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Keystone XL Pipeline Will Raise Gas Prices.

  • Right now there are not enough oil pipelines to get the oil from the Canadian oil sands to the coasts of Canada or the U.S. so the oil is effectively landlocked in North America. Because that oil is trapped in our market we pay around $15 less per barrel than the Europeans do because our oil cannot reach international markets. http://www.bloomberg.com/news/2012-03-01/keystone-oil-pipeline-seen-raising-gas-prices-in-midwest-energy.html Enbridge is also planning on building another oil pipeline from Illinois to Cushing, Oklahoma which will provide more Canadian oil access to international markets. Enbridge is also building another oil pipeline from the oil sands to Vancouver. These pipelines will inevitably be built but they will not bring down gasoline prices. The oil from the Canadian oil sands already gets to market but a lot of it gets there by train instead of pipeline. The only people who benefit from these pipelines in the longrun are people like me, who own stock in the Canadian oil sands companies and the pipeline companies. The operators in the Canadian oil sands only get around $80 per barrel for oil because it is more expensive to ship it by train and the oil is mostly trapped in North America. When those pipelines are finally built they will get closer to the Brent crude price of $115 which will send their profit margins through the roof. If you want our oil to stay significantly cheaper than Brent crude you should definitely be cheering for new oil pipelines to not get built.

    This post has been edited 2 times, most recently by ng164300 on 4/30/2012 at 4:22 PM

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    ng164300

  • Thanks for having some knowledge and sense, agreed! It would be used to export oil not lower our prices.

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    DSBUX

  • I don't know why people pretend that Obama blocked the Keystone XL pipeline for political reasons. Obama never said he didn't want the pipeline just that the route needed to be changed. The old pipeline route went right over top of a large shallow water aquifer so the State of Nebraska objected to the route due to environmental concerns. Nebraska is as Republican as it gets so if they are concerned about environmental impact it should probably be taken seriously. The pipeline route has now been changed and Nebraska approves of the reroute so it will probably speed up the pipeline approval process significantly. http://whitehouse.blogs.cnn.com/2012/04/18/keystone-xl-pipeline-builder-proposes-new-route/

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    ng164300

  • Would it be cheaper to build a refinery specifically designed for this oil in the north?

    davebucknut

  • davebucknut said...

    Would it be cheaper to build a refinery specifically designed for this oil in the north?

    EPA wouldn't allow it, thank gosh that little PUKE resigned today from the EPA........

    minsterbuckeye

  • The problem I have is how long it has all been tables and gone without action.

    shaunsimpson

  • The problem is we have too many of the wrong kind of refineries. We have too many refineries that process light oil and not enough refineries that can process the heavy crude from the oil sands. While we haven't built a new refinery lately Conoco Philips did double the capacity of their Illinois heavy oil refinery. http://www.reuters.com/article/2011/10/26/conocophillips-woodriver-idUSN1E79P1HN20111026

    This post was edited by ng164300 on 4/30/2012 at 4:20 PM

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    ng164300

  • ng164300 said...

    Right now there are not enough oil pipelines to get the oil from the Canadian oil sands to the coasts of Canada or the U.S. so the oil is effectively landlocked in North America. Because that oil is trapped in our market we pay around $15 less per barrel than the Europeans do because our oil cannot reach international markets. http://www.bloomberg.com/news/2012-03-01/keystone-oil-pipeline-seen-raising-gas-prices-in-midwest-energy.html Enbridge is also planning on building another oil pipeline from Illinois to Cushing, Oklahoma which will provide more Canadian oil access to international markets. Enbridge is also building another oil pipeline from the oil sands to Vancouver. These pipelines will inevitably be built but they will not bring down gasoline prices. The oil from the Canadian oil sands already gets to market but a lot of it gets there by train instead of pipeline. The only people who benefit from these pipelines in the longrun are people like me, who owns stock in the Canadian oil sands companies and the pipeline companies. The operators in the Canadian oil sands only get around $80 per barrel for oil because it is more expensive to ship it by train and the oil is mostly trapped in North America. When those pipelines are finally built they will get closer to the Brent crude price of $115 which will send their profit margins through the roof. If you want our oil to stay significantly cheaper than Brent crude you should definitely be cheering for new oil pipelines to not get built.

    I encourage you to do more homework on this. the WaPo factchecker dated 03/02/12 says the pipeline won't impact gas prices either way. Sorry, I'm ipad challenged and having trouble posting the link.

    What is not in dispute is that this will be a boon to the economy and a job creator.

    Cherry pick and down vote away!

    sarasotabcg

  • ng164300 said...

    I don't know why people pretend that Obama blocked the Keystone XL pipeline for political reasons. Obama never said he didn't want the pipeline just that the route needed to be changed. The old pipeline route went right over top of a large shallow water aquifer so the State of Nebraska objected to the route due to environmental concerns. Nebraska is as Republican as it gets so if they are concerned about environmental impact it should probably be taken seriously. The pipeline route has now been changed and Nebraska approves of the reroute so it will probably speed up the pipeline approval process significantly. http://whitehouse.blogs.cnn.com/2012/04/18/keystone-xl-pipeline-builder-proposes-new-route/

    I think we should take the White House approach and crucify those oil executives to send a message.

    Way too much proof of the POTUS and his administration wanting European gas prices.

    AtlantaBuck ●

  • AtlantaBuck said...

    I think we should take the White House approach and crucify those oil executives to send a message.

    Way too much proof of the POTUS and his administration wanting European gas prices.

    the truth shall set u free....democraps.....from bankruptying the coal companies, to that little puke saying he wants to crucify the oil companies........the OBAMA adminstration at its finest........

    minsterbuckeye

  • sarasotabcg said...

    I encourage you to do more homework on this. the WaPo factchecker dated 03/02/12 says the pipeline won't impact gas prices either way. Sorry, I'm ipad challenged and having trouble posting the link.

    What is not in dispute is that this will be a boon to the economy and a job creator.

    Cherry pick and down vote away!

    The point of my thread was to show that the argument for building the pipelines to lower gas prices is a false one. Republican politicians have been acting like this pipeline will cure the problem of high gas prices but according to the analysts in the oil and gas industry the Keystone pipeline will raise prices at least in parts of the country. The Washington Post also fact checked the number of jobs this project would create and found a number of around 13,000 temporary jobs over 2 years. That is hardly the economic boon people make it out to be. I support these pipelines being built but the benefits of them are small and not worth the time the story gets in the media.

    This post was edited by ng164300 on 5/1/2012 at 1:24 PM

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    ng164300

  • ng164300 said...

    The point of my thread was to show that the argument for building the pipelines to lower gas prices is a false one. Republican politicians have been acting like this pipeline will cure the problem of high gas prices but according to the analysts in the oil and gas industry the Keystone pipeline will raise prices at least in parts of the country. The Washington Post also fact checked the number of jobs this project would create and found a number of around 13,000 temporary jobs over 2 years. That is hardly the economic boon people make it out to be. I support these pipelines being built but the benefits of them are small and not worth the time the story gets in the media.

    And how many temporary jobs did Obama's trillion dollar stimulus bill create? At least the pipeline won't run up the national debt

    pazbuc ●

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    sarasotabcg

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