Gulf Shore Getaway

There has been no shortage (pardon the pun) of Oil and Gas news around the Gulf Coast lately. The federal government wants to relax the long-standing ban on new drilling in the Gulf of Mexico. Florida, with wavering conviction in their voice, says they don't think they want it in their back yard. Oil and gas prices are rising, fueling the debate. With more money on the table and less in their pockets every time they fill up, will it be long before Florida lays out the welcome mat?

In the great State of Alabama that welcome mat is well worn. Today there is word ConocoPhillips is offering millions of dollars and environmental guarantees to Alabama if federal officials allow the company to build a liquefied natural gas terminal 60 miles south of Dauphin Island.

The issues surrounding the debate have to do with the environmental impact of the proposed facility. ConocoPhillips' method of production could harm some marine life, say environmental officials. ConocoPhillips believes their process will do no harm and is offering guarantees to that effect.

They're also offering 200 million feet of natural gas per day for Alabama's use, up to $100 million in construction contracts for the facility and approximately $15 million per year when the plant is operational. In addition they're willing to commit funds to the state to continue to study and monitor the impact on the environment.

Getting Alabama's Gulf Coast communities on board should not be too difficult. The proposed facility will be well out of sight and the bulk of the benefits will no-doubt accrue to those communities situated nearest the proposed terminal. ConocoPhillips' deal looks pretty good so far.

Toss in a berm for Dauphin Island and it'll be a done deal.