Canada Ping!
Posted on 02/16/2015 12:02:10 PM PST by Squawk 8888
As U.S. legislation to approve TransCanada Corp.’s Keystone XL pipeline waited Friday for a promised veto from U.S. President Barack Obama, the Calgary-based company said it would move ahead with another cross-border pipeline — this one to transport oil in the opposite direction.
The $600-million, 460-kilometre Upland pipeline, first proposed in July 2014, has received the shipper support it requires to link multiple points in North Dakota to the proposed Energy East pipeline at Moosomin, Sask., TransCanada said Friday.
The $12-billion Energy East pipeline would be an all-Canadian affair — an idea largely borne of frustrations with Washington’s interminable dithering over Keystone — and ship 1.1-million barrels a day from Hardisty, Alta. to refineries in Quebec and Saint John, N.B., as well as to tankers headed for world markets. The proposal is currently working its way through the Canadian regulatory process. Upton would feed 70,000 barrels a day of American oil north, into the Canadian line.
And that’s the irony: U.S. Bakken producers who haven’t been able get a ‘yes’ from their own government on Keystone XL — which would help them get 100,000 barrels a day of their own oil from the Bakken tight-oil formation to tidewater — are now signing up to move their oil in a pipeline through Canada.
(Excerpt) Read more at business.financialpost.com ...
Canada Ping!
What???? The Canadians are serious about selling their oil???
I still say they need to scrap the XL pipeline and build the 3XL pipeline.
The Upland Pipeline ROW has already been cleared through the forests of Central New Brunswick, about passing through our area not 5 miles from my home.
No question that it will be built.The question is whether the Bakken production will be allowed to “escape” the Obama controls on oil exports, that Obama has imposed on behalf of his spiritual mentors who paid his way through Harvard Law School, The Saudi Princes.
Obama has been doing the Uncle Tom step and fetch for the Saudis since he “graduated” from Harvard, which is why he genuflected to the King of Saud as his subordinate.
https://www.youtube.com/watch?v=CseUglupmZk
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