Blog: Dermot Cole
Exxon, TransCanada keep details confidential
Published Thursday, June 11, 2009
Exxon and TransCanada said they won't reveal how much of an interest Exxon holds in the "alignment" announced today.
The companies would only say that TransCanada would hold a majority interest in a joint planning effort estimated to cost $142 million by July 30, 2010
The state will reimburse the companies for about half of the costs until the end of the so-called "open season," which may occur next summer. After that the state will reimburse 90 percent of costs, up to $500 million.
Before agreeing to build a pipeline, years of additional work will be needed to prepare, file and secure federal approval, along with financing, the companies said.
Here are some of the documents released today: http://www.gov.state.ak.us/agia/agia_tc-em.php
Looks like Exxon has figured out how to get a partial reimbursement on the money they spent beating the fisherman out of for the damages and hardships the Exxon Valdez caused , with that big oil spill with a drunken captain at the wheel . Just like a bulldog , they never give up .
$142 million to "plan".
Up to $500 million reimbursed for...?
All before even agreeing to build the thing. Before having the means to build it. Before having permission to build it.
Since we've got the money to burn, how about dropping a measily $20k my way. I'll eventually maybe show you a return on investment. I promise!
So now the State of Alaska is going to pay Transcanada to pay EXXON for something EXXON should have had to pay for themselves? What kind of crap deal is that?
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