BP, ConocoPhillips halt pipeline project

posted by
May 17, 2011
Posted in News

"BP Plc (BP/) and ConocoPhillips dropped plans for a $35 billion Alaska natural-gas pipeline, once proposed to be the largest private construction project in U.S. history, because they didn’t get enough customer interest. ... Halting Denali leaves one competing pipeline proposal, backed by TransCanada Corp. (TRP) and Exxon Mobil Corp. (XOM), to bring 4.5 billion cubic feet of gas a day from Alaska’s North Slope." [editor's note: The article doesn't mention that that competing pipeline got half a billion dollars in corporate welfare "seed money" in 2008, courtesy of then-governor Sarah Palin - TLK] (05/17/11)


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