Status of Keystone XL?

[Oliver88]

Enbridge has a little secret in store for xiden. F him and skippy too.

https://energi.media/markham-on-energy/enbridge-may-have-500000-b-d-solution-to-albertas-pipeline-crisis/ Enbridge may have 500,000 b/d solution to Alberta’s pipeline crisis

Interesting video and article. This should be good for Enbridge shares long term.

[fjlip]

Xiden such a smart caring POS...Unions might get rid of the TRAITOR

[jazz]

Use the railways as an example to what happens to critical infrastructure when its not expanded. It becomes almost priceless.

All the trucking and cargo jets in the world didnt put CN out of business because someone finally realized hauling heavy stuff is most efficient by rail. And now that another rail line will never be built again in the country, that stock has never stopped going up.

Same thing will happen to the remaining pipelines in the ground. All the solar and wind mills wont put them out of business either because oil will never go away. Our politicians have ensured that now.

Oil will be triple digits again.

[AlbertaFarmer5]

.

Oil will be triple digits again.

The question is, at which end of the pipeline will that value occur? It won’t Be in favor of the producers, or the consumer's.

[chuckChuck]

https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-even-without-keystone-xl-us-set-for-record-canadian-oil-imports/ https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-even-without-keystone-xl-us-set-for-record-canadian-oil-imports/

Even without Keystone XL, U.S. set for record Canadian oil imports
Nia Williams and Devika Krishna Kumar
CALGARY and NEW YORK
Reuters
Published 2 days ago
Updated January 22, 2021

The Keystone XL pipeline project may be dead, but the United States is still poised to pull in record imports of Canadian oil in coming years through other pipelines that are in the midst of expanding.

U.S. President Joe Biden canceled Keystone XL’s permit on his first day in office Wednesday, dealing a death blow to a long-gestating project that would have carried 830,000 barrels per day of heavy oil sands crude from Alberta to Nebraska.

Environmental activists and indigenous communities hailed the move, but traders and analysts said U.S.-Canada pipelines will have more than enough capacity to handle increasing volumes of crude out of Canada, the primary foreign supplier of oil to the United States.

Currently, Canada exports about 3.8 million bpd to the United States, according to U.S. Energy Department data. Analysts expect that to rise to between 4.2 million and 4.4 million bpd over the next few years. Pipeline expansions currently in progress will add more than 950,000 bpd of export capacity for Canadian producers before 2025, according to Rystad Energy.

Canada’s Energy Regulator says there is enough capacity currently to export more than 4 million bpd to the United States.

Biden’s administration has set a goal of moving towards decarbonization and reducing the country’s reliance on oil and gas and cutting harmful air pollutants. Most of the nation’s energy still comes from fossil fuels.

“Whatever limited benefit that Keystone was projected to provide now has to be obviously reconsidered with the economy of today,” said Gina McCarthy, Biden’s leading domestic climate policy coordinator at the White House.

Even without Keystone, however, the United States now relies on Canada for more than half of its imported oil. Several of the lines carrying that crude are in the midst of expansions.

Enbridge Inc’s Line 3 replacement project is in the process of doubling its capacity, which will allow it to deliver about 760,000 bpd of crude from Alberta to Superior, Wisconsin, by the end of this year.

Canada’s government is also expanding the state-owned Trans Mountain line by 590,000 bpd to 890,000 bpd. That line terminates at the Port of Vancouver, where it should be able to deliver barrels via tankers to the United States.

Meanwhile, TC Energy received U.S. approval last year to expand its existing Keystone 590,000-bpd line - located far from the proposed Keystone XL - which would add an additional 170,000 bpd into the U.S. Midwest and Gulf Coast.

“We will be over-piped assuming the other pipelines go ahead on schedule,” said Wood Mackenzie research director Mark Oberstoetter. “If you add them all up, you can make the argument KXL was not needed.”

Construction underway on Trans Mountain and Line 3 could still be held up by environmental protests, but unlike Keystone XL, both pipelines have cleared legal and regulatory hurdles.

Oil production in western Canada will rise in 2021 to a new record of 4.45 million bpd, RBN Energy estimates, up from 3.9 million bpd in 2020, most of which will be exported to the United States.

Canada is the world’s fourth-biggest crude producer, but has been grappling for years with congestion on pipelines. That caused a glut of oil in storage tanks in Alberta, driving prices down, and spurring the province to impose production curtailments to drain record inventories.

Those curtailments were lifted in November, and production has been rising ever since. Even as production is rising again, pipeline companies have boosted efficiency on existing pipelines through the use of drag-reducing agents.

“While the politics around KXL will continue to reverberate for some time, the reality is that western Canada - for the first time in recent memory - may soon reach a juncture at which it has excess oil export capacity,” Rystad Energy’s vice president for North American shale Thomas Liles said in a note.

[jazz]

Ha chuck, how much do you know about the oil industry except what cbc tells you.

KXL had a avenue to US gulf coast so some of that crude to be refined and/or tankered out to world markets.

It wasnt supposed to go all to the US. Called a swing market which closes the heavy differential spread thus increasing the value of Canadian product without us having to invest in refining here and bypassing unfriendlies like BC and Que.

You are massively uninformed.

[chuckChuck]

So why are Kenney and Moe so mad about the loss of the planned KXL? Since they should know we will have enough pipeline capacity in the works, it looks like political grandstanding and theatre.

And how do you blame Trudeau and the Liberals when they rescued TMX?

Alot of what Moe and Kenney say is pure politics designed to stir up resentment.

[chuckChuck]

Reuters is the one quoting industry analysts saying there is enough pipeline capacity in the works.

TMX will allow Canadian oil to be shipped to the US or anywhere the market wants it.

Jazz, You should stick to political and pandemic forecasting! Your record speaks for its self! LOL

[shtferbrains]

So no need to ship all those unit trains of crude at much higher prices and much higher risk?

[bucket]

Alot of what Moe and Kenney say is pure politics designed to stir up resentment.

It doesn't take alot of brains to understand the value of a pipeline....people that resent this have jobs and brains and know who is footing the bill for this...