Source:
NY TimesANCHORAGE — When Gov. Sarah Palin of Alaska took center stage at the Republican convention last week, she sought to burnish her executive credentials by telling how she had engineered the deal that jump-started a long-delayed gas pipeline project.
Stretching more than 1,700 miles, it would deliver natural gas from the North Slope of Alaska to the lower 48 states and be the largest private-sector infrastructure project on the continent.
“And when that deal was struck, we began a nearly $40 billion natural gas pipeline to help lead America to energy independence,” said Ms. Palin, the Republican vice-presidential nominee. “That pipeline, when the last section is laid and its valves are opened, will lead America one step farther away from dependence on dangerous foreign powers that do not have our interests at heart.”
The reality, however, is far more ambiguous than the impression Ms. Palin has left at the convention and on the campaign trail.
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The pipeline exists only on paper. The first section has yet to be laid, federal approvals are years away and the pipeline will not be completed for at least a decade. In fact, although it is the centerpiece of Ms. Palin’s relatively brief record as governor, the pipeline might never be built, and under a worst-case scenario, the state could lose up to $500 million it committed to defray regulatory and other costs.
Read more:
http://www.nytimes.com/2008/09/11/us/politics/11pipeline.html?_r=1&hp&oref=slogin
As usual all hat and no moose!