Persily Opinion on Alaska LNG

Let’s Stop Kidding Ourselves… North Slope Gas Isn’t Economic to Develop (ADN)

Larry Persily (Opinion, May 23): FERC approved the Alaska LNG application at its May 21 meeting. That’s like getting a building permit for a condominium development that you cannot afford to build, that no one wants to buy, and that no bank will underwrite… We can hope for a strong market recovery; tell ourselves the world will be short of gas in the 2030s and beyond; convince ourselves that the competition from Russia, Qatar, Australia, the U.S. Gulf Coast, Canada and others will part like the Red Sea did for Moses and let us pass. Maybe some new technology will come along to change the finances of Alaska gas. Or we could accept the reality that Alaska North Slope gas cannot overcome market economics… That’s the realistic response: Stop spending money. Link to Content

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