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03-24-2014, 07:29 AM
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#1
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Valued Poster
Join Date: Mar 31, 2010
Location: Houston
Posts: 15,054
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Keystone Pipeline.......again
http://www.nbcnews.com/news/investig...t-built-n59026
This is a pretty interesting article.
President Obama needs to decide whether he is going to allow the oil to be brought into and used in The United States, or sold to other Countrys such as China.
The Sierra Club is being a little naive. The Canadians are not going to just let all of that money stay in the ground. They will sell it to somebody, whether it is transported by pipeline, rail, or ship.
It would seem they would want it to stay in The USA, where we have much more stringent environmental laws, rather than go overseas.
But regardless, the crude will be sold to someone.
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03-24-2014, 09:27 AM
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#2
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Valued Poster
Join Date: Mar 28, 2012
Location: Tel Aviv
Posts: 6,287
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How much will the US make in taxes, and will the Canadians have to post a bond to cover spills?
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03-24-2014, 10:12 AM
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#3
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Valued Poster
Join Date: Mar 31, 2010
Location: Houston
Posts: 15,054
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Quote:
Originally Posted by Jewish Lawyer
How much will the US make in taxes, and will the Canadians have to post a bond to cover spills?
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If the oil never comes into the US, why would that be of a concern?
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03-24-2014, 10:54 AM
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#4
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Valued Poster
Join Date: Mar 28, 2012
Location: Tel Aviv
Posts: 6,287
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I'm asking what the scenario would be in the event it is approved. It is really just a business proposition that has been turned into a national security issue. We have lots of oil in Texas, anyway, and Cushing, Oklahoma has so much oil that WTI trades at a discount to Brent.
So what's our profit, and what is the risk coverage?
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03-24-2014, 11:25 AM
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#5
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Lifetime Premium Access
Join Date: Jan 1, 2010
Location: houston
Posts: 48,267
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It is way less risky to ship it by pipeline to Texas than by rail across Canada.
Like Jackie said...it is going to be sold. It is a huge problem for Canada with what they are doing to their land.
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03-24-2014, 11:48 AM
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#6
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Valued Poster
Join Date: Mar 28, 2012
Location: Tel Aviv
Posts: 6,287
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Quote:
Originally Posted by WTF
It is way less risky to ship it by pipeline to Texas than by rail across Canada.
Like Jackie said...it is going to be sold. It is a huge problem for Canada with what they are doing to their land.
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If we (in the sense that we are the USA taxpayers) do not benefit from it, fuck it, let them sell it to China - who gives a fuck? It really just goes into a world wide trading system for oil, and affects the Brent crude price that everyone more or less pays around the world, and slightly helps out against OPEC. No need to take land or risk the aquifer unless we profit.
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03-24-2014, 11:52 AM
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#7
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Valued Poster
Join Date: Feb 9, 2010
Location: Here
Posts: 14,191
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ne more pipeline won't hurt.... much
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03-24-2014, 11:52 AM
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#8
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Account Disabled
Join Date: Jan 20, 2011
Location: kansas
Posts: 28,773
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Wonder how many here think the US will ever see any of the oil after it is refined.
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03-24-2014, 12:11 PM
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#9
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Lifetime Premium Access
Join Date: Jan 1, 2010
Location: houston
Posts: 48,267
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Quote:
Originally Posted by Jewish Lawyer
If we (in the sense that we are the USA taxpayers) do not benefit from it, fuck it, let them sell it to China - who gives a fuck? It really just goes into a world wide trading system for oil, and affects the Brent crude price that everyone more or less pays around the world, and slightly helps out against OPEC. No need to take land or risk the aquifer unless we profit.
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We only profit as a whole if we keep from shipping the refined crude to other nations.
If my memory serves me correctly there was some law stuck in so as not to be able to tax this crude properly if it is shipped out as a refined product. Here are some links...
http://search.yahoo.com/search;_ylt=...m-1_0-zg-rp-rp
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03-24-2014, 12:15 PM
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#10
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Valued Poster
Join Date: Feb 9, 2010
Location: Here
Posts: 14,191
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Quote:
Originally Posted by WTF
We only profit as a whole if we keep from shipping the refined crude to other nations.
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its Canadas oil, how does that work ?
oh wait...
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03-24-2014, 12:22 PM
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#11
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Valued Poster
Join Date: Feb 5, 2013
Location: Houston, Texas
Posts: 595
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Correction, we would only profit if the crude being sent by Canada could be refined in Texas with a higher profit margin then what gets imported.
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03-24-2014, 12:22 PM
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#12
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Lifetime Premium Access
Join Date: Jan 1, 2010
Location: houston
Posts: 48,267
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Quote:
Originally Posted by CJ7
its Canadas oil, how does that work ?
oh wait...
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That is the problem. Without that refined crude staying here, driving down the price of gas....we get no benefit as a nation. Only special interest benefit. And we give huge tax breaks to the people that benefit.
http://priceofoil.org/2012/02/08/key...yer-subsidies/
When the work finishes later this year, this refinery will become the largest in the United States. It will have the capacity to process up to 325,000 barrels per day of heavy sour oil. The United States is not a significant producer of heavy sour oil. Countries that are expected to increase their production of this difficult-to-process crude include Canada (tar sands), Venezuela, Colombia, Saudi Arabia and Kuwait among others. So the subsidy received by this refinery is directly to enable the processing of a particularly dirty form of oil that is not produced in America.
Hmm, what was it pipeline proponents, including the owners of these refineries, were saying about reducing dependence on oil from hostile and unstable countries?
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03-24-2014, 12:33 PM
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#13
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Valued Poster
Join Date: Feb 5, 2013
Location: Houston, Texas
Posts: 595
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WTF...only had a chance to scan that article but it looks like the Saudi's got a win / win out of that one.
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03-24-2014, 12:49 PM
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#14
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Lifetime Premium Access
Join Date: Jan 1, 2010
Location: houston
Posts: 48,267
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Quote:
Originally Posted by SAUrbanAnimal
WTF...only had a chance to scan that article but it looks like the Saudi's got a win / win out of that one.
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Our Keystone pipe lover do not like to talk about subsidies unless it is for poor black kids. They hate those subsidies. They are silent on big oil subsidies ... wait LL may chirp in to defend them.
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03-24-2014, 12:51 PM
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#15
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Valued Poster
Join Date: Feb 9, 2010
Location: Here
Posts: 14,191
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refine oil where, in one of the new refineries the oil companies refuse to build or let anyone else build ?
square one again.
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