If this makes economic sense, it can clearly be funded entirely by th eoil industry--the costs are in the ballpark of other big oil projects.  So there's no need for a govt giveaway.  

It's clear oil prices will be in the range where this will be profitable (if production costs are really $32/bl).  So I glad to hear the Governor supports it and will help it along.  A project like this will take a decade to get up and running, and peak oil by or before 2015 is a forcast many oil experts would agree with.  

I wouldn't worry about a project this small allowing US oil use to remain at current levels--even with this and other future projects US oil use will, the only question is how far?

I seem to remember some of Bush's speeches talking about how we need to invest heavily in coal technology. One plant will do 150,000 a day, but how about some manhatten project-style spending to build 100-200 of these around the country. That will save us forever I'm sure.</sarcasm>

As if it wasn't bad enough that the administration is doing nothing, there's the problem that Bush had already run two oil companies into the ground. And he had advisors then too.