Canada at crossroads as pipeline opponents keep up the pressure


Hedge fund billionaire and big Democratic donor Tom Steyer has been pushing the importance of greener, cleaner energy and has said that stopping the Keystone XL pipeline (TRP) is a way to prevent climate change disasters, but today his message was that the pipeline is a bad business deal for the U.S.

"It’s a great deal for China" but not for the U.S., which Steyer says won’t see the profits since Keystone “runs through America, not to America,” and because the Canadian tar sands crude will prove so profitable that there will be little incentive to replace oil with other energy sources, which he says is necessary to lower global carbon emissions.

Canada’s bid to become an energy superpower is at risk as approval delays for new pipelines threaten an industry already hurt by high costs and rival production, according to a Bloomberg analysis, as regulators take their time reviewing Enbridge's (ENB) Northern Gateway, Kinder Morgan's (KMI, KMP) Trans Mountain as well as the Keystone pipeline.

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Comments (32)
  • marpy
    , contributor
    Comments (1703) | Send Message
     
    Steyers must not think much of the average citizens ability to comprehend reality! Last I checked the pipeline's only purpose was to transport oil including some American produced oil to American refineries creating/ maintaining American jobs and last time I checked a large number of the companies producing oil in the Alberta oil sands were American companies. Looks to me like both countries benefit here. Also last time I checked, the pipelines to the Canadian west coast and East coast were moving forward as was the large growth in transport by rail which actually is way more accident prone and way worse for green house gasses as diesel belching locomotives are what are used to pull these trains. In other words, Key Stone or not, the oil gets produced and sold. Looks to me like Steyers and his lefty green story tellers do not think much with respect to the intelligence of their fellow citizens.
    2 Dec 2013, 06:51 PM Reply Like
  • WhatdoIknow1
    , contributor
    Comments (652) | Send Message
     
    Less greenhouse gases if China gets it. What????
    China might be on the other side of the world but it is a part of the world and they are not under our constraints involving safety and emissions.

     

    Long KMP
    3 Dec 2013, 06:23 AM Reply Like
  • Ruffdog
    , contributor
    Comments (3412) | Send Message
     
    I agree with everything you say, but with the US part of Keystone already built, perhaps the delay and ultimate rejection of the cross boarder part be the Obama administration will mean more North Dakota crude reaching the gulf states?

     

    I am long KMP and hope that the Canadian government continues to approve the TransMountain capacity increase! ThatABoy Obama!
    3 Dec 2013, 09:24 AM Reply Like
  • SoldHigh
    , contributor
    Comments (991) | Send Message
     
    Another moronic statement by another whack-job greenie. If anything, Stopping the Keystone XL pipeline is actually a way to INCREASE climate change disasters because instead of transporting the oil via the pipeline, it's transported via rail tank car and trucks. Thus, even more emissions are output and more opportunities are created for environmental disasters!

     

    Al qida has NOTHING on these environmental extremists!
    2 Dec 2013, 07:05 PM Reply Like
  • rjj1960
    , contributor
    Comments (1471) | Send Message
     
    Marpy, well said. We just need a change in Washington in 2 years.
    2 Dec 2013, 07:13 PM Reply Like
  • frosty
    , contributor
    Comments (720) | Send Message
     
    Actually, it seems to me, the more oil we can get to China the better because it will reduce their reliance on coal which is dirtiest of all and polluting the entire earth.
    2 Dec 2013, 07:25 PM Reply Like
  • rick mule
    , contributor
    Comments (46) | Send Message
     
    We sell and ship a lot of coal to them.
    3 Dec 2013, 10:26 AM Reply Like
  • Hendershott
    , contributor
    Comments (1752) | Send Message
     
    Yeah, but it's lower sulfer or cleaner coal than the Chinese deposits.
    3 Dec 2013, 03:29 PM Reply Like
  • dunnhaupt
    , contributor
    Comments (2161) | Send Message
     
    Interesting but the reality is that ENB and TRP are already among the world's biggest fully operational pipeline systems with tens of thousands of employees, whether any addtional project gets approved or not. As Credit Suisse put it, an additional line would be "nice to have" but not "need to have".
    2 Dec 2013, 07:31 PM Reply Like
  • bobby44
    , contributor
    Comments (488) | Send Message
     
    Good cross section of TRUE above. This man made his fortune in hedge funds. That is today's equivalent to the industrial robber barons. He just wants to keep the people who paid before to keep on paying.

