McCain's VP:

In a major speech Wednesday on how to achieve energy independence, Sarah Palin drew attention once again to a huge natural gas pipeline project that will connect Alaska with the Lower 48. The pipeline has been under discussion for more than three decades -- but work has not yet begun and there is still no guarantee that it will ever be built. So what exactly has been accomplished during the two years Palin has served as governor of Alaska?


The Facts

Palin persuaded the Alaska legislature to authorize a Canadian company to secure the necessary financing and permits for a 1,715 mile pipeline from the North Slope gas fields to the Canadian pipeline network. Under the deal, which received final approval in August, the state will provide up to $500 million to Calgary-based TransCanada Corp to coordinate the securing of permits, customers, and financing for the pipeline. TransCanada would like to complete construction on a pipeline by 2018.

By granting the license to a Canadian company, Palin was attempting to perform an end-run around the companies that actually control the 35 trillion cubic feet of gas reserves on the North Slope: BP, Conoco and Exxon Mobil. She complained that the big oil companies were demanding too high a price for their participation in the pipeline project, and that her plan will expose them to "free-market competition."

The problem with this narrative, says University of Alaska Economics professor Douglas Reynolds, is that the pipeline cannot be built without the cooperation of the companies who control the North Slope oil. These companies can refuse to sign off on the pipeline construction project coordinated by TransCanada and remain free to organize their own alternative project. Financing for either project will almost certainly depend on some kind of barter agreement between Alaska and the big oil producers.

Contrary to claims by Palin and her supporters, the latest developments do not guarantee that the pipeline will actually be built. The Anchorage Daily News called those claims "incorrect" in its coverage of the
August 2 Senate vote approving the granting of the license to TransCanada.

It is therefore inaccurate for John McCain to claim, as he has done at various times on the campaign trail, that his running mate "negotiated a $40 billion natural gas pipeline that will bring clean energy to the Lower 48." Both the financing and the actual construction terms for the project remain to be negotiated.

"Of course Palin's inflating what she actually achieved here," said Reynolds. "You betcha."

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The Pinocchio Test

Both Palin and McCain have exaggerated the Alaska governor's accomplishment in launching a multibillion dollar pipeline project that will reduce America's dependence on foreign energy sources. They talk about the project as if it is already underway, when it has yet to be negotiated and nobody knows how much it will actually cost.

Eagelburger: Palin’s Not Qualified

Lawrence Eagelburger is a rock-ribbed Republican, a McCain supporter, someone listed as a McCain adviser, etc. And he says this:

The remarks took place during an interview on National Public Radio that was, ironically, billed as “making the case” for a McCain presidency. Asked by the host whether Palin could step in during a time of crisis, Eagleburger reverted to sarcasm before leveling the harsh blow.

Quote:

“It is a very good question,” he said, pausing a few seconds, then adding with a chuckle: “I’m being facetious here. Look, of course not.”

Here is a short, but succinct, interview with Palin, which is very telling.

http://www.youtube.com/swf/l.swf?swf=http%3A//s.ytimg.com/yt/swf/cps-vfl64504.swf&video_id=5nYoahyaPuA&rel=1&showsearch=1&eurl=&iurl=http%3A//i2.ytimg.com/vi/5nYoahyaPuA/hqdefault.jpg&sk=_NOF5l8_lyZsIX0a-FP-8qSUpWdlarNmC&use_get_video_info=1&load_modules=1&fs=1&hl=en

Waterboy I like most Americans had intel enough to see the absurdity of Joe the Plumber. As usual you and McBushie miscalculated. When McBushie told folks like you you were Joe the Plumber you were proud.

Waterboy I like most Americans had intel enough to see the absurdity of Joe the Plumber. As usual you and McBushie miscalculated. When McBushie told folks like you you were Joe the Plumber you were proud.

Quote:

Waterboy I like most Americans had intel enough to see the absurdity of Joe the Plumber. As usual you and McBushie miscalculated. When McBushie told folks like you you were Joe the Plumber you were proud.

If by being "proud", you mean working hard all week to support my family and pay my bills, if you mean supporting my country, if you mean being willing to serve my community, if you mean being a good steward of my land and if you mean teaching my kids right from wrong, then yes I am proud to be "joe the Plumber".