ANCHORAGE — 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.
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“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.
Certainly she proved effective in attracting developers to a project that has eluded Alaska governors for three decades. But an examination of the pipeline project also found that Ms. Palin has overstated both the progress that has been made and the certainty of success.
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.
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Now, though, she will need the industry’s cooperation if her plan is to succeed, and just this week, her office said she intended to reach out to the North Slope oil companies.
As Ms. Palin takes to the road to campaign with Mr. McCain, invoking the pipeline as a major victory, some Alaska lawmakers who initially endorsed her plan now believe it was a mistake. State Senator Bert Stedman, a Republican who is co-chairman of the finance committee, said that in its contract with the chosen developer, TransCanada, the state bargained away too much leverage with little guarantee of success.