     

    It is not just the jobs on the gulf coast - it is also that any exported oil products could be used to influence the importing nations. Boy! Economic clout and political clout - what a great stick.
    2 Dec 2013, 07:36 PM Reply Like
  • nowclouds
    , contributor
    Comments (4) | Send Message
     
    Interesting that Warren Buffett - the great supporter of the White
    House resident, is benefitting greatly with Keystone delay. Just happens to have HUGE railway investments! The corruption continues. At least George Soros doesn't pretend to be the good
    Ole boy, rumpled grandfather. Wake up, America
    2 Dec 2013, 07:54 PM Reply Like
  • Davin Research
    , contributor
    Comments (289) | Send Message
     
    And rail stocks keep on winning. Hard to complain about this.
    2 Dec 2013, 08:17 PM Reply Like
  • BAHAMAS1
    , contributor
    Comments (5121) | Send Message
     
    2 years and counting !
    2 Dec 2013, 09:06 PM Reply Like
  • SaltyDog62
    , contributor
    Comments (835) | Send Message
     
    One word: Hypocrite, as most "billionaire liberals" are...
    2 Dec 2013, 09:42 PM Reply Like
  • bakermre
    , contributor
    Comments (378) | Send Message
     
    The true alternative to Canadian Crude, especially clean Bakken light, is dirty old Saudi and Venezuelan crude imports. Why do we never, ever hear about the huge volumes of these really dirty crude oils being imported from our most dubious Saudi (origin of Ben Laddin) "friends" and the Castro supporters in Caracas?? They get a free ride, while our Canadian brothers get painted dirty with a phony tar brush, wielded by Tom Steyers and his rent-a-crowd protestors (funded by the above suspects, it seems). Obama's great supporter and sympathizer, Warren Buffett's trains are brimming with Canadian crude, heading south by the thousands of car-loads every day at premium transport prices. Little doubt why Warren likes Obama. Little doubt why Keystone XL will never, ever get the Obama O.K. Never!!
    2 Dec 2013, 09:56 PM Reply Like
  • toomuchgas
    , contributor
    Comments (996) | Send Message
     
    We are willing to take the Canadian oil when it is convenient for us but are unwilling to help Canada by processing their oil. Time will come when we will need Canadian oil and they will say too bad it's contracted to the Chinese, Japanese and Indians. The environmental nuts are delusional to think solar and wind is going to serve our energy needs, or that Canadian oil sent to China will help our environment.
    2 Dec 2013, 09:58 PM Reply Like
  • ephud
    , contributor
    Comments (4269) | Send Message
     
    toomuchgas

     

    You completely missed the point.

     

    The purpose here is for him to feel good about himself, that he's doing something. There's no need for him to be effective...
    3 Dec 2013, 09:26 AM Reply Like
  • Ruffdog
    , contributor
    Comments (3412) | Send Message
     
    Have you ever tried to turn on your solar light when you wake up in the middle of the night?
    3 Dec 2013, 09:34 AM Reply Like
  • jack20
    , contributor
    Comments (498) | Send Message
     
    12 GREAT blogs everyone more intelligent and logical than Tom Steyer!! Thank you. P.S. Why does no one ever mention that these pipelines pay property taxes year after year to support local school systems, fire departments, police etc???
    2 Dec 2013, 10:25 PM Reply Like
  • joegillam
    , contributor
    Comments (1132) | Send Message
     
    I don't know that I would want a freight train running in my front door, then out the back; but the General Electric diesel electric is as clean as they get. Mile for mile and pound of freight for pound of freight it is a good way to move things from A to B.
    3 Dec 2013, 07:51 AM Reply Like
  • DonSimon
    , contributor
    Comments (124) | Send Message
     
    And how is electricity made? What is used to make it? It take xxx amounts of btu to move yyy pounds of weight. It is a law of nature that the closer the need for the energy is to where it will be used, the more efficient the use of that energy is.
    Electricity is convenient, but not the " solve all problems" . I predict electric cars for example will never be the most common car.
    3 Dec 2013, 08:13 AM Reply Like
  • BugleBoy
    , contributor
    Comments (271) | Send Message
     
