tinydancer
Diamond Member
Toro, over a year or two ago, I READ an article that went over the notes from an investor meeting of TransCanada, and these investors WERE TOLD BY TRANSCANADA that the keystone xl was specifically to transport more oil to refineries that WOULD BE SHIPPED overseas, not for USA use, and the article specifically states this was to raise their prices on oil, because it would raise their capacity to refine more oil, outside of the midwest refineries, and release the back log of oil within their soil....they also said in this report to Investors that this would also raise the price of gasoline in the Midwest states.It won't be exported, according to the CEO of TransCanada Pipelines.
It certainly seems illogical that an oil pipeline should be elevated to the level of friction now represented by the Keystone XL project. But through one means or another, the project has become a source of real conflict. On Wednesday the CEO of TransCanada Corp. came pretty close to calling the President of the United States a liar. Russ Girling said that “the notion that this oil is going to get exported is pure fabrication by those that are opposed to our project.”
Later, he added: “It’s very highly unlikely that any of this crude leaves North America.”
The timing was important, because Mr. Obama made those very allegations just last week. The pipeline, he said was merely “providing the ability of Canada to pump their oil, send it through our land, down to the Gulf, where it will be sold everywhere else.” He was parroting the latest line in the war against Keystone mounted by U.S. environmentalists, which portrays Canada as a nefarious purveyor of dirty oil, with plans to send shipments across the pristine U.S. to ships in the Gulf, which will immediately transport it to China.
In reality, TransCanada doesn’t own the oil, it just ships it for the oil companies. It gets sent to a refining hub in Texas, which turns it into gasoline. The refiners say less than 10% of the gasoline they refine gets exported. If the refiners did decide, illogically, to export it all, they would have to ship in other oil from Venezuela or elsewhere to replace it, which makes no sense at all. The U.S. State Department, which has assessed Keystone to death, found that pipelines have no impact on U.S. exports, and that Alberta’s oil is likely to stay in the U.S.
The National Post
I saved the link for this article back then, but now, trying to go in to the link for it, it says ''This link has been REMOVED''
They aren't an oil company though. Trans Canada is absolutely positively not an oil company. They build energy related infrastructure only.
So the article right from the get go is suspect because Trans Canada is only a moving company for crude. They wouldn't have any say in exporting oil from Gulf Refineries.
And whether enviro whackos like it or not your Gulf Refineries need and want the crude and it's heading to the Gulf whether it's by rail, truck or pipeline.