No Excuses: Keystone XL Pipeline Clears Major Hurdle

[thereisnospoon]

They desperately need a new entry point. You won't find anyone who says otherwise (with any credibility), Democrat or Republican.

Stimulus money was spent by 2011. One third of it was tax cuts. A lot of it was in Green initiatives, which I took advantage of.

Green initiatives? Such as Solyndra?
What tax cuts?
The nearly one trillion dollars in stimulus money was thrown down a rat hole.
Most of it was used to preserve ( temporarily) unionized public employee jobs. Most of which no longer exist.
Let us not forget those 'shovel ready projects'..

Holy shit! How big of a fucking idiot are you, anyway?

Stewart claims that the stimulus bill is one-third tax cuts | PolitiFact

The Stimulus Plan: The Tax Cuts - ProPublica

Tax cuts and incentives for families, individuals and small businesses provided by the 2009 economic stimulus package

I've now decided that you are too fucking stupid to take seriously any longer.

Excuse me....When did you decide you though you could insult me at will.....based on a debate?
Look pal, I come here to discuss issues. If you want to get into a contest of insults, remember this, I don't give a rat's ass about forum rules.
So, if you want your entire existence blasted all over the place, it's your call.
Anyway, tax cuts schmax cuts. That is immaterial.
The fact is the money should NEVER have been spent. Period.
It did NOTHING positive. You support the plan simply because it was Obama's idea.
Your blind loyalty is noted.
Each point you've made has been shot down, crashed and burned.
I accept the fact that you are a true believer. So be it.

 

[tinydancer]

Are you engaging in selective reading?

None of this tar sand oil is bound for U.S. markets. All of it is going overseas.

We're your number one supplier and have been for years. You've been getting Athabasca oil sands oil for years on end.

Call it what you will. You've been buying it for forever.

And pray tell why would we stop selling to you?

AND we already ship to Asia from a current pipeline in place from Alberta to the coast.

You know. A coast. Like in Canada has a province in the west that borders the freaking Pacific Ocean for crying out loud.

See this diagram. See the freaking black line from Alberta to Vancouver? See that big mass of nothing to the left of Vancouver.

That's called the fucking Pacific Ocean Jack.

Good! Send it all across Canada! We don't want it endangering America The Beautiful (in ANY language).

You're shit out of luck darlin. You already import a million barrels a day and have for a long time without an issue.



Transportation

Canada is the largest source of oil imported by the United States, supplying nearly a million barrels a day from oil sand sources.

Athabasca oil sands - Wikipedia, the free encyclopedia

Now if you want to tell your government you want only oil from dictators and from countries who employ slave labor in the oil fields by all means go ahead.

 

[thereisnospoon]

I do know that. They've said so.

We are awash in fossil fuel: why isn't our gas down to $0.99 like it was the day Clinton left office?

Commodities trading and taxes.
Here in NC we pay almost 70 cents per gallon when state sales, highway and federal taxes are considered.
Oil is a valuable commodity. it is not just a fossil fuel. It is a way to make money.
There is nearly 100 times more money in the oil markets than there was ten years ago. Back then a days trading was measured in the millions of dollars. Today it's hundreds of millions.
Many pension funds are heavily invested in commodities. So are 401k's and other index, ETF and other funds. Oil is also used as a hedge against the US Dollar. If the US Dollar falls, traders buy up oil and gasoline futures.
Do I like paying $3.25 per gallon for gas? No. But I understand the marketplace.
Funny, I don't hear any bitching when the price falls to historic lows as it did in 2008 just after the recession began. or in 1998 when traders bet on the price continuing to rise to levels never seen before. or in 1991 right after the gulf war started and the price of a barrel of oil tripled in a week, only to fall below the level is started a week before the first shot was fired. Traders thought there was among other things, an embargo by the Arab members of OPEC and a supply interruption from Saudi Arabia due to military activity.

Wall St. speculation costs between 40 and 80 cents per gallon. FAIL.

What? Ok....you have a link to this, yes?
This ought to be good.
Oh.....When the price of oil was over $140 per barrel, you libs were screaming from the roof tops, "regulate the speculators!!!!!!"....You people were incensed over the fact that your dear friends in Washington, those geniuses like Maxine Waters who once said during a hearing that "we will nationalize your business", speaking to oil company representatives.
Now, you claim commodity speculation adds just 40 to 80 cents per gallon of gas.....
Your opposition to Keystone is based not in logic, but solely on emotion.

