XL Pipeline not dead yet

The TransCanada pipeline is not yet dead.  TransCanada has said they will re-apply for the entire pipeline and they will start on construction of the southern portion this year.  It runs from Cushing Ok to the Gulf and will open by the end of next year.

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&sour...

Hopefully, they will also expedite the segment from N Dakota so the Bakken oil can move quicker, cheaper, and safer than rail.

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Permalink Reply by oildude on February 28, 2012 at 12:59pm

I dont think that pipeline is a good thing. Canadian oil is selling for about $80 a barrel. I dont want cheap Canadian oil bringing down the price of MY oil. 

Permalink Reply by Todd Charles on February 28, 2012 at 2:11pm

I agree with you, Oildude - Canada can keep (and process) their own crude.  Not only do we not want it running through our HEARTLAND - we want to EXPORT OUR OWN OIL & NATURAL GAS PRODUCTS.

Permalink Reply by HB on February 28, 2012 at 3:08pm

Um....did y'all know that N.Dakota and Oklahoma are in the USofA (not Canada)?

Permalink Reply by oildude on February 28, 2012 at 3:31pm

Yea. I know where N.Dakota and Oklahoma are. I have been to both states many times. I also know that if that pipeline is built it WILL extend into Canada. Then the United States government will have cheap Canadian oil to use to manipulate the price of gas anytime they want. I am not sure I want extra oil from western U.S. states lowering the price of MY oil either.

Permalink Reply by Paul Martinelli on February 28, 2012 at 3:14pm

The XL pipeline creates US jobs.   It will be approved...overall it is a good thing

Permalink Reply by Ed Ganelli on February 28, 2012 at 3:27pm

Actually, it's not going to create nearly as many AMERICAN jobs as they say it will - as they say, it will create "approximately 20,000 JOBS", yet most of those jobs will be either jobs based in Canada, or Canadian pipeline workers because they already have "experience" in that type of pipeline work (last I knew, though, heavy equipment operation and welding were the same whether in Canada or in the US!).

However, I DO think the pipeline should be approved...just with a stipulation that it will use, say, 90% American labor...

Permalink Reply by oildude on February 28, 2012 at 3:30pm

Paul

You are right. It will create jobs and help the economy overall. I think in the long run that will be a good thing but I dont employ people. I sell oil. 

Permalink Reply by Paul Martinelli on February 28, 2012 at 3:57pm

Well...then....I have lots of oil.....all you have to do is come get it out of the ground...I'll help drill...I'll dig the first 3 feet.

Permalink Reply by oildude on February 28, 2012 at 5:09pm

Ha ha ha ha. I guess I  sounded kinda arrogant. I just meant that maybe we are missing the big picture. The only real leverage we have over the oil companies is that oil is so valuable. If cheap canadian oil lowers the price of our oil, lease prices will drop and fewer wells will get drilled. Ohio is on the brink of an economic boom and high oil prices are the reason. I hope that is a better explanation of what I was thinking.

Permalink Reply by Paul Martinelli on February 29, 2012 at 8:05am

I agree with you.....I don't think having the Canadian oil being used here in the US is bad....I'll take it any day over OPEC oil.   Even it means fewer dollars in my pocket.

 

We in Tusc. County Ohio are still waiting on the boom,,,,,it is coming but why are they (oil comapnies) not agressiviely drilling the oil play of the utica?

Permalink Reply by oildude on February 29, 2012 at 8:21am

At this time they are trying to lease as much as they can before someone else gets it. I think they are having problems meeting the high lease prices. Thats why they are all forming joint ventures with foreign companies. You see what happened with chesapeake. They spent so much cash on leasing that their stock holders freaked out because the stock price was falling. The oil companies will find the cash to meet the high lease prices so we should ask for all we can get. As more oil wells come into production they will be flush with cash and then the drilling boom will really take off. 

Permalink Reply by Dan on February 29, 2012 at 12:30pm

Do you know why the Virgin Islands refinery was taken off line?  I thought I read in IEA site the East Coast refineries would be going offline this summer?  Is this scheduled mantainence or is someone messing with prices?

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