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Keystone XL wait hits five years this week

  • This week marks the five-year anniversary of TransCanada's (TRP) application for approval of the Keystone XL pipeline to carry Canadian crude directly to the U.S. Gulf coast - a process originally expected to take 18-24 months.
  • TRP says it’s not prepared to wait out the Obama administration, but it has already spent ~$2B on KXL, mostly for segments of pipe and pumps but also for rights-of-way and permitting.
  • But not everyone in the oil patch thinks the project’s delay is such a bad thing: Birchcliff Energy (BIREF.PK) CEO Jeff Tonken says the White House’s slow-go approach has forced Canada to look hard at other markets outside the U.S. to export its surplus energy.
Comments (9)
  • nemonemo
    , contributor
    Comments (309) | Send Message
     
    Oh wait, this is also year 5 of lame duck president.
    19 Sep 2013, 07:01 PM Reply Like
  • Pillpoppinpuppy
    , contributor
    Comments (135) | Send Message
     
    This just in: Keystone soon will carry crude through Texas, with or without Obama
    The president has delayed it. Protesters tried to stop it. But the Keystone XL pipeline is approaching a major finishing line anyway, setting the stage for a rush of new oil to move through Texas.

     

    The southern leg of Keystone XL is more than 90 percent complete and will be shipping oil through Texas by the end of the year, pipeline owner Trans­Canada says.

     

    Refineries are cheering the new line, which will bring up to 700,000 barrels per day of oil to the Gulf Coast – with or without the proposed northern connection to Canada that has drawn intense environmental opposition.

     

    The milestone will play into the plans of refineries, some of which are making changes to process more of the kind of light crude from U.S. shale plays that will be increasingly available because of the Keystone XL southern leg.

     

    ha ha ha ha too bad barry
    19 Sep 2013, 07:16 PM Reply Like
  • Bear Bait
    , contributor
    Comments (664) | Send Message
     
    The key words from PPP is "through Texas". My understanding is most of the crude and refined products are headed somewhere besides US markets. It's easier to reach big water by going south than by west through the mountains. And , I don't think the Canadians are to happy with it going west through their country..
    19 Sep 2013, 10:39 PM Reply Like
  • Ruffdog
    , contributor
    Comments (1238) | Send Message
     
    My understanding is that the US refiners are replacing the dirtier Venezuelan crude they are currently refining with not as dirty Canadian tar-sand crude.

     

    Also, KMP should be happy about the delays as it makes transmission rights on their TransMountain pipeline to the west coast more valuable.
    20 Sep 2013, 07:20 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    "Hope and Change"

     

    Gasoline sets record with 1000 days over $3

     

    Coincidence?

     

    Not.
    20 Sep 2013, 01:00 AM Reply Like
  • bobby44
    , contributor
    Comments (181) | Send Message
     
    The industry is resilient. There will always be a way and it will be found. This is the highest profile project to be shelved by this government. Had all been approved would the nation still be languishing in low growth. Hard to say. Oh, do we feel greener or just screwed?
    20 Sep 2013, 08:35 AM Reply Like
  • wp5031
    , contributor
    Comment (1) | Send Message
     
    Put it this way I do not believe we feel greener!
    20 Sep 2013, 10:21 AM Reply Like
  • marpy
    , contributor
    Comments (688) | Send Message
     
    Nothing new here as when you look at positive developments, what Obama has been able to accomplish in his time as president has not amounted to much. He would rather appease a small minority (greens) and stiff Americans out of jobs, energy security, investment income and lower gas prices and at the same time P - off America's biggest trading partner. And this is all for nothing as the companies producing the oil sands crude have just found other ways off transporting it to market such as using rail and building alternate pipelines down the road.
    20 Sep 2013, 12:37 PM Reply Like
  • LeahyInvestor
    , contributor
    Comments (97) | Send Message
     
    The point of the pipeline is suppose to ship it out the ports to emerging markets? I wonder if they build it, it will allow oil to be shipped out faster, than the declining demand in the USA. While the USA is drilling record amounts. There have been a lot of oil being exported, and with refineries in Texas it would be easy to ship out. Is this in the best interest of the USA? Will prices climb after the pipeline that ships the oil through the country to a shipping port. I am not saying I am an expert but this is extremely fishy to me. People so willing to give their trust away.
    26 Sep 2013, 01:23 AM Reply Like
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