Keystone?

Every time I read the news I read about how the new Congress is going to approve the Keystone XL pipeline.

Since the oil will be coming from Canada, maybe we should see what they say about falling oil prices and oilsands exports.

MaClean's
Is it time to panic in the oil sands?

If the current pricing trends continue, at least one of the proposed oil sands pipeline projects would no longer be needed

Andrew Leach
November 29, 2014
http://www.macleans.ca/economy/economicanalysis/is-it-time-to-panic-in-the-oil-sands/

...  if the current pricing trends continue, and appear to be longer-lived, expect to see a much lower long-term forecast for oil sands, not to mention light oil from the U.S. Bakken, the next time around. Such a change, as you can see in the figure below, could mean that at least one of the proposed pipeline projects would no longer be needed within the forecast horizon.

See the article for larger image.

Notice this was published at the end of November, 2014, and oil has fallen more since.

Essentially, production for export of Canada Oil (on left axis) may fall far short of what is in this old forecast by the Canadian Association of Petroleum Producers.

So, what's the Keystone gonna carry, Senator Mitch McConnell?

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