Well, one effect it says is that oil producers want to start exporting again. So is this why we want the XL Pipeline, so big oil can start exporting again? I thought it was supposed to be used here?
>> I thought it was supposed to be used here?
Who cares? Oil is a fungible commodity. Just pump more; whether sold here or abroad, it will benefit all of US.
I think the Brent price has been tracking higher than the US price...ie there’sa glut here in the midwest...and the producers would rather put the oil on a ship in Houston and ship it to a refinery in New Jersey.
So my price of gas in the midwest will go up.
But no matter what, they are going to find a way to get that oil to an international market. May as well be Keystone and not shipments straight to the Chicoms.
If we deal with Canada on the pipeline, they give us a discount on what we buy. And yes, we will get to buy some of the oil and refine it also.
So, more dependable supply, and lower prices.
Morning gleeaikin. Please pardon me for not answering your question. I just wanted to acknowledge your ping and thank you for the ping.