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Gold/Mining/Energy : Alaska Natural Gas Pipeline -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (304)	5/14/2007 1:06:36 PM
From: Kenneth Kirk	Read Replies (2) \| Respond to of 570

Has Palin created a prisoners' dilemma for the oil companies? BP insists it won't bid. Other companies hinted at it but, as far as I know, haven't committed not to play. The bidding is supposed to be confidential until the deadline to bid passes. I don't know if one of the big companies could put together a bid this size without the others finding out. If AGIA is good enough for the companies that they can make some profit (at least enough to make it worth their while to get into it), although not as much as they wanted, then the companies have an incentive to defect from their hardline stances and submit bids. Especially if there's a chance the other companies won't bid. And if they hold fast, she can try another strategy: the Dutch auction (gradually reduce the price until somebody bids, and the first bidder gets it).