Updates
November 8, 2012: a reader sent me this link -- the Canadian perspective on the Keystone following election results.
November 7, 2012: note the five (5) headwinds facing approval of the Keystone XL 2.0. Now we can add another: Nebraska faux environmentalists will still fight it. The Nebraska Sandhills issue was just a charade. Link here to Dickinson Press. [We haven't even added the lawsuits yet to tie the whole thing up in courts.]
TransCanada spokesman Shawn Howard says the company believes Obama will eventually approve the Keystone XL project once it reaches his desk next year because it will deliver oil from a friendly country.And I believe in the tooth fairy.
Original Post
Results of the last poll:
Will XOM buy more Bakken acreage in the next 12 months, or are they done (this follows the XOM-DNR deal in late 2011)?
- Yes, XOM will buy more Bakken acreage in the next 12 months: 72%
- No, XOM will NOT buy more Bakken acreage in the next 12 months: 14%
- Don't care: 10%
- No opinion: 5%
In light of the issues facing the Canadian oil sands, will TransCanada build the Keystone XL 2.0?
These are some of the issues facing TransCanada:
- oil sands are prohibitively expensive; already some operators are scaling back
- Texas landowners are gaining clout to have this pipeline stopped
- little urgency by US to re-consider the permit application
- with relative glut of oil and risk of economic downturn, investors see little need for another huge pipeline
- Asians are more interested in Canadian oil than Americans; and Asians are buying Canadian oil sands
So, the poll:
- Am I wrong; yes, the Keystone XL will be completed during this administration, vote "yes"
- Am I wrong; no; the Keystone XL will not be completed during this administration, vote 'no."