 

[Luddly Neddite]

I recently noted that there would only be 35 permanent jobs resulting from this pipeline. Today, I heard the number is expected to be as high as 50. I don't think that counts the constant repairs and clean up from spills.

No oil for the US. Benefits only Canadian companies.

Spills are now so common, only the biggest are reported. There are so many breaks in the Alaskan pipeline, its not even considered news any more.

 

[Luddly Neddite]

Because you want and need our oil and have for years.

Ah you believe in the myth of dirty tar sands. Despite your latest review by your government. Got it. I'll tackle that tomorrow.

Why don't you think about this? We've been your number one supplier for many a year now.

Canada provides you with "ethical oil". Our country is not run by a dictator. All who work in the oil fields are paid more than handsomely with fabulous benefits.

Our First Nations profit greatly from the contracts and thousands of First Nations are employed directly or indirectly in a remote part of Canada.

We don't starve or brutalize our peoples. We have fabulous human rights compared to the middle east. We pay everyone awesome amounts who work in the oil industry as compared to Venezuela.

And the carbon footprint from transporting our oil to your refineries is miniscule compared to you shipping in tanker loads from the Middle East or from Venezuela.

Let alone the damage from a leak is minor compared to a tanker swamped at sea releasing thousands of barrels of oil into the ocean and corrupting the seas.

Don't you care about the planet Syn?



Ethical oil. It's the way to go.

Are you engaging in selective reading?

None of this tar sand oil is bound for U.S. markets. All of it is going overseas.

We're your number one supplier and have been for years. You've been getting Athabasca oil sands oil for years on end.

Call it what you will. You've been buying it for forever.

And pray tell why would we stop selling to you?

AND we already ship to Asia from a current pipeline in place from Alberta to the coast.

You know. A coast. Like in Canada has a province in the west that borders the freaking Pacific Ocean for crying out loud.

See this diagram. See the freaking black line from Alberta to Vancouver? See that big mass of nothing to the left of Vancouver.

That's called the fucking Pacific Ocean Jack. Then the oil gets loaded onto tankers to customers in Asia. Holy toledo!!!!!!!

I've had others tell me we need a pipeline to the Gulf Coast to ship to China but I honestly thought you had more smarts than that.

Link for this graphic?

 

[tinydancer]

I recently noted that there would only be 35 permanent jobs resulting from this pipeline. Today, I heard the number is expected to be as high as 50. I don't think that counts the constant repairs and clean up from spills.

No oil for the US. Benefits only Canadian companies.

Spills are now so common, only the biggest are reported. There are so many breaks in the Alaskan pipeline, its not even considered news any more.

Well you are so full of shit already with those numbers. Hey and just like I told Synthaholic don't buy our oil.

You currently import a million barrels of oil a day from us. Your number one supplier.
Don't buy it. Get it from brutal regimes and use tankers to get it to you. Watch your prices go sky high for everything.

And then watch how the Middle East can squeeze your balls like they did in the Carter era.

 

[tinydancer]

Are you engaging in selective reading?

None of this tar sand oil is bound for U.S. markets. All of it is going overseas.

We're your number one supplier and have been for years. You've been getting Athabasca oil sands oil for years on end.

Call it what you will. You've been buying it for forever.

And pray tell why would we stop selling to you?

AND we already ship to Asia from a current pipeline in place from Alberta to the coast.

You know. A coast. Like in Canada has a province in the west that borders the freaking Pacific Ocean for crying out loud.

See this diagram. See the freaking black line from Alberta to Vancouver? See that big mass of nothing to the left of Vancouver.

That's called the fucking Pacific Ocean Jack. Then the oil gets loaded onto tankers to customers in Asia. Holy toledo!!!!!!!

I've had others tell me we need a pipeline to the Gulf Coast to ship to China but I honestly thought you had more smarts than that.

Link for this graphic?

Right here. And I can't wait for the Northern Gateway to be built. First Nations are going to be raking in the $$$$$.

NEB - Energy Reports - Canada's Oil Sands -*Opportunities and Challenges to 2015: An Update -*Questions and Answers

 

[tinydancer]

I recently noted that there would only be 35 permanent jobs resulting from this pipeline. Today, I heard the number is expected to be as high as 50. I don't think that counts the constant repairs and clean up from spills.

No oil for the US. Benefits only Canadian companies.

Spills are now so common, only the biggest are reported. There are so many breaks in the Alaskan pipeline, its not even considered news any more.

