Oil is Dead: TransCanada asks U.S. to pause Keystone XL pipeline process

mentalfloss

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,817
471
83


TransCanada asks U.S. to pause Keystone XL pipeline process

WASHINGTON - In a surprise move, the company behind the controversy-plagued Keystone XL pipeline has asked the U.S. government to temporarily suspend its application.

That request from TransCanada Corp. (TSX:TRP) adds a new wrinkle to one of the biggest Canada-U.S. political irritants of recent years, involving a pipeline from Alberta to Texas.

The request comes in a letter to U.S. Secretary of State John Kerry.

It asks the American administration to delay its decision on a border-crossing permit, pending an ongoing dispute in Nebraska over the route.

If heeded, that request could potentially have two major implications: First, it could spare the company a potential rejection from U.S. President Barack Obama.

It could also punt the issue beyond the 2016 U.S. election, making it a campaign issue and placing the file in the hands of a future administration.

The request is a stunning turn of events for the project that would carry nearly one-quarter of all Canadian oil exports. Until recently, the company and the Conservative government had been pleading for approval soon.

Pipeline company TransCanada asks U.S. to pause Keystone XL process | National Newswatch
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
120,139
14,845
113
Low Earth Orbit
D-e-l-a-y not d-e-a-d




Senior Petroleum Analyst Dan McTeague with GasBuddy.com says this is because the BP pipeline in Washington state is shutting down later this month for maintenance.

"Those who have commitments and obligations to fulfill, as far as gas stations are concerned, have been driving up the price in order to secure enough gasoline to get them through that period of time," he says. "That's why we've seen this across-the-board increase."

McTeague points out this means you can't duck into the States to fill up on the cheap, either.

"Blaine, Bellingham, Point Roberts, all of those areas, they are reflecting those higher prices, they too have to rely on that same BP Olympic pipeline and as a result, the deals, while they're there simply because of the currency differentials and less tax, are nowhere near what they would normally be, which is 20 to 25 cents a litre less."

McTeague explains the market is volatile right now with supply not meeting demand. Prices are expected to surge across not only BC but the rest of Canada after Monday.

"There just isn't enough gasoline to go around, those are trying to get it, they're being told that they'll have to pay a lot more for it and those prices are now being passed on to consumers," he says. "It's really a story that affects everybody from Vancouver Island all the way up to Thunder Bay, Ontario, to the far North."

McTeague advises you that the sooner you fill up, the easier to will be on your wallet.
 
MHz

MHz

Time Out
Mar 16, 2007
41,030
43
48
Red Deer AB
Ontario should jump on this as the time to double their current capacity and then, . . . . make something that has some lasting value. NOVA can ship you clean pellets and a broken line is easy to clean up. Sask should have some cheap heating products and Manitoba already has storage and rail facilities already in place.
 
MHz

MHz

Time Out
Mar 16, 2007
41,030
43
48
Red Deer AB
$100 buck a vehicle and the weekend would rake in about 10k (and to repairs, I would bring and LGP dozer or a skidder all chained up, why fuk around right?
 
mentalfloss

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,817
471
83
Kill it now so the curmudgeons can get a real job.

So two things can happen now. The State Department could say, fine, we'll hit pause on our review — and essentially kick the decision to the next president. Obama wouldn't have to deal with this headache anymore. It'd be decided by the 2016 election. Hillary Clinton and Bernie Sanders have said they'd veto the project, while Republicans like Ben Carson, Jeb Bush, and Marco Rubio have said they'd approve it. (Donald Trump's position on Keystone is... well, it's Trump.)

Or, Obama could come out and say, nope, I'm rejecting this pipeline right here and now. Environmental groups like 350.org are currently urging him to do just that. A formal rejection would make life much more difficult for TransCanada. The company would either have to restart the difficult and costly application entirely from scratch — or, more likely, abandon the pipeline altogether.


http://www.vox.com/2015/11/2/9661636/keystone-pipeline-transcanada-suspend
 
Last edited:
C

Cliffy

Standing Member
Nov 19, 2008
44,850
193
63
Nakusp, BC
JLM said:
Do you think electricity will reduce wear and tear and heating of moving parts?
Click to expand...
During WW11 the US Air force used hemp oil to lubricate their engines. There is no need for crude. Plastics are superior to crude, paper, clothing. all superior products and annually renewable. Dirty crude is a dinosaur of an industry and deserves to become extinct.
 
You must log in or register to reply here.
Top Bottom