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Thanks to Obama and the Democrats, we may have missed this opportunity. This tells us the Democrats are not on the side of America when in comes to energy. They couldn't care less about you and me, our heating bills, or cheap, plentiful energy. They'd rather reward their "green" supporters like Tom Steyer.
Who cares, the pipe line is only intended to bring the product to the gulf for Export to other Nations and not for use in the US. The only jobs created would be mainly temp jobs to build the thing and after that a few techicians. Why would we want this project it brings little to the Nation and the risks of spills are on our soil.
Keystone XL wouldn't reduce your heating bill. The objective of the Keystone XL, Energy East, Northern Gateway et al pipelines isn't to reduce North American heating bills but to move Tar Sands oil to ports for export. Canada wants as many pipelines as possible to move its oil to export markets. Energy East and Northern Gateway would go ahead whether or not Keystone XL was built. Canada benefits by exporting oil, but America benefits little by moving Canadian oil to US ports for export.
Have you ever heard of supply and demand? The more product getting to the market, even foreign markets, the lower the price for everyone.
"Some Canadian producers are so intent on finding new markets they are looking to a loophole in the U.S. rules against oil exports. The rules apply only to U.S.-produced oil, so Canadian producers can apply for licenses to ship oil to the U.S. Gulf Coast and then re-export it to distant lands from there.
"This could be the next big game changer for the North American crude-oil markets," said Martin King, vice president of institutional research at FirstEnergy Corp. FE +0.87% , an investment bank in Calgary, Alberta. "Re-exports of Canadian crude, mostly out of the Gulf Coast, are going to change the industry," he said.
The company said it had no specific plans to re-export crude, but some evidently do. The U.S. Department of Commerce granted more than 50 permits to export crude oil in the six months through March, targeting destinations such as Japan, South Korea and Spain. One permit went to a U.S. subsidiary of Canadian pipeline operator Enbridge Inc. ENB.T -1.29%
The trade publication Platts has reported a plan by Madrid-based Repsol SA REP.MC -2.65% to import around 550,000 barrels of Canadian oil via the Gulf of Mexico. The exporter's identity isn't clear. Repsol declined to comment.
Reaching for customers beyond North America could allow oil-sands producers to get higher prices than in the U.S., where their output—so heavy it has the consistency of peanut butter—sells at a discount. Called Western Canadian Select, it fetches less than West Texas Intermediate because of transportation costs, lower quality and limited access to U.S. refineries that can process it, although the gap has narrowed lately. "
Who cares, the pipe line is only intended to bring the product to the gulf for Export to other Nations and not for use in the US. The only jobs created would be mainly temp jobs to build the thing and after that a few techicians. Why would we want this project it brings little to the Nation and the risks of spills are on our soil.
More than 60% of the investment in Canada's oil and gas industry comes from the USA and America's high net worth investors benefit whenever it makes a profit, the same goes for transporting it by rail. Last week it was announced that Canadian Pacific Rail and the US CSX (C&O) RR were in merger talks. CN and Norfolk Southern RR already share routes and bright Orange CN locomotives are now seen on rail lines leading to NY and NJ. Canada's RR need a major infusion of cash to repair worn out tracks and buy new safer RR tanker cars and bigger locomotives. There have been derailments and some disasterous fires due to rail shipments of oil.
More than 60% of the investment in Canada's oil and gas industry comes from the USA and America's high net worth investors benefit whenever it makes a profit, the same goes for transporting it by rail. Last week it was announced that Canadian Pacific Rail and the US CSX (C&O) RR were in merger talks. CN and Norfolk Southern RR already share routes and bright Orange CN locomotives are now seen on rail lines leading to NY and NJ. Canada's RR need a major infusion of cash to repair worn out tracks and buy new safer RR tanker cars and bigger locomotives. There have been derailments and some disasterous fires due to rail shipments of oil.
So then it is better for OUR economy if they ship it by rail since the pipeline does almost nothing when it comes to creating jobs.
So then it is better for OUR economy if they ship it by rail since the pipeline does almost nothing when it comes to creating jobs.
Problem is, shipping by rail is very dangerous (there have been many derailments of trains carrying oil). It also benefits Warren Buffet (any surprise Obama blocks the pipeline project?).
We just need to tell Canada to be patient with us a little longer. Like about two more years (even though we need that pipeline now!!). We'll get a conservative in there who will support energy independence so we can stay cool in the summer and warm during the winter. I don't blame Canada one bit for losing patience.
Unless Darth Barry gets impeached along the way, it will likely be a two-year wait.
Do you understand that the pipeline is going to a US port city for global distribution? It will not benefit our country nor will it lower your heating bill. Plus, it is an environmentally disastrous extraction process. A private Canadian company is just using our land to sell a product outside our country. Most likely to the Asian market.
Problem is, shipping by rail is very dangerous (there have been many derailments of trains carrying oil). It also benefits Warren Buffet (any surprise Obama blocks the pipeline project?).
It may be more dangerous but it is cost effective and not going away Keystone XL or no Keystone XL.
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