Kiss Keystone Jobs Goodbye

Gary Buaer, Contributing Author called attention to the following shift and apparent willingness by the Canadians to kiss-off the failed Keystone relationship with America that will have provided needed American jobs and greater access to oil and energy independece for North America.  Bauer noted: Frustrated by Obama's continued delays, a Canadian energy company is expected to file plans shortly to build a new pipeline for the oil that was supposed to run through the Keystone XL pipeline. But instead of going south to our Gulf Coast refineries, the oil will likely go east to Europe and India.

The new Canadian pipeline will be twice as long as the Keystone pipeline, carry 30% more oil and could be in operation in three years -- less than half the time Obama has spent studying and delaying the Keystone project. And instead of American jobs being created by the construction of the Keystone pipeline, Obama and his radical environmentalist allies have only succeeded in creating new jobs in Canada.Bloomberg has the story which is very detailed by Rebecca Penty, Hugo Miller, Andrew Mayeda and Edward Greenspon. A few of their remarks my raise your blood pressure or cool your blood regardlest of which ever side of the XL Keystone pipeline issue you may be on. President Obama and his administration may well have have killed America jobs, beneficial access to Canandian oil, a wounded the relationship with our Canada. Instead, Canada now looks to building an all Canada pipeline and at the market offered by India.Keystone Be Darned . . . So you’re the Canadian oil industry and you do what you think is a great thing by developing a mother lode of heavy crude beneath the forests and muskeg of northern Alberta. The plan is to send it clear to refineries on the U.S. Gulf Coast via a pipeline called Keystone XL. Just a few years back, America desperately wanted that oil. . . .

President Barack Obama keeps siding with them, delaying and delaying approval. From the Canadian perspective, Keystone has become a tractor mired in an interminably muddy field. . . .

In this period of national gloom comes an idea -- a crazy-sounding notion, or maybe, actually, an epiphany. How about an all-Canadian route to liberate that oil sands crude from Alberta’s isolation and America’s fickleness? Canada’s own environmental and aboriginal politics are holding up a shorter and cheaper pipeline to the Pacific that would supply a shipping portal to oil-thirsty Asia.

Instead, go east, all the way to the Atlantic.

Thus was born Energy East, an improbable pipeline that its backers say has a high probability of being built. It will cost C$12 billion ($10.7 billion) and could be up and running by 2018. Its 4,600-kilometer (2,858-mile) path, taking advantage of a vast length of existing and underused natural gas pipeline, would wend through six provinces and four time zones. It would be Keystone on steroids, more than twice as long and carrying a third more crude.

Supertanker Access. Its end point, a refinery in Saint John, New Brunswick, operated by a reclusive Canadian billionaire family, would give Canada’s oil-sands crude supertanker access to the same Louisiana and Texas refineries Keystone was meant to supply. . . .

Saint John provides among the fastest shipping times to India of any oil port in North America. Indian companies, having already sampled this crude, are interested in more. That means oil-sands production for the first time would trade in more than dribs and drabs on the international markets. With the U.S. virtually its only buyer, the captive Canadians are subject to price discounts of as much as $43 a barrel that cost Canada $20 billion a year.

And if you’re a fed-up Canadian, like Prime Minister Stephen Harper, there’s a bonus: Obama can’t do a single thing about it. Done Deal.

“The best way to get Keystone XL built is to make it irrelevant,” said Frank McKenna, who served three terms as premier of New Brunswick and was ambassador to the U.S. before becoming a banker. . . .  [Full Bloomberg Article]

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