The ADN editorial on the gas shortage was long on narrative and particularly short on thought. As it indicated and others have pointed out in considerably greater detail, there are natural gas reserves that can be exploited in Cook Inlet. The problem is that drilling doesn’t always pay off, and, if it does, the Alaska market is too small to provide the payoff required by investors.
There is a solution. The state has spent untold millions chasing a natural gas pipeline from the North Slope — I couldn’t find a total. Its history on other commercial development projects isn’t much better. The governor wants almost $5 million in the next budget to continue to chase the pipeline. It’s time to stop.
The money can be invested in Cook Inlet drilling and have a much greater chance of benefiting Alaskans. If a hole is dry, it’s no worse than the loss of gas pipeline support. If the hole is a success, then there would be some return on the money. More significantly, the dangers to the people and economy of a gas shortage or huge price increase for importing could be avoided or substantially reduced.
In other words: The state investing in Cook Inlet drilling can’t be less successful than spending the money on promoting the gas pipeline and, if it succeeds, the benefits are clear.
— Peter Crosby
Anchorage
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