Posted on 11/05/2014 5:03:57 AM PST by thackney
Republican National Committee Chairman Reince Priebus predicted Tuesday that the GOP regaining control of the Senate would mean a signature from President Barack Obama on a bill to approve the Keystone XL pipeline.
Getting approval for TransCanada’s pipeline, which has been waiting six years to break ground on the project, would be among the top priorities for a Republican-controlled Senate, Priebus told MSNBC’s Daily Rundown.
“We will pass a budget in both chambers, number one, and we will pass the Keystone pipeline, number two,” Priebus said. “And I actually think the president will sign the bill on the Keystone pipeline because I think the pressure — he’s going to be boxed in on that, and I think it’s going to happen.”
The controversial pipeline has been a talking point for both Republicans and Democrats for years, even as TransCanada has found other outlets for oil-sands crude from Alberta.
TransCanada Boosts Keystone XL Cost Nearly 50% To $7.02B
http://www.rigzone.com/news/oil_gas/a/135745/TransCanada_Boosts_Keystone_XL_Cost_Nearly_50_To_702B/?all=HG2
TransCanada Corp, Canada’s No.2 pipeline company, on Tuesday raised estimated capital costs for its controversial Keystone XL project to C$8 billion ($7.02 billion) from an initial projection of C$5.4 billion, citing lengthy delays.
Keystone XL, which would carry as much as 830,000 barrels per day of Alberta oil sands crude to the U.S. Gulf Coast, has been awaiting U.S. presidential permit for more than six years amid bitter opposition from environmental groups...
TransCanada last week filed for regulatory approval of its C$12 billion Energy East pipeline, which will take 1.1 million bpd oil sands crude to refineries and export ports in Quebec and New Brunswick....
Drill, Baby, Drill!
What pressure?! Obama doesn't have to sign anything. The only reason he would sign a Keystone pipeline bill would be responsible behavior. And he has not once done that.
If we do not have enough votes to override a veto, Keystone goes nowhere.
From the Democrats that don't want the same slaughter in 2016 as happened yesterday in contested races.
Obama still expects checks and perks after 2016.
I believe there are enough pro-pipeline Democrats to override a veto.
TransCanada Proposed the project in early 2005.
Oil was ~$50/barrel then.
What a novel idea.
Every demonRAT senator that is up for election in 2016 in a close red/purple state, will jump up and help with the veto override.
This should be first item on the agenda. Will really show American people who is obstructing progress ...
The point of the pipeline is to lower the cost/gallon of shipping the heavy crude oil to the refineries in LA, OK & TX that are most efficient in turning this oil into finished products. They are producing more oil than refineries in Alberta can handle. The oil is already getting to TX, it just costs more money to currently move it there through todays logistics. By completing either the Keystone Pipeline or the other pipeline to the BC coast it lowers the cost to move it to where it needs to go. The difference is by completing Keystone it would allow the TX & LA refineries to PAY MORE FOB Alberta than the Canadians can get for their product from other buyers in Asia. This is because the cost of moving it/gallon is greatly reduced by moving through a pipeline.
The Liberals think that the oil sand extraction in Alberta is the worst SIN against the environment in the world. They know if Keystone gets built, it lowers the cost of moving it to market. Therefore, they would increase production in Alberta and rape the Earth even more. I am speaking from a Liberals point of view(not mine). This is what the fight is all about. It really has nothing to do with Berkshires purchase of the BNSF.
They have a point time is money, I would offer them 7.5 billion, take it or leave it, they will take it, even as prices decline they are still going to profit.
I predict that there are going to be a _lot_ of vetos.
That is their estimated cost. No one else is offering to pay them. That is the money they will spend with many different purchases including internal cost.
even as prices decline they are still going to profit.
Pipeline companies like this are not buying or selling oil. They transport other peoples oil. They could be considered similar to a train or shipping service. Oil could be $10 or $100. Their prices don't fluctuate with oil price, just demand for their services. But as a FERC regulated facility, prices don't change easily.
I said to myself, self you have no clue what you are saying and someone will point that out, I posted anyway, you see I learned something and am now less ignorant. Thanks FRiend!
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