Now today there is a report that another Athabasca deal is in the works. No one is talking, but rumors are Kuwait is buying a piece of the rock, or in this case, a piece of Athabasca.
This, again, makes the Keystone XL less urgent for the Canadians.
I'm probably making too much of this, but just my 2 cents worth. It's just as likely the Kuwaitis, who know oil, simply see this as a great investment, knowing that the Keystone XL will eventually be built. Idle chatter.
Bruce, Does it make sense that it serves oil companies working the Bakken & mineral owners to approve the southern leg of the Keystone first to avoid excaserbating the glut in Cushing & thus further widen the Bakken WTI spread?
ReplyDeleteI don't follow, but regardless, it's not the oil companies or mineral owners that have any say in this. It's all up to the administration.
DeleteI have no opinion about the Keystone XL (good, bad, or indifferent), but I do see the killing of the Keystone XL as a metaphor of this administration's attitude toward the oil and gas industry.
Pushing the price of gasoline to nearly $5.00/gallon (double what it was four years ago) helps the administration's case for pushing for renewable energy (slicers and dicers, bankrupt solar companies).