This makes a LOT of sense - the gas line project, at today's prices and for hte vast foreseeable future, is a total WHITE ELEPHANT and needs to be killed. The project was great @ $11 N Gas, but @ today's $3??? No way.
The only sensible natural gas project is to process the North Slope NG on the North Slope and export it from there, onto LNG ships built for Arctic conditions. A new LNG ship is $200 mm, so let's say we double that: a 5 ship fleet @ $400 mm each is $2 billion. Add in the same processing plant as would have been built on the Kenai, add in a VERY short pipeline into the Arctic Ocean to a mono-buoy and the project is finished, for what, $10-$15B?
The State's $45 B plan was a fool's dream and needs to be killed, NOW. I applaud the senate.