Canada Tells U.S. To Go Fly a Kite (Keystone XL) (March, economy)
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"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. "
I'm not forgetting anything at all ...... it is LAW that the USA may not export OIL to other countries.
PERIOD. That can't be "changed" by Executive Order. It is USA LAW.
Any "waiver" has to do with US Territories OR with Treaties with Canada/Mexico to ship Refined Products (i.e. Gasoline and derivatives) to those who have Treaty negotiations in exchange for Crude.
Bottom Line ...... the USA can't EXPORT Oil from USA ports to China or anyone else -- unless the Congress passes a Law to change to current Law. The Leftist Fairy Tale that the USA will ship OIL to other Countries is an out an out LIE.
1) The export ban is on US produced crude. Not on Canadian crude.
2) South Dakota crude is shipped by rail to the Irving Oil Refinery in New Brunswick, Canada.
How does bringing in more oil supply result in higher gas prices, you ask? Let me walk you through the facts. A combination of record domestic oil production and anemic domestic demand has resulted in large stockpiles of crude oil in the U.S. In particular, supplies of crude in the critical area of Cushing, OK increased more than 150% from 2004 to early 2011 (compared to a 40% rise for the country as a whole). Segments of the oil industry want to import additional supplies of crude from Canada, bypass the surplus crude stockpiles in Oklahoma in an effort to refine this Canadian imported oil into gasoline in the Gulf Coast with the goal of increasing gasoline exports to Latin America and other foreign markets.
CNN's Van Jones says Keystone pipeline only creates 35 permanent jobs
Oh yes, the gold-standard in reliability for FACTS, LMFAO
Kansas pipeline worker Jeremy Rippe knows better.
"Short term, there will be jobs for everyone around here. Then, not many at all," said Rippe, who helps maintain a gas pipeline on the Nebraska-Kansas border.
Rippe saw TransCanada Corp - the company that hopes to build the 1,200-mile (1,900-km) Keystone XL segment as part of a network of pipelines that move oil from Canada to refineries on Texas's Gulf Coast - lay another section of the Keystone line nearby four years ago.
He recalls that there was well-paying union work for scores of local laborers and machine operators for several months. But the jobs dried up as soon as the construction was over. After that, there were just four workers overseeing pumping stations near this Great Plains town of about 60 people.
Keystone has a long history of leaks and spills....12 in one year from a brand new pipeline. Perhaps the jobs that will become available involve cleanup.
I'm not forgetting anything at all ...... it is LAW that the USA may not export OIL to other countries.
PERIOD. That can't be "changed" by Executive Order. It is USA LAW.
Any "waiver" has to do with US Territories OR with Treaties with Canada/Mexico to ship Refined Products (i.e. Gasoline and derivatives) to those who have Treaty negotiations in exchange for Crude.
Bottom Line ...... the USA can't EXPORT Oil from USA ports to China or anyone else -- unless the Congress passes a Law to change to current Law. The Leftist Fairy Tale that the USA will ship OIL to other Countries is an out an out LIE.
Alaska has been exporting oil (other than to the lower-49) for 37 years. Primarily to Taiwan and South Korea, but not to China.
If oil price keeps going down to, say under $90 a barrel, at least the frackers may dry up.... well, only in the unlikely event that the oil corps will allow the price to go too low to make a profit.
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