I don't even know where to begin to start with this post. Ok I'll tackle one of the first benefits America receives from the building of Keystone XL. The pipeline is going to help your own producers to ship their product to refineries.

Tell me you know what Bakken crude is?


Keystone XL is the safest option for transporting Bakken crude
January 15, 2014
by Matthew John

Keystone XL pipes lie in wait in North Dakota: According to Senator John Hoeven Keystone XL would take 500 trucks a day off the road in Western North Dakota.

A recent accident in North Dakota involving crude-by-rail transport prompted the U.S. Department of Transportation Pipeline and Hazardous Materials Safety Administration (PHMSA) to release an alert on January 2, 2014, which suggested that “the type of crude oil being transported from the Bakken region may be more flammable than traditional heavy crude oil.”

This alert has raised very important questions regarding the safety of crude oil transportation.

Some of these questions are related to the composition of the crude oil itself and where the oil comes from.

We’ve answered questions about specific types of crude oil before, but we feel it is important to communicate that crude oil, regardless of where it is produced, is safest when transported by pipelines.

Making sure that the Keystone Pipeline system is able to safely transport the different blends of oil it has been designed to carry is our No.-1 priority.

“Before any oil goes into our pipeline systems, it has to meet specific safety and regulatory standards.

The oil that enters the pipeline at our Hardisty Terminal is tested upon injection for viscosity, temperature, water content, suspended solids and other characteristics to ensure it meets current regulatory requirements,” said Vern Meier, TransCanada’s vice president of pipeline safety and compliance.

“Bakken oil is subject to the same type of product content disclosure requirements as any other crude oil that is transported in a pipeline and will have to meet all of the same content specifications for transportation that other crude oils are required to.”

We will continue to closely monitor any issues associated with the characteristics of Bakken oil as they relate to personnel and pipeline safety, as pipeline transporters identify them, and share this information within our industry forums.

“The Keystone XL Pipeline is considered, under PHMSA’s pipeline safety regulations, to be a hazardous liquid pipeline. The pipeline design, construction and operation will ensure it meets all of the required standards and regulations governing pipelines transporting a wide range of hydrocarbon-based hazardous liquid products, including crude oil, but also refined products such as gasoline and jet fuel,” said Vern. “Safety is our number one priority at TransCanada, our construction standards are the highest in the industry and we have an industry-leading safety record to prove it.”

In 2012 alone, TransCanada invested $1 billion in our infrastructure safety and integrity program, which includes proactive inspection and maintenance programs to protect our pipelines and energy facilities, and we plan to have invested another $1 billion on safety and integrity in 2013.

During our more than 60 years of operation, we have earned a reputation for delivering energy safely and efficiently and the Keystone and Keystone XL Pipelines will continue that commitment.

Making the Keystone XL Pipeline the safest pipeline built to date in North America is something we take very seriously.

From going through the most exhaustive environmental review for a cross-border pipeline project in the history of the U.S. to the 57 special conditions TransCanada has voluntarily agreed to implement, this project is industry-leading from design to operation


Keystone XL is the safest option for transporting Bakken crude | Keystone XL Pipeline

 

[tinydancer]

Now let's talk jobs. Tell me Luddly you realize that construction workers move from project to project. It's the nature of their employment. Right now you've got nothing going on that would match this project.

Here ya go! And there's more information available at the link. And these people get paid big bucks.

The $5.3-billion Keystone XL Pipeline Project is the largest infrastructure project currently proposed in the United States. Construction of the 1,179-mile pipeline will require 9,000 skilled American workers.

The project will provide jobs for welders, mechanics, electricians, pipefitters, laborers, safety coordinators, heavy equipment operators and other workers who rely on large construction projects for their livelihoods.Note this Luddly. These are union jobs.

In addition to construction jobs, an estimated 7,000 U.S. jobs are being supported in manufacturing the steel pipe and the thousands of fittings, valves, pumps and control devices required for a major oil pipeline.

TransCanada has contracts with more than 50 suppliers across the U.S., including companies in Texas, Missouri, Pennsylvania, Michigan, Oklahoma, South Carolina, Indiana, Georgia, Maryland, New York, Louisiana, Oklahoma, Minnesota, Ohio, Arkansas, Kansas, California and Pennsylvania.

TransCanada employed 4,844 Americans in Oklahoma and Texas on construction of the $2.3-billion Gulf Coast Pipeline Project, which is expected to be complete by the end of this year.

