Wednesday, May 5, 2010
Bradford Landing LNG port and pipeline deal is "suspended". I believe the business term is "sunk costs".
NorthernStar Natural Gas Inc. said Tuesday that it is suspending efforts to develop a liquefied natural gas import terminal on the Columbia River, 25 miles east of Astoria. The announcement ends a six-year effort that consumed as much as $100 million of investors' capital and countless hours of regulatory work while sparking a firestorm of public opposition from property owners and environmentalists. The Houston-based energy development company sent out a one-page news release Tuesday afternoon quoting NorthernStar President Paul Soanes saying extended delays in state and federal permitting and the difficult investment environment "have forced us to suspend development." The company characterized its move as a "suspension" of the project, not a termination. It did not return follow-up calls on Tuesday.
Tuesday, May 4, 2010
Saturday, May 1, 2010
Watched the News Hour, BBC, and DW T.V. last night before bed. All three led with the oil spill disaster in the Gulf of Mexico. When I worked in the oilfields I was amazed at how degrading the process was to the environment - even when everything went smoothly. One of my better memories is when our service crew arrived at the well just as the driller lost a tool down the hole. Took 'em a day to fish that baby out. Every truck running to keep warm (Wyoming winter). Beautiful sunrise, then horses running on the prairie. I was pointed to Infrastructurist by C&L.
A picture tells the story.