Wednesday, April 3, 2013

Why the Keystone XL is bad - for Canada, for the U.S.

1 comment:

  1. There was other news that should be considered :

    --- In December, North Dakota, Ohio and Pennsylvania – all leading shale development states – produced more barrels of oil a day than Iran exported.
    --- In December, for the first time in 40 years, China passed the U.S. as the world’s leading oil importer.
    --- The Energy Department said crude oil supplies grew by 2.7 million barrels, or 0.7 percent, to 388.6 million barrels in the week ended March 29. The nation's supply of oil is now 7.2 percent above year-ago levels and the highest since July 27, 1990, when it was at 391.9 million barrels.
    --- Oil production in the U.S. is about 7.1 million barrels a day, up 22 percent from a year-earlier and the highest in two decades.
    --- Oil refineries operated at about 86 percent of capacity last week.

    Ed Markey (D-MA-05 and hopefully soon-to-be-Senator) accurately describes the situation that America will become “re-export of refined fuels” as there is no guarantee that even a drop of the tar-sands oil and fuels will stay in this country ... and since the refined product would be shipped overseas, it would be exempt from corporate taxes.

    Keystone is unnecessary ... we are producing enough oil now ... and do not have the capacity to sell it overseas.