ANOTHER DEM JUMPING ONBOARD KEYSTONE XL

http://www.washingtonpost.com/blogs/post-politics/wp/2014/11/12/louisiana-lawmakers-jockey-to-approve-keystone-xl-pipeline/

It is being refined in Illinois as we speak, and the first leg of the pipeline was no big deal.

For her it's about the runoff election

2seaoat wrote:It is being refined in Illinois as we speak, and the first leg of the pipeline was no big deal.

The oil sands represent the third-largest hydrocarbon reserve remaining in the world (168 billion barrels of recoverable oil). I am glad these are located in North America and not the Middle East.

North America has always been blessed with hydrocarbons, and now we have been blessed with the technology to go after resources that were previously untouchable. I would like to think this will give our politicians pause when they consider things like fighting wars over oil owned by Middle Eastern nations.

In the meantime, solar continues to make huge gains on the technological front. Solar will be oil's replacement one day.

Solar road opens in the Netherlands
http://www.cnn.com/2014/11/12/tech/solar-road/index.html?hpt=hp_t2

The oil that the Keystone pipeline would carry to the US costs between $85-$115 per barrel to produce.

Today, oil is trading at $75.29 per barrel.

Calling this a high-school level economics problem would be too kind.  I'm sure I could walk into a classroom of 1st graders and they would grasp this.


http://www.bloomberg.com/energy/

http://finance.yahoo.com/news/economics-no-longer-makes-keystone-153213747.html

When the price war ends it will go back to the required level

Until then...

http://ecojusticecollaborative.org/stop-keystone-xl-game-climate/

Stop Keystone XL or Game Over for Climate

"Tar Sands Oil – One of the Dirtiest Fuels on the Planet
Producing a barrel of oil from the oil sands produces three times more greenhouse gas emissions than a barrel of conventional oil due to the energy-intensive extraction and refining processes. The rapid increase in the development of carbon-intensive, unconventional oil “could tip the scales” towards dangerous and uncontrollable climate change.

If we are going to get serious about climate change, opening the spigot to a pipeline that will export up to 830,000 barrels of the dirtiest oil on the planet to foreign markets stands as a bad idea,” said Anthony Swift of the Natural Resources Defense Council.”
NASA climate scientist James Hansen has warned that continued tar sands mining would be ‘essentially game over’ for the climate.
Yet, despite concerns about climate change and environmental destruction brought about from tar sands oil, more than half the Senate on Wednesday urged quick approval of the Keystone XL oil pipeline, ramping up pressure on President Barack Obama to move ahead with the project just days after he promised in his inaugural address to respond vigorously to the threat of climate change.

In addition to concerns over runaway climate change, tar sands oil is one of the dirtiest fuels on the planet. Here’s what you need to know:

The proposed pipeline would stretch 2000 miles from Alberta, Canada to Texas, threatening to contaminate freshwater supplies in America’s agricultural heartland and increase refinery emissions in already-polluted communities of the U.S. Gulf Coast

Oil sands mining uses twice the amount of fresh water that the entire city of Calgary uses in a year. It takes three barrels of water to extract one gallon of oil.

At least 90% of the fresh water used in the oil sands ends in tailing ponds full of harmful substances like cyanide and ammonia, which has worked its way into neighboring clean water supplies.

Tar sands oil extraction has led to the stripmining of the boreal forest, a natural carbon reservoir home to the rare and threatened woodland caribou and the nesting ground for millions of the ducks and songbirds that wing their way over the United States every year.

Indigenous populations in Alberta are most affected. Communities living downstream from tailing ponds have seen spikes in rates of rare cancers, renal failure, lupus, and hyperthyroidism. In the lakeside village of Fort Chipewyan, for example, 100 of the town’s 1,200 residents have died from cancer.

Processing the oil sands uses enough natural gas in a day to heat 3 million homes.

There is a high probability of spills. TransCanada’s Keystone I pipeline has spilled a dozen times in less than a year of operation. In summer 2010, a million gallons of tar sands oil poured into the Kalamazoo River in Michigan from a pipeline run by another Canadian company, Enbridge.

Refining tar sands oil is dirtier than refining conventional oil, and results in higher emissions of toxic sulfur dioxide and nitrous oxide. These emissions cause smog and acid rain and contribute to respiratory diseases like asthma. Communities near the refineries where the Keystone XL pipeline would terminate, many of them low-income and communities of color, already live with dangerously high levels of air pollution.

The toxic tailing ponds are considered one of the largest human-made structures in the world. The ponds span 50 square kilometers and can be seen from space..."

boards of FL wrote:The oil that the Keystone pipeline would carry to the US costs between $85-$115 per barrel to produce.

Today, oil is trading at $75.29 per barrel.

Calling this a high-school level economics problem would be too kind.  I'm sure I could walk into a classroom of 1st graders and they would grasp this.


http://www.bloomberg.com/energy/

http://finance.yahoo.com/news/economics-no-longer-makes-keystone-153213747.html

Luckily oil has the most stable price history of any natural resource right? Unless a war breaks out (anywhere), unless a baboon farts in the zoo, unless futures traders get spooked by a mini revolution in Cambodia, etc......

by boards of FL Today at 4:34 pm
Until then...

-//--

Nothing

The currently depressed price of oil is a temporary phenomenon. The price is being temporarily held down by OPEC producers who are vying for market share with new production from the U.S. The OPEC countries and Russia are being killed from the reduced revenues caused by the glut, and eventually they will curtail production to bring their revenues back up again.

Then we can blame the price-rise for gasoline on President Obama again......