• 6 mins What will happen with Venezuela's oil sector? Privatization needed?
  • 35 mins Here we go! Oil Heads Up To $74 a Barrel, But U.S. Bonds, Crude Supply Cast A Pall
  • 6 hours I am buying Huawei phone
  • 3 hours Yemen's Rebels Step Up Attacks on Aramco Oil Facilities
  • 3 hours Autobots Roll Out! - Transforming Robot Unveiled In Japan
  • 3 hours Shell and Total Results Buoyed By Higher Oil Prices. Results From Exxon And Chevron Are Expected On Friday
  • 14 hours Saudi Arabia Looks To Raise $10bn In Privatization Scheme
  • 3 hours Comprehensive List of Factors that affect crude oil price
  • 1 day China's Yuan Oil Contracts: No Liquidity, but It Will be Built
  • 1 day China Has The Ultimate Population Control Weapon
  • 1 day What happened to stocks yesterday?
  • 9 hours libya's oil disruption to send oil prices up?
  • 23 hours Electric Buses are Eating into Oil Demand
  • 4 hours Large-Cap Oil Earnings: What to Watch
  • 1 day Trump's top energy adviser resigns
  • 1 day Trump Warns Iran Against Restarting Nuclear Program
Is This The Most Bullish Oil Market Of All Time?

Is This The Most Bullish Oil Market Of All Time?

Money managers are betting big…

A New Lithium War Is About To Begin

A New Lithium War Is About To Begin

The world’s most sought-after resource…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners

shale tower

Landowners with property affected by the TransCanada Keystone XL pipeline are environmentalists’ newest allies in the fight against the facility’s construction, according to a new Reuters report.

The Bold Nebraska group is seeking to create new roadblocks for the pipeline, which has received the green light from state regulators from an amended route that would reduce environmental impact.

“We hope to begin the education process with landowners so they understand this is a lifetime easement for a one-time payment,” Jane Kleeb of Bold Nebraska told Reuters. “We aim to engage at least 20 percent of the new landowners in the legal landowner group.”

Already, 100 landowners with property along the pipeline’s new route have signed up against the project, the activist group says.

Since TransCanada originally proposed Keystone XL a decade ago, U.S. oil production has doubled, from just over 5 million barrels per day to almost 10 million today. There has also been a massive buildout of oil pipelines in the United States, taking crude from the Bakken and the Permian to refineries on the East and Gulf Coasts. The new development makes the urgent need for the Keystone XL questionable, but the pipeline would go a long way towards keeping oil prices low.

Related: The Billionaires Betting On Space Travel

In Canada, the need for pipelines is more evident than ever. Western Canada Select (WCS), a benchmark for heavy crude from Alberta, routinely trades at a discount to West Texas Intermediate. However, that discount has worsened because of pipeline bottlenecks that has increased oil in storage in Canada.

Bloomberg Gadfly recently pointed out that there is a shortage of pipeline capacity from Canada equivalent to about 330,000 bpd this year, a deficit that will balloon to 700,000 bpd by 2019 as more oil sands projects come online at a time when all major pipeline projects have suffered serious delays.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News