Foxrac

WASHINGTON -- The Natural Resources Defense Council on Tuesday released a report dispelling the myth that the proposed Keystone XL tar sands pipeline would lower gas prices. Rather, the opposite is true, findings show.

On a conference call with reporters on Tuesday, report author and NRDC attorney Anthony Swift called the pipeline's impact on gasoline prices "one of the most misunderstood issues surrounding the proposed Keystone XL," adding that when TransCanada originally proposed the pipeline, they pitched it as a way to increase the cost of oil in the United States, providing increased revenue for Canadian producers. Since then, proponents of the pipeline in the United States have pitched it as a means of decreasing U.S. gasoline prices.

Swift's study examined these two conflicting claims, and findings suggest that the former is the true one. "Our study has found that Keystone XL is likely to both decrease the amount of gasoline in U.S. refineries for domestic markets and increase the cost of producing it, leading to even higher prices at the pump," Swift told reporters.

TransCanada did not immediately return a request for comment.

The report found the pipeline will increase U.S. gasoline prices by three mechanisms, most immediately by reducing the amount of gasoline produced in the United States. The pipeline will divert crude oil from Midwestern refineries, which are designed to produce as much gasoline as possible from a barrel of oil, to Texas Gulf refineries, which are designed to produce as much diesel as possible from a barrel of oil. The result in the immediate to short term will be a decline in gasoline production and an increase in diesel, according to the report.

Other findings in the report include that the pipeline will increase the price of crude oil in the Midwest and Rocky Mountains by over $20 a barrel, increasing the cost of Canadian tar sands by as much as $27 billion annually. These higher crude oil costs are expected to lead to deteriorating financial conditions in Rocky Mountain and Midwestern refineries, which could in turn result in decreased production. That's because if Midwestern refineries are forced to pay a higher price for oil, as East Coast refineries already do, they will be forced to respond by reducing their production and further decreasing U.S. gasoline supplies, according to the report.

These findings come as the House and Senate are in conference to hammer out a final version of the transportation bill. A provision in the House version of the bill would approve the pipeline, overriding President Obama’s rejection of the pipeline application in January, but a similar provision has not, as yet, been included in the Senate's version. The president has promised to veto any measure that includes Keystone XL approval.

Keystone XL Would Raise Gas Prices, Report Finds

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Deafness

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Foxrac

I'm opposing to Keystone XL for years.

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TXgolfer

A "report" from the Natural Resources Defense Council.....

In Another report Cows say steak is yucky

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Do not be overcome by evil, but overcome evil with good. - Romans 12:21


Sometimes at night, I see their faces. I feel the traces they've left on my soul

Foxrac

Hello airportcop,

Please refrain from excessive smiles and if you disagree so you should make full explanation.

Thanks

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Foxrac

Hello Kokonut,

Your post is off topic so please sticking with topic about Keystone XL.

Thanks

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airportcop

Okay, how about if I said that this article was one big joke! No proof that any of this will happen.

Is there some kind of unwritten excessive smiles rule that I am unaware of or does it just anoy you?!

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Romans 12:12 (NIV) Be joyful in hope, patient in affliction, faithful in prayer.

TXgolfer

Actually there is a rule about excessive emoticons....

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Do not be overcome by evil, but overcome evil with good. - Romans 12:21


Sometimes at night, I see their faces. I feel the traces they've left on my soul

airportcop

Oops! Sorry, my bad!!!

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Romans 12:12 (NIV) Be joyful in hope, patient in affliction, faithful in prayer.

airportcop

What constitutes excessive and who is keeping track?!

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Romans 12:12 (NIV) Be joyful in hope, patient in affliction, faithful in prayer.

Foxrac

It is just myth from oil companies and trust me, you will never find any gas price to be cheaper like 20 years ago. I doubt about Keystone XL will help the gas price and it is just my opinion from 2008, if does so it will be very small and oil companies care about profits.

Excessive smiles doesn't make any sense and I don't understand your post at all, also it does annoying anyone, not just only for me.

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C.C.Sinned

it is in the rules with the term of scrolling. mods keep track if the post is reported.

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Foxrac

I support nationalization of oil companies but we should done in century ago (late 1800's to early 1900's).

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