    Maybe Steyers is secretly shorting ENB and TRP??? ;)
    3 Dec 2013, 08:19 AM Reply Like
  • 21thomas99
    , contributor
    Comments (411) | Send Message
     
    Tom Steyer is using this as a platform for achieving a bigger goal, one in which he will profit from career-wise or financially.
    3 Dec 2013, 08:31 AM Reply Like
  • Hendershott
    , contributor
    Comments (1752) | Send Message
     
    The Northern Gateway and the Energy East pipelines don't need US approval, just Canadian, regional and national, which turns out to be a problem. I'm all for the XL but the Canadians can't seem to agree on a pipe in Canada that would solve their problem either. Complain about them as well as Obama.
    3 Dec 2013, 03:35 PM Reply Like
  • marpy
    , contributor
    Comments (1703) | Send Message
     
    Wrong - the premiers of Alberta and British Columbia have already come to general terms and are moving forward with the Western pipeline. And Ontario and Quebec premiers have already stated their support for the eastern Line Publicly, The Atlantic provinces should not be a problem as the biggest refinery in Canada is located there.
    Canadian election politicking has come and gone and now reality is setting in.
    3 Dec 2013, 04:35 PM Reply Like
  • Hendershott
    , contributor
    Comments (1752) | Send Message
     
    Hopefully, but it takes more than the premiers support to get approvals.
    4 Dec 2013, 08:55 PM Reply Like
  • bobby44
    , contributor
    Comments (488) | Send Message
     
    True. it does take much more than that. Please be aware that the projects are in the early stages. What has happened so far is the intent has been announced and open seasons held, Studies are being done right now BUT there has NOT been an application filed to build anything yet.

     

    Both TRP and ENB are getting prepared for filing. Expect TRP to file in January. ENB shortly after. Both companies are working hard to counter the BS from California non profits that are polluting the political atmosphere. Neither company wants to proceed without local support, but they only really need approval from the Energy Board.
    8 Dec 2013, 11:01 AM Reply Like
  • joegillam
    , contributor
    Comments (1132) | Send Message
     
    Don,
    True, electric cars will be passed by natural gas in just a couple of years, then it's on to hydrogen power. Hydrogen will drive us into the last quarter of the 21st century. Then, only He knows.

     

    Yes, a diesel engine drives the electric gens that move the train. But it is a very efficient system. And very low emissions for the tons of freight moved. Far better than trucks for example. Sure, it takes xxx BTU to move yyy tons of freight. But its the efficient manner of the generation of the BTUs that dictate the amount of pollutants released. Example, a solar powered car will release zero pollutants.

     

    Joe in Georgia
    3 Dec 2013, 06:34 PM Reply Like
  • candor
    , contributor
    Comments (94) | Send Message
     
    More wind power so we can kill thousands of endangered bird species. Duke energy just got hit with a whopping fine for all the Golden Eagles their windmills killed. I hope this means that the Fed will go after all the others who are slaughtering thousands of birds each year with those unsightly, noisy contraptions.
    4 Dec 2013, 02:10 PM Reply Like
  • Hank890
    , contributor
    Comments (2202) | Send Message
     
    Canada Tar sands oil will be sold to the Chinese and others regardless of whether the XL pipeline is built or not. That oil will reach the market, and it will be consumed, and stopping the pipeline will not impact climate change one iota. Claiming it will is utterly foolish, and a cynical feint.

     

    the real reason this Demo-donor billionaire has to stop the pipeline is to reap the benefit of the alternative transportation method, namely, Buffett's BN railway. Stopping the pipeline is Obama's gift to his big donors, and a thumb in the eye to Texas based oil interests. That is the real motive. The green angle is just convenient cover.
    4 Dec 2013, 05:32 PM Reply Like
  • bobby44
    , contributor
    Comments (488) | Send Message
     
    That makes sense too.
    8 Dec 2013, 11:02 AM Reply Like
  • jack20
    , contributor
    Comments (498) | Send Message
     
    just read in The Energy Investor December issue that the Canadian Chamber of Commerce estimates that the lack of energy infrastructure is costing Canada $50 million/day. If you go to their website the article is titled "$50 Million a Day."
    8 Dec 2013, 11:21 AM Reply Like
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