 Natural Gas On Heels Of New Findings June 26, 2002
The new report finds the increased supply of natural gas made possible by the Alaska gas pipeline will help guard against price spikes associated with future demand increases. The report also shows the pipeline will contribute $65 billion to American and Canadian economies by 2020. Further, the proposed safety net plan to help development is likely to have no cost to taxpayers. Majority Leader Tom Daschle said that, "there is broad bi-partisan support in the Senate for the Alaska gas pipeline project. The Charles River analysis is further confirmation that this project will make a significant, long-term contribution to Americas energy position. It will also create jobs, reduce energy costs and spur economic development in Alaska." "More and more, natural gas is the fuel of choice to help meet Americas future energy needs," said Senator Murkowski. "In this new age of awareness of external threats to our nation, safe and secure North American sources must be encouraged. We must make certain that the energy behind our power plants is American made so we can further guarantee our energy security." "This report shows the wide scope of the positive economic benefits of developing Alaskan gas," added Murkowski. "The development of such a massive project is always a risky proposition - that's why the 'safety net' was developed to help reduce the risk and establish some degree of economic certainty. "The study confirms our belief that the 'safety net' will have minimal impact to the markets and to the taxpayers," said Murkowski. "That is why the provision received a zero revenue score from the Joint Committee on Taxation. Without the net, its clear that it would be very difficult for this pipeline to ever move off the drawing board." A complete copy of the report is available at Charles River Associates, Inc.
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Audio
- Listen to Senator Murkowski's comments on the report