 In his 1966 analysis of the project 's economic feasibility , Michael Brewer refuted the conclusions of the 1962 federal study , saying that the ability of the dam to pay for itself was " an exercise in speculation " . He also wrote that even if the dam was built and cheap electricity made available , " Alaska did not possess a competitive advantage " . He concluded by saying that the project was " not economically efficient " . Because of arguments like these , the common belief among informed observers outside Alaska was that the project was designed to benefit Alaska alone , and thus could almost be considered " foreign aid . " An editorial in The New York Times summed up non @-@ Alaska opinions when it asked if the dam project was " the world 's biggest boondoggle " . 
