Quote:
Originally Posted by Whirlaway
Why wouldn't you want it? There are no costs to the American taxpayer, minimal environmental risks.
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Really no costs?
The refineries that are linked to the Keystone XL tar sands pipeline as
committed shippers will receive between $1 billion and $1.8 billion in tax breaks. They are paid specifically for investing in equipment to process the heavy sour oil the pipeline promises to deliver.
The largest of these refineries,
Motiva, is half owned by Saudi Refining Inc., and will receive between $680 million and $1.1 billion in U.S. taxpayer support.
Keystone XL, like all oil industry projects, is enabled by substantial taxpayer subsidies. Three of the refineries that are planning to process the pipeline’s oil have invested in special equipment to handle the extra heavy tar sands oil. According to our conservative estimates, the U.S. taxpayer is subsidizing these investments to the tune of $1.0-1.8 billion. Here’s how it works.
http://priceofoil.org/2012/02/08/key...yer-subsidies/
