Posted on 11/28/2014 9:07:58 PM PST by grundle
"Understand what this project is," Obama said at a Nov. 14 press conference in Burma. "It is providing the ability of Canada to pump their oil, send it through our land, down to the Gulf, where it will be sold everywhere else. That doesn't have an impact on U.S. gas prices."
We asked several energy economics experts, and they believe that quite a bit -- if not most -- of the Keystone XL crude oil will be bought and used by American refineries.
"It’s difficult to say with any certainty, but it is most likely that most would be refined in the U.S.," said Kenneth Medlock, an expert in energy economics at Rice University in Texas.
A recent State Department report argues that it would not be "economically justified" for Canada to primarily export its Keystone XL oil to countries other than the United States, when there are plenty of American refineries to consume it.
Some independent refineries -- particularly those in the upper Midwest, but also in Texas -- are in desperate need of crude oil, said Charles Ebinger, a senior fellow in energy security at the Brookings Institution. Currently, the refineries have to import crude from places like Venezuela and Mexico -- though it would be cheaper and better for overall energy security to buy from a North American source, rather than pay high transport costs.
On Nov. 17, TransCanada told Reuters, it "makes no business sense for our customers to transport oil down to the U.S. Gulf Coast, pay to export it overseas but then pay to transport millions of barrels of higher-priced oil back to the U.S. refineries to create the products we rely on."
Ebinger added that many American refineries are geared to use heavy crude, which is what Keystone would transport from Canada’s tar sands.
Liar, again and again and again.....
Not only is he lying, even if what he said were true, the economic consequences are still a huge benefit to the US. Sorry, Mr. Bozo, but you are an economic illiterate.
Don’t we export much of our oil because we don’t have enough refineries to keep up with demand ?
What a liar.
* What is the fastest growing market for oil consumption?
* What is closer to this market: Houston or Hongcouver?
* How many Democrats flunked Geography?
If that were the case would oil prices not be going up?
My guess would be that we export because it is more profitable to do so.
I’m not sure he’s lying.
The oil and producing it’s conveyance will benefit us. But the oil will be sold to other countries who will refine it.
We may end up buying the refined products from those countries as well. The more there is on the market to sell, and the cheaper it can be moved, the cheaper our fuel costs.
So he’s telling us that increasing supply isn’t going to reduce cost? Apparently another of the laws he feels he can ignore when it doesn’t serve his purposes is the one that covers supply and demand.
The man just plain hates oil ! Apparently his ideal world would be lit by fire, with no cars, aviation, just dirigibles, horses and sailing ships, for there is NO fuel except hydrocarbon-based which can sustain a modern standard of living!
Obama simply cannot be believed or trusted about anything.
He hates non-OPEC oil.
He is. The most important thing Keystone will do is take billions of barrels away from the railroads run by his buddy Warren Buffett and convey them faster, safer and cheaper to the places that oil is already going.
The pipeline will do two things. It crosses through the Bakken, which means its extra capacity will be used to carry US oil to the Gulf. This is oil that currently must be trucked and railroaded out of North Dakota.
The second thing is that it will displace oil currently being brought into Gulf ports by ship.
Saudis own him.
Total Boo Chit!!!
There are two refineries in Cushing, Oklahoma that have been maintained, to current standards and mandated by the US government.
Those two refineries would absolutely be used for refining, as would several further down in Texas and at least two refineries in Louisiana.
I believe there ia also another one in Kansas.
Not only would Keystone oil be used in the US, it would also create thousands of permanent jobs, at the plants and to maintain the pipeline.
FUBO!!!
Quite a
Nailed it.
Then, export the products (legal, and value-added).
And once again the dumbest man in the room speaks about a subject of which he knows very little.
Yeah.
Who the Fu&^ cares what its “for”?
All he knows is its not for HIM.
That’s all that matters to this TurdBurglar.
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