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View Diary: Guess who's the major stakeholder in Canada's oil sands? Of course, it's the Kochs (101 comments)

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  •  Lately, I've often thought of something my ... (7+ / 0-)

    Canadian husband said quite a few years ago (c. 1999).  I don't even remember what we were talking about but he started telling me about the Canadian oil shale deposits.  What he said next has stuck with me:  'it's a very expensive process to extract oil from that shale and oil would have to go to about $100/barrel to make it profitable.'

    At the time, oil was going for about $33/barrel and it seemed impossible that it would ever hit $100.
    Then, in November, 2007, it did = $102.04.

    Crude Oil Price History, 1970 to Present.

    That chart shows the January, 2014 price at $94.88.

    The Keystone XL pipeline, if built, will lower shipping costs and be a big factor in keeping fracking profitable for the Koch brothers, et al.  

    On top of all the other reasons to oppose Keystone XL (and there are many), lowering the profit for the Koch brothers, potentially slowing their interest in fracking, is a huge one.

    They don't win until we quit fighting!

    by Eyesbright on Thu Mar 20, 2014 at 02:54:11 PM PDT

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