose to sit on the lease—probably to keep the gas off the market so more could be charged for gas that was being sold. Of course the other consequence was to keep America dependent on foreign energy.

There has been a very cozy relationship between Alaskan pols (both Demrat and Pubbies) for years. I’m sure there was a game afoot whereby Alaskan pols agreed not to force Exxon to “use it or lose it”. I suspect that some Alaskan pols’ bank accounts were enriched accordingly. If memory serves me some of them went to jail.

What ever the case, Gov. Palin chose to break up the game. She forced a recompete of the contract. A Canadian company, TransCanada, won the lease and is already moving gas to the lower 48.

I would be very interested in hearing what part of that may have been illegal. Also, do you think Alaskans and Americans are benefitting from Gov. Palin’s initiative?

[Onerom99]

The part where she forced a recompete of a signed contract.

Alaska should retain better lawyers before they draw up these contracts.

[proud_yank]

If memory serves me some of them went to jail.

Who? What was done illegally regarding pt. thompson?

Also, do you think Alaskans and Americans are benefitting from Gov. Palin’s initiative?

No. There has been a very visible decrease in investment in Alaska, and work has slowed as a result. Most new oil exploration is occuring in off-shore federal leases because the tax burden is less.