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[Patryn]

After all the fights over the KXL pipeline, it may be the collapse of oil prices and uncertainty of the oil market that really dooms it:

Keystone XL is facing a new challenge: The oil producers and refiners the pipeline was originally meant to serve aren’t interested in it anymore.

...

TransCanada Chief Executive Russ Girling remains committed to completing Keystone XL and believes it will prove profitable in the long term, say two people familiar with his thinking. But it may be years before the company recoups its investment in the pipeline, these people say.

...

Refiners want the flexibility of being able to buy oil from wherever it is cheapest. In a world awash in low-price oil, Canadian crude doesn’t look as attractive as it once did. Many refiners thus far are unwilling to commit to long-term deals for Canadian crude, say people familiar with the matter.

“A lot of water has gone under the bridge over the last seven or eight years since we proposed that project with respect to where energy prices are today,” Mr. Girling told investors in May. “So it all sort of complicates the negotiation.”

...

While Keystone XL stalled for years, other projects moved forward. Goldman Sachs analysts estimate that Enbridge Inc.’s expansion of an existing pipeline connecting Alberta and Superior, Wis., will be completed by 2019, while Kinder Morgan Inc.’s expansion of the Trans Mountain Pipeline from Alberta to the coast of British Columbia will be finished by 2020. They predict Keystone XL may not be finished until 2021.

 

[PoorChoices]

So after everything involved and the shit-storm that the pipeline itself caused, they don't want it?

I don't have an appropriate .gif for this.

 

[jmdajr]

Obama didn't want it, it must be good!

Wait, Obama is gone?

 

[bachikarn]

Capitalism saves the day!

 

[Chmpocalypse]

I'm not fully informed on the oil market - is there an oversupply situation in effect now? Is it because of a rapid rise in the use of alternative energies, or something else?

(Also, fuck those greedy douches. I support the water protectors all the way!)

 

[subrock]

I hope the collapse of oil comes hard and fast now that electrification and solar are starting to gain some momentum. Hopefully Canada is wise enough to stop its own pipelines that’ll likely be vestigial before they’re done.


Good article: https://medium.com/@sethmiller_59231/this-is-how-big-oil-will-die-38b843bd4fe0

 

[You Are Viewtiful]

They might want it in the future if prices go back up.

 

[Harry Stewart]

Yeah this has been known for months, but TransCanada has been tight lipped because of how embarrassing it is. Canada is focusing on other projects to export its oil sands production westwards to Asia.

 

[kirblar]

I'm not fully informed on the oil market - is there an oversupply situation in effect now? Is it because of a rapid rise in the use of alternative energies, or something else?

(Also, fuck those greedy douches. I support the water protectors all the way!)

Part alternative energy, part OPEC keeping the oil flowing to f up Russia's economy which hurt Canada and parts of the US as well.

 

[Candescence]

So fossil fuels in general are being fucked over not only by the rapid efficiency and affordability of renewables, but in the case of oil, its own industry globally is fucking itself over due to OPEC trying to fuck over the competition? Ah, the free market is a cruel mistress indeed.

I'm glad the economics are lining up in the right way to make it easier to save our climate. For all of Trump's bluster, fossil fuels are on their way out. It'll take a bit longer for oil to really crash, but coal is already feeling the pain.

 

[1st Course]

Part alternative energy, part OPEC keeping the oil flowing to f up Russia's economy which hurt Canada and parts of the US as well.

Everyone in OPEC (aside from Iraq and Libya) is lowering production. Russia itself is also lowering production.

So fossil fuels in general are being fucked over not only by the rapid efficiency and affordability of renewables, but in the case of oil, its own industry globally is fucking itself over due to OPEC trying to fuck over the competition? Ah, the free market is a cruel mistress indeed.

I'm glad the economics are lining up in the right way to make it easier to save our climate. For all of Trump's bluster, fossil fuels are on their way out. It'll take a bit longer for oil to really crash, but coal is already feeling the pain.

Otherwise. Most of the WW increase in oil production come from non-OPEC countries like the US, Brazil (plus Iraq)

(chart in thousand barrels per day.

 

[thesaucetastic]

Is this the pipeline that was going through native lands in Nebraska? Karma does exist!

 

[Circle Jerk]

Obama didn't want it, it must be good!

Wait, Obama is gone?

Wow, that's not even remotely what the article said. Like, the amount of mental backflips to get to this point is impressive.

 

[Zekes!]

Is this the pipeline that was going through native lands in Nebraska? Karma does exist!

No, Canada

 

[Captin Quacker]

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