Construction and development of the Keystone XL and Gulf Coast Pipeline Projects is anticipated to generate $20 billion in economic impact in the United States, including $99 million in local government revenues and $486 million in state government revenues during construction.

The pipelines will also generate an estimated $5 billion in additional property taxes during their operational life.

The Canadian Energy Research Institute predicts that Keystone XL will add $172 billion to America’s gross domestic product by 2035 and will create an additional 1.8 million person-years of employment in the United States over the next 22 years.



Jobs & Economic Benefits | Keystone XL Pipeline

 

[tinydancer]

And then there are the spin off benefits like motels, restaurants, pizza joints even laundromats etc who all make a killing when a big project goes thru town.



Keystone XL Pipeline Project will provide good-paying jobs for U.S. families in addition to millions of dollars in annual tax revenue for local governments.

The majority of jobs will be created during pipeline construction

Jobs will likely include positions for equipment operators, welders, mechanics, truck drivers and laborers

Business and contracting opportunities — Pipeline construction will create demand for local goods and services, including clearing, gravel supply, construction equipment supply and maintenance, lodging and accommodation

Annual tax revenue — Once the pipeline is in operation, property taxes will flow to communities across the United States to support school and hospital districts, emergency services and other local programs

Investment in local communities — The operation of the pipeline will also support the economies of communities surrounding our operations, which means increased revenues



Jobs & Economic Benefits | Keystone XL Pipeline

 

[Trajan]

You've decided to veer off into Retard Land. Enjoy the trip.

solyndra wasn't a green initiative?

Solyndra was a pittance. It was $300 million.

Ted Cruz cost taxpayers $20 BILLION with his shutdown.

Your outrage is out of whack. Enjoy Retard Land.

whenever you are faced with a situation you cannot explain, you dive to the bottom, typical.

 

[Trajan]

Last year, while pushing for the KXL, House Speaker John Boehner released a statement claiming that the pipeline “will create over 20,000 direct jobs and 100,000 indirect jobs.” On Friday, as the State Department released its “Final Supplemental Environmental Impact Statement” on the project, Boehner once again released a statement reiterating his previous claim that the pipeline would bring “more than 100,000 jobs.”


The trouble is, that’s not true. At least according to the actual State Department report, which was the occasion for Boehner’s Friday statement.


In the section on “Economic Activity During Construction” (page 26), the report estimates that “Construction spending would support a combined total of approximately 42,100 jobs throughout the United States for the up to 2-year construction period.”


That sounds pretty good! Until one bothers to keep reading. “A job consists of one position that is filled for one year. The term support means jobs ranging from new jobs (i.e., not previously existing) to the continuity of existing jobs in current or new locations.”


Approximately 16,100 of those temporary jobs would be “direct jobs at firms that are awarded contracts for goods and services, including construction” and the rest, “approximately 26,000,” would be the result of “indirect or induced spending.” In other words, that would be “goods and services purchased by the construction contractors and spending by employees working for either the construction contractor or for any supplier of goods and services required in the construction process.”


So, in addition to people who work for suppliers (where they may already be employed prior to the approval of KXL), people who work at restaurants or motels near the construction site or for any of the suppliers, also count as “jobs” in this estimate. For example, the report cites “ranchers providing beef for restaurants and construction camps.”


Fair enough. Two years of jobs for those folks, many of whom will be able to continue working in the jobs they already have (so those jobs are not “created,” per se, by the construction of the pipeline.)


After it’s built, however, either one or two years later, according to the very next section of the Executive Summary titled “Economic Activity During Operations,” the report states quite clearly [emphasis added]:

Once the proposed Project enters service, operations would require approximately 50 total employees in the United States: 35 permanent employees and 15 temporary contractors.



​

That’s it. The Keystone XL Pipeline will offer 35 permanent jobs in the U.S. for the life of the pipeline, according to the U.S. State Department’s final analysis.


LINK

I already posted the snip[pet form the sate depts report ......

thats funny, obama said the pipeline would not create 40K jobs....

In the interview taped Sunday, “O’Reilly Factor” host Bill O’Reilly said the proposed pipeline would create 42,000 jobs, but Obama cut in.

“First of all, it’s not 42,000. That’s not correct. It’s a couple thousand to build the pipeline,” he said.

