Posted on 01/31/2008 10:16:35 PM PST by jdm
The United States' oil dependence on Canada, already America's largest supplier, is about to grow under a plan to build a new pipeline to transport oil from the tar sands of Alberta into the central part of the nation.
TransCanada Corporation, a public company traded on the New York Stock Exchange, has announced the TransCanada Keystone Pipeline has been given a final Environmental Impact Statement approval from the U.S. Department of State because of the limited adverse environmental impacts that are expected.
The approval is the result of nearly two years of analysis of the project proposal by more than a dozen U.S. federal agencies and other interested stakeholders.
Now that the EIS is finished, TransCanada expects to receive authorization soon to begin the construction and operation of the pipeline at the U.S./Canada border crossing.
The pipeline, planned for 2,148 miles, will bring oil from Hardisty, Alberta, Canada, to U.S. markets in Illinois and the Midwest, with an extension down to Cushing, Okla.
Just last week ConocoPhillips and TransCanada announced ConocoPhillips had acquired a 50 percent ownership interest in the Keystone Pipeline.
(Excerpt) Read more at wnd.com ...
BTTT
It is the oil industry in Alberta that is booming, particularly the tar sands.
I think there was some confusion in that discussion. They may have been referring to more expensive to drilling new wells.
But prices for Natural Gas are very high compared to historical prices.
Natural Gas Wellhead Price
http://tonto.eia.doe.gov/dnav/ng/hist/n9190us3M.htm
Frankly its a win win for Canada and the US. The more North American oil production the US can rely on the better - to finally be free of Islamic oil.
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