Posted on 11/21/2024 7:16:29 AM PST by SJackson
President-elect Donald Trump intends to revive the construction of the Keystone XL pipeline on his first day in office—just like President Biden shut it down on his first day in office.
A Politico report citing unnamed sources with knowledge of the situation said that the president-elect’s transition team was discussing Keystone XL with a view to bringing it back to life. “It’s on the list of things they want to do first day,” one of the Politico sources said.
The 1,200-mile pipeline, developed by TC Energy, was supposed to carry some 800,000 bpd of Canadian heavy crude to U.S. refineries. As proponents of the project have noted repeatedly in the past few years, the demand for these Canadian barrels did not die with Keystone XL. Canadian exports of heavy crude to the U.S. have remained high, and breaking records. Only the means of transporting them have changed from pipelines to oil trains.
“The U.S. decision to revoke the permit was unfair and inequitable,” TC Energy said in an arbitration filing back in 2021, with which it sought compensation for the losses it suffered from the cancelation of its project. The pipeline developer noted at the time that the United States had put Keystone XL on a 13-year “regulatory rollercoaster”.
(Excerpt) Read more at oilprice.com ...
BTTT
Only the means of transporting them have changed from pipelines to oil trains.“
Trains owned by Warren Buffet, one of the biggest rat donors.
Canada is an energy superpower. Once they get rid of Justin Dildo, it will boom
Depending on who is making the estimates, Canada is 3rd or 4th in oil reserves, right behind Saudi Arabia.
Tying the US wagon to this horse is an absolute “no-brainer.”
Definitely a good move.
This is EXACTLY what I’ve been waiting, hoping, and praying for!
Would help relations with Canada.
Citing unnamed sources with knowledge of the situation.
Personally I would be utterly embarrassed to write such a line in a non fiction story.
Yessiree! And ANWR, and fracking and any other old pumpjacks that oilers want to try and rehabilitate.
A couple of days ago, I was driving through central Texas and saw a lot of frack sand trucks on the road. I haven’t seen any of those trucks for a couple of years.
Go Trump!
Folks need to recalibrate their thinking.
That pipeline doesn’t define oil output. As noted, trains replaced it. It changes some dollar issues with oil transport, but it has no effect on geology, and never ever forget, geology decides everything in the world of oil and geology doesn’t care about politics. Politics come and go. Geology is always there.
Canada has big reserves numbers. Production is at 5.5 million barrels/day. It is growing, but not fast. They aren’t finding new fields. They are improving flow out of the oil sands.
They consume 2.4 million bpd. Consumption nodes are eastern cities. There are no pipelines to get it there. Too far. Canadian National Railways.
US oil flows northward not to satisfy consumption. To dilute the thick oil from the tar sands. It eventually gets to a refinery and is easier to deal with diluted. But the output of all that may flow back to the US northeast, so this corrupts US oil export numbers.
Anyway, US oil production has been flattening. The shale rock lasted 10-15 years. Not good news, and not politics dependent.
He should revive it of course. Bidet summarily canceled KeystoneXL upon his installation. Trump should likewise cancel the Atlantic offshore wind projects that are in the works east of NJ, DE, and MD
Call it "Save the whales proclamation".
“Trump Wants to Resurrect Keystone XL”
Well duh. That’s a big reason he won the election.
Oil trains are used due to lack of pipeline capacity, but also have economic value due to flexibility and ability to supply crude to East coast refineries.
Canadian Pacific Kansas City also originates a lot of Bakken crude.
I think they found other ways of getting the oil to market.
The key is getting production up and the prices down. Trump needs to encourage THAT, and let the markets figure it out.
Every dollar that oil falls in price, thats a dollar per barrel that Putin doesn’t get. And if oil drops below $60, it is too expensive to get it out of the ground over there. Russia starts to whither.
Go get your booster.
Interestingly, Buffet has moved a lot of his holdings to cash.
He knows something wicked is coming.
There have been issues.
In 2010 when I went to the oil patch on the bakken the railroad depots were small and few.
When I left in 2018 the depots were everywhere and huge.
The trucks transporting the oil still had to wait in line to unload or drive a hundred miles to a different depot.
The pipeline would put a huge dent in that
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