Another Scam That Obama Will Approve "Because They Made Me Do It"

Keystone XL Will Raise Oil Prices By Moving More Oil Out Of The US

By Susie Madrak

Anthony Swift at the National Resources Defense Council writes about the marketing of the Keystone XL pipeline extension, and why it's not such a good deal for Americans:

One of the most important facts that is missing in the national debate surrounding the proposed Keystone XL tar sands pipeline is this – Keystone XL will not bring any more oil into the United State for decades to come. Canada doesn’t have nearly enough oil to fill existing pipelines going to the United States. However, existing Canadian oil pipelines all go to the Midwest, where the only buyer for their crude is the United States. Keystone XL would divert Canadian oil from refineries in the Midwest to the Gulf Coast where it can be refined and exported. Many of these refineries are in free trade zones where they may be exported to the international buyers without paying U.S. taxes. And that is exactly what Valero, one of the largest potential buyers of Keystone XL's oil, has told its investors it will do.

The idea that Keystone XL will improve U.S. oil supply is a documented scam being played on the American people by Big Oil and its friends in Washington DC. Canada's excess pipeline capacity is well known. In a Department of Energy reportevaluating Keystone XL's impacts on U.S. energy supply over the next twenty years, the agency found that it will take decades for Canada to produce enough oil to fill existing pipelines. On page 90, the report concludes that the United States will import the same amount of crude from Canada through 2030 whether or not Keystone XL is built.