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View Diary: Administration will reject Keystone pipeline, for now (158 comments)

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  •  Talking point that irks me most: (4+ / 0-)

    That Keystone XL was about "bringing Canadian oil to American refineries". It was already going to American refineries, in the Midwest. And there's existing capacity to send more of it there every day than they can get out of the tar sands right now.
    But they were ending up with too much of their oil in the Midwest - from TransCanada's own 2008 application for Keystone XL:

    "Existing markets for Canadian heavy crude, principally PADD II [U.S. Midwest], are currently oversupplied, resulting in price discounting for Canadian heavy crude oil. Access to the USGC [U.S. Gulf Coast] via the Keystone XL Pipeline is expected to strengthen Canadian crude oil pricing in [the Midwest] by removing this oversupply. This is expected to increase the price of heavy crude to the equivalent cost of imported crude. The resultant increase in the price of heavy crude is estimated to provide an increase in annual revenue to the Canadian producing industry in 2013 of US $2 billion to US $3.9 billion.”

    The whole point of Keystone XL was to reduce the amount of Canadian oil going to US refineries in the Midwest - raising fuel costs in the heartland as a result. Soem US refineries have even filed lawsuits against TransCanada to get out of fees for what is already an overly expensive pipeline network with excess capacity. XL would only have made that worse.

    But the proponents don't think at that level of detail. To them, it's about "bringing oil to America".

    "Money has no motherland; financiers are without patriotism and without decency; their sole object is gain." - Napoleon Bonaparte (attributed)

    by Jaxpagan on Wed Jan 18, 2012 at 10:07:10 AM PST

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