CANADA ISN’T GOING TO WAIT ON KEYSTONE XL …
By FITSNEWS || Take that, Barack Obama. Or rather … “congratulations.”
After years of blocking the Keystone XL pipeline, the Obama administration appears to have finally “won” on this issue. The $7 billion, 1,600-mile pipeline – which was projected to create more than 300,000 new U.S. jobs – appears to be dead.
How come? Transcanada – the company that’s been trying for years to get this pipeline built – has figured out another way to get its oil (168 billion proven barrels, at last check) where it needs to go.
It’s called Energy East, a proposed $10.7 billion, 2,858-mile pipeline that would carry 1.1 million barrels of crude oil every day from Alberta and Saskatchewan to refineries in eastern Canada. So instead of Louisiana and Texas providing supertanker access to Canadian crude – our neighbors to the north will “keep it in the family,” setting up tanker access at Saint John, New Brunswick.
Keystone? Canada doesn’t need it …
According to Bloomberg, the impetus for the Energy East project was a surprise telephone call from Obama to Canadian prime minister Stephen Harper on November 10, 2011 – in which Harper was informed the Keystone XL project was “on hold.”
That’s when Canada decided it was going to have other options at its disposal in the event the Obama administration continued to stonewall – which is exactly what it’s done.
Bloomberg refers to Energy East as “Keystone on steroids, more than twice as long and carrying a third more crude.” If approved on schedule (sometime in early 2016), the pipeline could be operational by 2018.
Keystone has been a major issue in the congressional elections in the United States, with “Republicans” blasting Democrats for falling in line behind Obama and the radical environmental lobby in opposing it.
Expect the issue to ratchet up considerably as a result of Canada’s decision to bypass America altogether …