Keystone Pipeline: A bad idea
President Obama may not have killed the 1,700-mile Keystone XL pipeline project for all the following reasons, but he should have.
Americas #1 export in 2011 was refined fuel.
Shocked? Dont be. Despite the staggering price of gas at the pump, the US ships gas, diesel and jet fuel off to developing countries like China.
The reason? US consumption of oil has declined since 2006 and North Dakota has a glut of shale oil. Underutilized Midwest refineries refine the shale and export to China. And Big Oil wants to export even more.
Thats where the Keystone Pipeline XL enters the room. Few Americans understand that Keystone is an export pipeline. It will link Alberta Canadas tar sands to Gulf Coast refineries where it will be exported to the highest bidder, most likely China and India.
Read more: http://www.metrowestdailynews.com/opinion/x1368169330/Nardone-Keystone-pipeline-A-bad-idea
I would also like to add that the Keystone XL Pipeline Would Increase Oil Prices in Midwest