This is a forum based out of Pensacola Florida.


You are not connected. Please login or register

Keystone XL Survived Politics but Economics Could Kill it

View previous topic View next topic Go down  Message [Page 1 of 1]

http://www.newsmax.com/Newsfront/APFN-US-Keystone-Pipeline-Nebraska/2017/08/03/id/805496/

Excerpt(s) from the article:

Low oil prices and the high cost of extracting Canadian crude from oil sands are casting new doubts on Keystone XL as executives with the Canadian company that wants to build it face the final regulatory hurdle next week in Nebraska.

The pipeline proposed in 2008 has faced dozens of state and federal delays, many of them prompted by environmental groups who ultimately persuaded President Barack Obama to deny federal approval in November 2015. President Donald Trump resuscitated the project in March, declaring that Calgary-based TransCanada would create "an incredible pipeline."

"Frankly, in the current price climate, it's probably not going to be a going venture unless there's a massive improvement in technology" for processing Canadian crude, said Charles Mason, a University of Wyoming professor of petroleum and gas economics. Crude oil was trading at around $49.50 a barrel on Wednesday, down from highs of more than $100 in 2014.

The 1,179-mile pipeline would transport oil from tar sands deposits in Alberta, Canada, across Montana and South Dakota to Nebraska, where it would connect with existing pipelines that feed Texas Gulf Coast refineries.

******************************************

I never had confidence in the viability of this project from the get go because of environmental and economic but many here on our forum supported it. A clear case of a political position that is proving to be a bridge too far.

View user profile
Energy source diversity is a good thing unless you believe oil prices will never rise.....

View user profile
If it fails due to market values... that's how it should be.

View user profile
Oil in lower demand, car manufacturers moving to high mileage vehicles and electric plug-ins or hybrids. It looks as if climate change reality is making itself felt in the markets.

Renewable energy, improved battery technology, etc. are on their way in and oil is on its way out. It is past time to move on. The apparent demise of the Keystone pipeline is very good news. It looks as if all the resistance over the years has paid off by bringing us to the point where business recognizes the folly of continuing down the fossil fuel road.

View user profile
Over time fuel costs will increase , I agree gator but the world is currently awash in oil with no end in sight to slow or temper domestic production. It is not a stretch to say this was a political issue lacking substantive factual basis but that's my view and my view lost to political considerations.

View user profile
Mazda just announced they have a developmental internal combustion engine which could alone improve gas mileage by 30% as Tesla has hinted they are about to announce a major battery breakthrough. As solar and wind grow, and as America has a 300 year of known reserves of Natural Gas, the world wide oil glut will get even bigger as the fracking technology moves around the globe. Z told us with clarity that any glut may be short term, but I am beginning to question that the technology is breaking so quickly that the attempts by oil and gas to hinder those alternatives is futile. More efficient use of energy is growing daily.

View user profile

Sponsored content


View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum