Monday, April 27, 2015

Never Give Up -- April 27, 2015

I can't wait to see how this one plays out.

Any reasonable person would say that TransCanada lost; the Keystone XL North is dead.

But you have to give TransCanada credit. They figure if President Obama won't let them ship Canadian oil into the US, maybe President "pro-job-growth" Obama will let the Canadians ship North Dakota oil into Canada. I believe the ban against US crude oil exports has a loophole that allows US crude oil to be shipped to Canada.

Reuters via Rigzone is reporting:
TransCanada Corp , whose controversial Keystone XL pipeline project has waited more than six years for U.S. approvals, is asking the Obama administration to approve another pipeline, one that would take American crude oil into Canada.
The company, Canada's No. 2 pipeline operator, said it applied on Wednesday for a presidential permit for its planned Upland pipeline, which will carry as much as 220,000 barrels of oil per day 240 miles from Williston, North Dakota, to meet the proposed Energy East pipeline in southern Saskatchewan near the border with Manitoba.
The $493 million Upland line, announced in February, will take crude from North Dakota's prolific Bakken field, where a shortage of pipeline space has forced producers to ship their crude by rail
Of course, this, too, will never be signed by President Obama -- it will never even reach his desk before he departs Washington, DC, with Loretta Lynch in tow. Twenty-one months.  If folks really were serious about the risks associated with CBR this would be a no-brainer, but the CBR risk is political theater.

No comments:

Post a Comment