Posted on 12/17/2014 5:41:54 AM PST by mac_truck
Sorry, folks, but I see Obama’s agenda rolling on unabated. A Republican majority in both houses doesn’t mean squat.
There ya have it in a nutshell.....
I'm not 100% sure he will...but a veto threat shouldn't stop Congress from debating/voting on the legislation.
“Won’t matter. With oil sitting at less than $60 a barrel...zero chance they will build the sands pipeline.”....
I tend to agree. Noticed an article earlier today that these low prices are definitely hurting the fracking industry. Definitely NOT good for the local area economy since our part of Wisconsin is a MAJOR supplier of frack sand. There are a number of plants that have already scaled back on production. Is this all by design? Perhaps.
Not by design...just a consequence of the US not buying off the int’l market. It’ll rest at $60-$70 for the next eighteen months. If the fracking guys edge back...we will start to buy again off the world market, until the price hits around $90...then restart the whole thing again, and six months later see it drop down again. Cycling will be popular for the next decade. Hurts the Mideast and Russia as much as it hurts us.
Mitch = Trent Lott Redux.
Is McTurd-le going to override the clown’s veto?
The push to get the Keystone built is because oilsands production is "shut in" to a certain extent because it cannot get to market. Northern Alberta is awash in the stuff, hence there is a huge discount from WTI or Brent.
Yep, leave it to the GOP to focus on last year’s issues instead of today’s.
Seems fair < /sarc >
The first important job is repeal (forget replace- just repeal) obamacare. I expect that duty to be totally neglected.
Republicans feel deep in their bones that the Democrat Party is the natural ruling class in America and that Republicans just exist to iron out the rough spots in Democrat policies. Even in the majority the Republicans tend to act as if the Democrats are in the majority and, while trying to “rationalize” past Democrat enactments, will try to appease and “get along” with their Democrat big brothers.
Thanks mac_truck.
Compared to giving away the power-of-the-purse for the next 2 years via the CR, Keystone is just a shiny object.
I disagree, the construction of the pipeline is about LOWERING the shipment cost to get it to refiners. Therefore, increasing the price FOB Alberta once the pipeline is done. Keep in mind, Alberta is landlocked. You have to pump the oil to Vancouver to load it on a boat now. Then it has to travel through the Panama canal to get to TX or LA. I do not know what this costs/barrel, but I am sure the pipeline will lower it substantially. They calculated the return on investment based on what the pipeline company gets/barrel to pump the oil. So, as the price of the commodity decreases, the incentive to lower fixed costs goes up.
The Sands folks have been heavily using Canadian railway and US rail companies...to move it around. For most of 2014, I made a fair amount of growth/profit from my investments in Canadian railways. In the last four weeks? I’ve lost most of my profits...less usage and traffic coming from the oil being moved that way.
” Mitch = Trent Lott Redux.”
No difference, both whores.
Coal companies should be able to soak up any excess rail line capacity created by a drop in shale oil production, at least in the western United States.
Shipping oil by railcar is probably the last resort for bulk transport. Shipping by pipeline is the least expensive followed by supertanker. You can not load a super tanker in Vancouver or ship one through the Panama canal.
Think of how expensive to unload a train of 100+ tanker cars at the refinery. Each one has to hooked up unloaded. The spot for the cars on the rail siding probably only hold 20 cars at a time, if that. Logistically it is a lot easier for the refinery to offload a boatload than it is a trainload one car at a time. This costs money too.
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