Canada OKs oil pipeline to the Pacific Coast

Fuel Fix ^ | June 17, 2014 | Associated Press

[phormer phrog phlyer]

Supply and demand are alien concepts to our enlighten marxists friends. They know better than you do, we are being treated as less than serfs.

[moovova]

“...the far left assured us that new production couldn’t change supply for 20 years.”

They lied. Imagine that...

(But, I know you knew that already. :-)

[woodbutcher1963]

Oil is a commodity. This means the more there is available to the world market(no matter where it goes)potentially decreases the price. Supply goes up, demand stays constant, price goes down(economics 101). The important thing is the Canadians are going to decrease the cost/barrel of getting this oil/commodity delivered to a potential refinery somewhere in the world. IF the Chinese/Indians/Japanese buy the Canadian oil, then the Iranian & Venezuelan heavy crude oil has to be cheaper or they will need to sell it to someone else. The more oil on the world market that is not in control of OPEC is a good thing for all the consuming countries. It is a bad thing for Russia, Iran, Venezuela, and other countries that have high production costs.

[woodbutcher1963]

Another point, just because this oil gets to the coast of BC at Kitimat does not mean it is ONLY going to Asia.
Much of this product could end up in refineries in WA, OR and California. However, it would potentially compete with oil coming from Alaska.

[thackney]

the far left assured us that new production couldn’t change supply for 20 years

I never saw that claim. What was said, and true, is that a place like ANWR would take ~10 years to bring into production from the day the government decided they would allow leasing.

[thackney]

Much of this product could end up in refineries in WA, OR and California.

Very True.

[thackney]

Pipeline primer: What you need to know about Northern Gateway
http://www.ctvnews.ca/canada/pipeline-primer-what-you-need-to-know-about-northern-gateway-1.1872482#ixzz3502MLHYZ