Want more expensive gas? Support the Keystone Pipeline!
Keystone Pipeline Means Dearer Gas, Few Jobs: Jonathan Alter
By Jonathan Alter Mar 1, 2012 4:00 PM PT
Bloomberg
“I’ll get us that oil from Canada,” Mitt Romney said in his victory speech after the Michigan primary. He was referring to Keystone XL, the crude-oil pipeline that has become a top-tier campaign issue for Republicans.
Problem is, the tar-sands oil in that pipeline wouldn’t be coming to “us.” It would go directly from Canada to refineries in the Gulf region en route to export markets in Latin America and Europe. The U.S. would be used as little more than a transit corridor.
We’ve heard a lot about groundwater contamination near the completed portions of the pipeline -- more than a dozen spills of the highly corrosive oil, including one near Kalamazoo, Michigan, that they can’t seem to clean up. Conservative Nebraskans became greens overnight when they learned the details of the project that will go through their state.
But the immediate effect of completing the Keystone pipeline (perhaps by 2015) is more surprising and counterintuitive.
The project would increase domestic oil prices by more than $6 a barrel and prices at the pump in parts of the country by about 20 cents a gallon. You read that right. At a time when rising gas prices threaten President Barack Obama’s re-election, the Republicans’ most ballyhooed remedy -- a new pipeline -- would make the problem worse.
(More here.)
By Jonathan Alter Mar 1, 2012 4:00 PM PT
Bloomberg
“I’ll get us that oil from Canada,” Mitt Romney said in his victory speech after the Michigan primary. He was referring to Keystone XL, the crude-oil pipeline that has become a top-tier campaign issue for Republicans.
Problem is, the tar-sands oil in that pipeline wouldn’t be coming to “us.” It would go directly from Canada to refineries in the Gulf region en route to export markets in Latin America and Europe. The U.S. would be used as little more than a transit corridor.
We’ve heard a lot about groundwater contamination near the completed portions of the pipeline -- more than a dozen spills of the highly corrosive oil, including one near Kalamazoo, Michigan, that they can’t seem to clean up. Conservative Nebraskans became greens overnight when they learned the details of the project that will go through their state.
But the immediate effect of completing the Keystone pipeline (perhaps by 2015) is more surprising and counterintuitive.
The project would increase domestic oil prices by more than $6 a barrel and prices at the pump in parts of the country by about 20 cents a gallon. You read that right. At a time when rising gas prices threaten President Barack Obama’s re-election, the Republicans’ most ballyhooed remedy -- a new pipeline -- would make the problem worse.
(More here.)
Labels: Keystone pipeline, tar sands oil
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1 Comments:
Liberals seem to know a lot about expensive gas.
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