Data points:
- will twin the existing 714-pipeline from Edmonton, Alberta, to Barnaby, British Columbia
- 20-year contracts for additional 510,000 bbls/day; 150,000 bbls less -- some shippers did not get board approval
- currently 300,000 bbls/day
- will expand to about 750,000 (that's what the article said; the numbers don't quite add up)
- $4.1 billion
Does this mean Keystone XL is dead ?
ReplyDeleteWow, one could find arguments both side of that coin.
DeleteOn the one hand, I'm sure TransCanada would say "no way." And in an earlier post, it was pointed out that the area (including northern Montana and North Dakota, including Canadian oil sands) could eventually supply four to five "XL" pipelines.
But this press release coming at this time (they obviously had to be working on the for several months) certainly seems to have been made in light of the decision to kill Keystone XL 1.0, as I call it.
My hunch is this is an "insurance policy" just in case the XL is not built, and even if it is, there will be enough oil for all pipelines.