Skeptics in oil industry question whether Keystone XL pipeline is still needed
LINCOLN — On Friday, the developer of the Keystone XL pipeline said what more and more people in the oil industry have been saying: that the Keystone XL pipeline might be unnecessary.
Some opponents of the controversial tar sands pipeline have suggested this, but more and more people inside the oil industry are saying time has passed by the project.
Consider this:
» A column on oilprice.com questioned whether the Keystone XL had become “obsolete” due to low oil prices and cheaper sources of oil than Canada.
» “A New Problem for the Keystone XL: Oil Companies Don’t Want It” was the headline in a Wall Street Journal story last month about the shortage of oil producers willing to sign long-term contracts to finance the XL.
» Jeff Share, editor of Pipeline & Gas Journal out of Houston, wrote that the revival of the pipeline by President Donald Trump was “the biggest fake news story of the year.”
“As much as I would like to see it get built, I have serious doubts that it ever will,” Share said in an interview with The World-Herald. “Too much time has passed, too much controversy, the economics no longer work, and the need is far less.”
More: http://www.starherald.com/news/regional_statewide/skeptics-in-oil-industry-question-whether-keystone-xl-pipeline-is/article_48e2cc9a-e90d-53e5-beef-d44dfbd2de75.html
In this February 2012 photo, miles of pipe for the Canada-to-Texas Keystone XL pipeline are stacked in a field near Ripley, Oklahoma. THE ASSOCIATED PRESS
