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BP, Conoco Phillips plan new pipeline in Alaska

JUNEAU — Oil giants BP and Conoco Phillips announced Tuesday they're joining forces on an Alaska natural gas pipeline, news that fired both excitement and doubt in the state capital.

Gov. Sarah Palin and many lawmakers hailed the announcement as healthy progress toward the state's grandest economic development dream. But some raised questions: Are the companies sincere? Should the state now award an exclusive license plus a $500 million subsidy to a Canadian company touting a pipeline of its own?

BP and Conoco executives in Anchorage said their companies will form a new firm to pursue what they call the Denali project — a pipeline costing more than $30 billion from the rich North Slope gas fields down the Alaska Highway and into Canada.

Read the full story at adn.com.

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