Read more: Obama knocks Keystone jobs estimate in interview - Alex Guillen - POLITICO.com

he doesn't even know whats in his own state dept. report, thx for confirming hes either suspiciously ignorant or a liar.

do even know what you arguing about here? if its pollution its a big fat fail, jobs, fail, petroleum is a fungible commodity ( third time I told you that) that the prices will rise is horsehockey,and if 42 k jobs aint enough for you, hell, lets give them a subsidy for obamacare and they can sit on their ass

 

[Synthaholic]

Green initiatives? Such as Solyndra?
What tax cuts?
The nearly one trillion dollars in stimulus money was thrown down a rat hole.
Most of it was used to preserve ( temporarily) unionized public employee jobs. Most of which no longer exist.
Let us not forget those 'shovel ready projects'..

Holy shit! How big of a fucking idiot are you, anyway?

Stewart claims that the stimulus bill is one-third tax cuts | PolitiFact

The Stimulus Plan: The Tax Cuts - ProPublica

Tax cuts and incentives for families, individuals and small businesses provided by the 2009 economic stimulus package

I've now decided that you are too fucking stupid to take seriously any longer.

Excuse me....When did you decide you though you could insult me at will.....based on a debate?
Look pal, I come here to discuss issues. If you want to get into a contest of insults, remember this, I don't give a rat's ass about forum rules.
So, if you want your entire existence blasted all over the place, it's your call.
Anyway, tax cuts schmax cuts. That is immaterial.
The fact is the money should NEVER have been spent. Period.
It did NOTHING positive. You support the plan simply because it was Obama's idea.
Your blind loyalty is noted.
Each point you've made has been shot down, crashed and burned.
I accept the fact that you are a true believer. So be it.

You're too fucking stupid for me to "debate" any longer.

Either you knew about the tax cuts and lied, or you are ignorant of the politics you argue.

It's as simple as that.

 

[Synthaholic]

Commodities trading and taxes.
Here in NC we pay almost 70 cents per gallon when state sales, highway and federal taxes are considered.
Oil is a valuable commodity. it is not just a fossil fuel. It is a way to make money.
There is nearly 100 times more money in the oil markets than there was ten years ago. Back then a days trading was measured in the millions of dollars. Today it's hundreds of millions.
Many pension funds are heavily invested in commodities. So are 401k's and other index, ETF and other funds. Oil is also used as a hedge against the US Dollar. If the US Dollar falls, traders buy up oil and gasoline futures.
Do I like paying $3.25 per gallon for gas? No. But I understand the marketplace.
Funny, I don't hear any bitching when the price falls to historic lows as it did in 2008 just after the recession began. or in 1998 when traders bet on the price continuing to rise to levels never seen before. or in 1991 right after the gulf war started and the price of a barrel of oil tripled in a week, only to fall below the level is started a week before the first shot was fired. Traders thought there was among other things, an embargo by the Arab members of OPEC and a supply interruption from Saudi Arabia due to military activity.

Wall St. speculation costs between 40 and 80 cents per gallon. FAIL.

What? Ok....you have a link to this, yes?
This ought to be good.
Oh.....When the price of oil was over $140 per barrel, you libs were screaming from the roof tops, "regulate the speculators!!!!!!"....You people were incensed over the fact that your dear friends in Washington, those geniuses like Maxine Waters who once said during a hearing that "we will nationalize your business", speaking to oil company representatives.
Now, you claim commodity speculation adds just 40 to 80 cents per gallon of gas.....
Your opposition to Keystone is based not in logic, but solely on emotion.

Yes - 40-80 cents due to speculation is insane, and yes we railed against it. That's an extra $6-$12 for a 15 gallon fill-up.

Is that your point?

 

[Synthaholic]

solyndra wasn't a green initiative?

Solyndra was a pittance. It was $300 million.

Ted Cruz cost taxpayers $20 BILLION with his shutdown.

Your outrage is out of whack. Enjoy Retard Land.

whenever you are faced with a situation you cannot explain, you dive to the bottom, typical.

Ted Cruz is the bottom?

