Keystone XL developer says it's too late to restart pipeline project
Success!
Posted on 03/10/2022 8:45:26 AM PST by gattaca
...
The monumental decision to walk away from the $8 billion project came at a devastating cost to communities that pinned their hopes and investments on the success of the massive venture.
South Dakota hotel owner Laurie Cox, who bought a two-story hotel in Midland and housed pipeline workers before the project was pulled, said that although it's exciting to think about the pipeline coming back, it's hard not to see the writing on the wall.
She recently drove past some of the man camps built to accommodate thousands of skilled workers hired to build the pipeline. The mostly abandoned work sites left little hope of a comeback.
"The man camp outside of Philip still has a few trailers, but it's as dead as dead could be," she said. "The pod stations appear to be abandoned. There's nothing there."
Cox said employees of Precision Pipeline came in September and removed heavy equipment from one of the sites, including all of the trailers.
Others, speaking on condition of anonymity because they are not authorized to discuss the sale, told the Washington Examiner parts were sold for 30% less than the asking price.
If Keystone XL were to restart, it would mean rehiring workers, buying back pricey equipment, setting up housing, dealing with environmentalists opposed to the drilling, and getting small businesses burned by Biden's decision to agree to reinvest in virtual ghost towns.
Even if all of the obstacles were removed, it's unlikely XL would do anything to ease the sticker shock many drivers currently see at the pumps.
(Excerpt) Read more at washingtonexaminer.com ...
biden — the intentional destruction of the u.s.a.
The very definition of: That ship has sailed.
They would be back in 48 hours if construction resumed.
It’s like Charlie, Lucy and the football. No business person will step one foot into this aftermath.
Oh BS. There’s always some harpy to cry doom. “This can’t be done.” “That can’t be done.” FO.
Oil is transported through pipelines and Transportation Secretary Pete Buttman is very excited about his upcoming visit to the man camps.
At some point you have to say “It’s over” and move on. I believe they reached that point.
I could see work MAYBE resuming if the company declared bankruptcy and somebody picked up the completed work for ten cents on the dollar. That level of discount is needed to compensate for the very high government and political risk.
Partially correct. There is no instant fix to the mess Biden has created. But it is not too late to fix a problem that won’t go away for decades. Eventually there will be alternative energy technologies.
Destroying the middle class was always the plan!
I’m sure he is!
Nothing like hanging out with a bunch of burly men, laying pipe.
No way it would have ever resumed under this administration.
:: if the company declared bankruptcy ::
You mean the little companies involved or the international behemoth called “TCE” (TransCanada, a company I once worked for).
TCE isn’t going anywhere.
Liberals love their Big Oil bribe money.
Or have the US government put up a surety bond of several billion. You close it, you pay for that.
You just gotta wanna.
Ignore the naysayers. Just do it.
If it does restart it could be renamed the “John Galt Pipeline” - ha!
(I’m currently listening to the audiobook version of “Atlas Shrugged” - If you’ve read the book, you’ll get the joke!)
Yeah, but they will only be affordable to Gulfstream owners ...
Prices reflect expectations. Restarting the pipeline sends a signal to the brokers. The price of oil would plummet.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.