TransCanada files amended bid for keystone oil pipeline that obama said NO to.

[powderman]

TransCanada Files Amended Bid for Keystone    TransCanada Corp. has re-applied for a U.S. permit for the $5.3 billion Keystone XL oil pipeline, this time seeking permission to build a portion of the original project from the Canadian border to Steele City, Nebraska.

The application uses already reviewed routes through Montana and South Dakota and will add an “alternative” path through Nebraska determined by the state’s Department of Environmental Quality, according to a statement from the Calgary-based company today.

TransCanada’s prior application for the Keystone XL project, stretching from Canada to the Gulf Coast, was rejected by President Barack Obama on Jan. 18 in part because of potential environmental effects in Nebraska. The project needs approval from the U.S. State Department because it crosses an international border.

“The Keystone XL project offers Americans a choice of receiving a reliable source of Canadian and U.S. oil through this pipeline system or continuing to import crude oil from unstable places such as the Middle East and Venezuela that do not share American values,” TransCanada said in the statement.

As originally envisioned, the $7.6 billion project would’ve expanded TransCanada’s existing Keystone pipeline to carry as much as 830,000 barrels a day from Canada’s oil sands and North Dakota’s Bakken Shale along a 1,661-mile (2,672-kilometer) path to Gulf Coast refineries. The scaled-back proposal covers 1,179 miles of the northern portion of the project.

TransCanada expects to start construction of this portion of Keystone XL in the first quarter and finish by as late as early 2015, the company said. It expects to begin construction as soon as June on a pipeline from Cushing, Oklahoma, to Texas refineries that was part of the original Keystone XL proposal.



Read more on Newsmax.com: TransCanada Files Amended Bid for Keystone 

[ppine]

I am a retired envionmental consultant and worked on projects just like this throughout my 30 year career.  Obama declined to "streamline" the environmental review process requested by Congress.  The pipeline will get built.  There are some potentially serious impacts to the Ogalalla Aquifer which supplies irrrigation water for 4 states.  There is a public review process required by law and that is underway now.  Just be patient.  The US is now an exporter of refined fuels for the first time since 1948.

[powderman]

The US is now an exporter of refined fuels for the first time since 1948.

 
Which makes our prices go way up. Thanks for the info Sir. POWDERMAN. 

[Empty Quiver]

The US is now an exporter of refined fuels for the first time since 1948.

 
Which makes our prices go way up. Thanks for the info Sir. POWDERMAN. 

As I understand it we are refining foreign sourced oil. So as I see it we are making some money here. This is no different than Japan using foreign iron ore to make steel for export. No we aren't pumping our own crude for all this but refinery workers are employed.

[ppine]

Quiver,
You are correct.  But increasing the supply domestically will not necessarily lower the price.  Extra production gets sold on the international market to the highest bidder.  Requiring that US produced oil be sold here is a socialist policy that most people will not support.

[Empty Quiver]

Quiver,
You are correct.  But increasing the supply domestically will not necessarily lower the price.  Extra production gets sold on the international market to the highest bidder.  Requiring that US produced oil be sold here is a socialist policy that most people will not support.

They are correct to not support that.  It is an international market. I vaguely remember lines at gas stations, I have never been in one though. The free market has kept those lines away, not, regulating the oil companies.