A New Poll: Was The Policy Decision to Kill the Keystone XL the Number One Reason For The All-Time High Gasoline Prices We Are Now Seeing?

Time for a new poll.

First the results of the current poll.

The question: Within a few months of production, even if gas is flared, mineral rights owners are paid for the flared gas at market rates (in ND).

• Yes: 23%
• No: 77%

I believe the "better" answer is "no." If I recall, North Dakota allows a 12-month grace period before requiring reimbursement for flared gas to be paid, and the state can grant a waiver extending it another six months. However, by 18 months, royalty owners should see reimbursement from flared gas. This is my understanding; not necessarily absolutely accurate. For most respondents, "18 months" is a bit more than "within a few months."

Now the new poll.

Long-time readers know that I never intended to post articles about the Keystone XL. When I first started the blog, I limited my oil and gas posts to the Bakken. But because of reader interest, I posted my first Keystone XL post a long, long time ago, saying I had no dog in that fight and had no interest in that story.

However, over time, it became a much bigger story than I thought it would ever become, and it has become a regular feature of the blog for any number of reasons.

Long-time readers also know that I have opined over and over the killing of the Keystone XL will not affect the price of gasoline in the short term (2012 - 2016) in the United States. There is a glut of US shale oil and plenty of global oil, making the Keystone XL unimportant at this time. At least that's what I've been saying for the past two years.

I am now convinced that I am very, very wrong.

I will post later why I think the policy decision to kill the Keystone is directly responsible for the historically highest gasoline prices on record for this time of the year. But before I do, a new poll.

Was the policy decision to kill the Keystone XL the number one reason for the all-time high gasoline prices we are now seeing, as reported by the Christian Science Monitor?

[Added, February 17, 2012, 12:48: "Obama rejects Keystone project from Canada to Texas," USA Today, January 18, 2012.

Russ Girling, president of TransCanada, the pipeline's builder, said the company would reapply for permitting and asked for the application to be processed in time to get the pipeline online by 2014.

Obama said House Republicans forced his decision by including a provision in last month's legislation for a short-term extension to the payroll tax cut that required him to either issue a permit to allow the 1,700-mile pipeline to be built or explain why it was not in the national interest by Feb. 21.]