- Continental Resources (CLR) CEO Harold Hamm, an early champion of fracking and other tight oil techniques, has turned against Keystone XL (TRP), saying the controversial pipeline which would link Canada’s oil sands production to Gulf of Mexico refiners is no longer needed.
- CLR is one of a handful of U.S. producers to sign up to use the pipeline, but shipping crude by rail has been a very effective way of getting its oil to market, and Keystone may not be needed for the industry in the U.S., Hamm says.
- That's why Keystone is needed, Canada’s ambassador to the U.S. says; pipelines are both safer and cheaper than shipping crude by rail, and release less carbon dioxide than rail, Amb. Gary Doer says.
Keystone pipeline loses support from key customer
Dec 17 2013, 11:29 ET