 |
Louisiana Light • 2 days | 86.60 | -0.08 | -0.09% | ||
|
Bonny Light • 1 day | 88.69 | -0.04 | -0.05% | ||
|
Opec Basket • 2 days | 87.35 | -2.29 | -2.55% | ||
|
Mars US • 168 days | 77.67 | -1.57 | -1.98% | ||
|
Gasoline • 12 hours | 2.710 | -0.003 | -0.13% |
|
Bonny Light • 1 day | 88.69 | -0.04 | -0.05% | ||
|
Girassol • 1 day | 89.20 | -0.10 | -0.11% | ||
|
Opec Basket • 2 days | 87.35 | -2.29 | -2.55% |
|
Peace Sour • 20 hours | 75.30 | -0.05 | -0.07% | ||
|
Light Sour Blend • 20 hours | 78.35 | -0.05 | -0.06% | ||
|
Syncrude Sweet Premium • 20 hours | 85.30 | -0.05 | -0.06% | ||
|
Central Alberta • 20 hours | 75.70 | -0.05 | -0.07% |
|
Eagle Ford • 2 days | 79.21 | +0.04 | +0.05% | ||
|
Oklahoma Sweet • 2 days | 79.25 | +0.00 | +0.00% | ||
|
Kansas Common • 3 days | 73.00 | -2.50 | -3.31% | ||
|
Buena Vista • 3 days | 86.86 | -2.40 | -2.69% |
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Keystone XL Likely to be Reviewed After US Presidential Elections
In January President Barack Obama delayed any decisions on the Keystone XL Pipeline, citing that he needed more time to assess the environmental impacts. He has not rejected the pipeline, which gives TransCanada, the company behind the proposal, hope for a permit grant in the future.
Many believe that Obamas delay is merely a political ploy to avoid making a controversial decision during an election year, which is bound to upset many people no matter which way he votes. As such, the belief is that talks will reopen after the presidential election in November.
Ron Liepert, the finance minister of Alberta, thinks that approval for the $7 billion pipeline will come after the elections. He told Reuters that, "we believe Keystone will be revived and approved after the presidential election, but it's not a sure thing."
Although due to the delays facing Keystone XL, and the possibilities that it won’t be built, Canada have started looking for alternative export routes.
Liepert states that, "Keystone is the project that makes the most sense but we can't put all our eggs in one basket."
Canada is looking to construct a pipeline to their west coast for shipping to Asia. Even though this route has also met stiff environmental resistance Liepert believes that, “there's going to be a big push because Asia has been investing heavily and wants the crude to head there. And I think Canada's federal government is committed to making that happen.”
Another proposal is to adapt the Line 9 pipeline, which runs from Montreal to Sarnia, so that the flow can be reversed and the oil can be transported to Canada’s east coast. From there it would then be piped or shipped down to the US east coast.
By. James Burgess of Oilprice.com
James Burgess
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
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OIL EXPORTS AND KEYSTONE XL PIPELINE: The House rejected an amendment sponsored by Rep. Edward Markey, D-Mass., to the Protecting Investment in Oil Shale the Next Generation of Environmental, Energy, and Resource Security Act (H.R. 3408). The amendment would have required oil transported by the Keystone XL pipeline to be used in the U.S. unless a presidential waiver was granted on the grounds that exporting the oil would not increase prices or would not increase dependence on imports from hostile nations. The vote, on Feb. 15, was 173 yeas to 254 nays.
Votes: Donnelly, yea; Visclosky, yea
MATERIALS USED IN KEYSTONE XL PIPELINE: The House rejected an amendment sponsored by Rep. Michael F. Doyle, D-Pa., to H.R. 3408. The amendment would have made issuance of a permit for the Keystone XL oil pipeline conditional on 75 percent of iron and steel used in the U.S. portion of the pipeline being produced in North America. The vote, on Feb. 15, was 193 yeas to 234 nays. Votes: Donnelly, yea; Visclosky, yea
DRILLING OFF SOUTHERN CALIFORNIA COAST: The House rejected an amendment sponsored by Rep. Lois Capps, D-Calif., to H.R. 3408. The amendment would have struck from the bill a provision authorizing oil and natural gas drilling in waters off the Southern California coast. The vote, on Feb. 15, was 160 yeas to 267 nays. Votes: Donnelly, nay; Visclosky, yea
OIL AND GAS DRILLING OFF NORTHEAST COAST: The House rejected an amendment sponsored by Rep. Timothy H. Bishop, D-N.Y., to H.R. 3408. The amendment would have barred the sale of oil and natural gas drilling leases off the coast of Northeastern states. The vote, on Feb. 15, was 169 yeas to 257 nays. Votes: Donnelly, nay; Visclosky, yea
SAFETY RULES FOR OFFSHORE DRILLING: The House rejected an amendment sponsored by Rep. Colleen W. Hanabusa, D-Hawaii, to H.R. 3408. The amendment would have required the Interior Secretary to establish safety and environmental protection requirements for oil and natural gas wells in offshore waters. The vote, on Feb. 16, was 189 yeas to 228 nays.
Votes: Donnelly, nay; Visclosky, yea
REVIEWING RENEWABLES PROJECTS: The House approved an amendment sponsored by Rep. Doc Hastings, R-Wash., to H.R. 3408. The amendment would limit the scope of National Environmental Policy Act reviews of proposed renewable energy projects on federal lands and waters. The vote, on Feb. 16, was 250 yeas to 171 nays.
Votes: Donnelly, yea; Visclosky, nay
AUTHORIZING NEW OIL DEVELOPMENT: The House passed H.R. 3408, sponsored by Rep. Doug Lamborn, R-Colo. The bill would open exploration for oil and natural gas production off the Atlantic, Pacific and Arctic coasts, authorize drilling in portions of the Arctic National Wildlife Refuge in Alaska and establish rules for development of oil shale resources in the Rocky Mountain states. The vote, on Feb. 16, was 237 yeas to 187 nays. Votes: Donnelly, yea; Visclosky, nay
Senate
CIRCUIT COURT JUDGE: The Senate confirmed the nomination of Adalberto Jose Jordan to serve as a Circuit Judge on the Eleventh Circuit. The vote, on Feb. 15, was 94 yeas to 5 nays.
Votes: Coats, yea; Lugar, yea