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Monday, September 9, 2013

Tom Steyer, NexGen: Keystone XL bad economics for the U.S. -- Canadian oil will travel through America not to America
The Hill:

Billionaire climate change activist Tom Steyer is launching a four-part, $1 million ad buy that attacks the proposed Keystone XL oil sands pipeline.

The former hedge fund chief’s first ad, slated to run during today’s political talk shows, alleges Keystone wouldn’t help the U.S. because the oil would be  “refined and loaded on ships to be sold overseas to countries like China.”

“Foreign countries will get more access to more oil to make more products to sell back to us, undercutting our economy and our workers,” the ad states.

The Obama administration is weighing whether to grant a cross-border permit for TransCanada Corp.’s pipeline, which would bring oil from Canadian oil sands projects to Gulf Coast refiners.

Keystone pipeline supporters have pushed back against activists’ allegations [not really allegations, more like the facts] that Keystone would largely be an export pipeline, either for crude it carries or refined products made with it.

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