The REAL reason why there is no Half-Life 3!

Right click on the picture - open in new tab to zoom it.

Well, it's a reasonable explanation :-P

I think they're reserving it for Source 2. I believe HL3 will be the first game released with this engine when the engine is done

I find the OP's explanation to be much more believable.

now that i've looked at it i agree lol

Might also be something to do with Valve's VR system. What a better way to promote it than HL3..

All their resources have gone into Portal I guess.

It's all hardware related. I think Valve said not too long ago they were kind of disappointed with current hardware (a year or two ago) and that their vision for half life 3 far exceeds what's out there.

Good one. I was actually thinking today that April 1st would be a great date to announce HL3. Everyone would think it was a joke, but it Valve should announce it for real = everyone would get trolled.

But the real reason there is no HL3 is because Valve doesn't care obviously.