 

[edthecynic]

Commodities trading and taxes.
Here in NC we pay almost 70 cents per gallon when state sales, highway and federal taxes are considered.
Oil is a valuable commodity. it is not just a fossil fuel. It is a way to make money.
There is nearly 100 times more money in the oil markets than there was ten years ago. Back then a days trading was measured in the millions of dollars. Today it's hundreds of millions.
Many pension funds are heavily invested in commodities. So are 401k's and other index, ETF and other funds. Oil is also used as a hedge against the US Dollar. If the US Dollar falls, traders buy up oil and gasoline futures.
Do I like paying $3.25 per gallon for gas? No. But I understand the marketplace.
Funny, I don't hear any bitching when the price falls to historic lows as it did in 2008 just after the recession began. or in 1998 when traders bet on the price continuing to rise to levels never seen before. or in 1991 right after the gulf war started and the price of a barrel of oil tripled in a week, only to fall below the level is started a week before the first shot was fired. Traders thought there was among other things, an embargo by the Arab members of OPEC and a supply interruption from Saudi Arabia due to military activity.

Wall St. speculation costs between 40 and 80 cents per gallon. FAIL.

What? Ok....you have a link to this, yes?
This ought to be good.
Oh.....When the price of oil was over $140 per barrel, you libs were screaming from the roof tops, "regulate the speculators!!!!!!"....You people were incensed over the fact that your dear friends in Washington, those geniuses like Maxine Waters who once said during a hearing that "we will nationalize your business", speaking to oil company representatives.
Now, you claim commodity speculation adds just 40 to 80 cents per gallon of gas.....
Your opposition to Keystone is based not in logic, but solely on emotion.

What ought to be better is you rationalizing how the link is too Liberal.

How Wall Street Is Raising the Price of Gas - ABC News

Chilton obtained an energy research report from Goldman Sachs spelling out how much the Wall Street firm estimated speculators had pushed up the real price of oil sold to make gas, due to large bets in the markets.
Using the numbers from in the Goldman Sachs report, combined with current information from the CFTC, Chilton calculated how much speculation is driving up the price at the pump for the average consumer.
He shared calculations with ABC News for the first time.
By Chilton’s calculation, if you drive a car like a Honda Civic, you’re paying $7.30 more than you should every time you fill up — to Wall Street speculators. If your car is a Ford Explorer you’re paying an extra $10.41.
For a Ford F150, he says owners pay an additional $14.56 per fill up -or more than $750 a year.

 

[tinydancer]

Wonder what the next line of bullshit is going to be from the White House to delay the pipeline?

 

[S.J.]

Wonder what the next line of bullshit is going to be from the White House to delay the pipeline?

I expect another "accident" like the convenient explosion in the gulf, which gave the POTUS an excuse to cancel all offshore drilling permits.

 

[Samson]

Wonder what the next line of bullshit is going to be from the White House to delay the pipeline?

I expect another "accident" like the convenient explosion in the gulf, which gave the POTUS an excuse to cancel all offshore drilling permits.

Actually before the blowout, Obama Admin was actively trying to promote offshore activity. Most interesting outcome of the BP Rig Leak was the mysterious disappearance of the Fed's Regulatory Agency that was supposed to be providing oversight to prevent such occurances. Obama Admin. reorganized the agency, making accountability a shell game so it is impossible to follow evidence of government corruption. Don't expect Michael Moore to produce a documentary about it anytime soon.

 

[Mr. H.]

Wall St. speculation costs between 40 and 80 cents per gallon. FAIL.

What? Ok....you have a link to this, yes?
This ought to be good.
Oh.....When the price of oil was over $140 per barrel, you libs were screaming from the roof tops, "regulate the speculators!!!!!!"....You people were incensed over the fact that your dear friends in Washington, those geniuses like Maxine Waters who once said during a hearing that "we will nationalize your business", speaking to oil company representatives.
Now, you claim commodity speculation adds just 40 to 80 cents per gallon of gas.....
Your opposition to Keystone is based not in logic, but solely on emotion.

What ought to be better is you rationalizing how the link is too Liberal.

How Wall Street Is Raising the Price of Gas - ABC News

Chilton obtained an energy research report from Goldman Sachs spelling out how much the Wall Street firm estimated speculators had pushed up the real price of oil sold to make gas, due to large bets in the markets.
Using the numbers from in the Goldman Sachs report, combined with current information from the CFTC, Chilton calculated how much speculation is driving up the price at the pump for the average consumer.
He shared calculations with ABC News for the first time.
By Chilton’s calculation, if you drive a car like a Honda Civic, you’re paying $7.30 more than you should every time you fill up — to Wall Street speculators. If your car is a Ford Explorer you’re paying an extra $10.41.
For a Ford F150, he says owners pay an additional $14.56 per fill up -or more than $750 a year.

In 1999, when gasoline was selling for $1.00 (60 cents before taxes) was it also speculators?