I'm not sure the pipeline will flood the market, as the Tar Sands bitumen is a very heavy crude. More likely it would displace Venezuelan feedstocks and other heavy crude, which in turn would go to China and India. If Keystone isn't built, the Canadians will build a pipeline to the west coast and sell to the Far East instead.
You are probably correct. But I doubt with 0 inherited $$$ that he has any idea how his interest fit into the larger scene. He certainly isn’t the brightest bulb but he may be of the same screwy shape. ;-)