Bill Walker, Fairbanks Daily News Miner

On Monday, Gov. Parnell posted a new state of Alaska website touting that the Alaska Gasline Inducement Act open season provides an option for both a gas pipeline project into Canada and a Valdez liquefied natural gas option. But the website fails to inform Alaskans that after the initial open season, TransCanada will no longer pursue the Valdez LNG option, yet TransCanada will control that route.

Why is Parnell using public funds at the peak of the campaign season to advertise a Valdez option that will not be pursued after the open season closes in two weeks?

Although Parnell refuses to release the results until after the election, TransCanada’s open season will not produce condition-free, firm commitments to ship gas. Breakthroughs in tapping shale gas formations have led to gluts in North American natural gas markets. The Department of Energy estimates the Lower 48 now has a 100-plus years of gas reserves. Prices have collapsed accordingly. The new CEO of TransCanada recently stated that the Alaska project is not a priority.
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