Word: canol
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Dates: during 1940-1949
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...Truman Committee turned up what will probably prove to be only the first of many tales of frantic, wasteful Army spending after Pearl Harbor. Lesson One involved $134,000,000 - the cost of the Army's long-secret Canol project for fueling Alaska Highway and air traffic by developing an oilfield in Canada's frozen Northwest near Fort Norman...
...availability of critical materials, transportation and manpower, or the Navy about the possibility of sending oil up from Seattle by tanker through the Inside Passage. "I am not familiar with Washington situations and setups," explained the Dean. Then Dean Graham sat down and wrote a one-page memorandum recommending Canol. General Somervell okayed it the same day. There was no estimate of the cost...
Last week Secretary Ickes, Petroleum Administrator, said unfinished Canol "is worth nothing and will have no value after the war," declared it "ought to be junked now." A WPB expert asserted that the 550-mile pipeline being laid between the oilfield and the refinery at Whitehorse in the Yukon will never function effectively because the mountainous wilderness it traverses is too cold...
Under Secretary of War Robert P. Patterson appeared for the defense. "The War Department is proud of Canol," he declared. As for its exorbitant cost, "one might as well criticize the cost of capturing the Salerno bridgehead by stating that the land acquired was worth only a few dollars an acre...
Government will have no postwar share in the field it financed and developed. That is why the Truman Committee thinks the contract rates a good close scrutiny. Certainly, in local opinion, the Canol project will never pay its cost at present production. Only if larger reserves, now being sought, are found will the U.S. stand a chance of getting its money's worth, beyond military value...