"Exposed: Keystone XL Pipeline Will Export Energy Security Overseas"

[in_cog_ni_to]

In pushing for the Obama Administration’s approval of TransCanada’s proposed Keystone XL tar sands pipeline, the North American oil industry and its political patrons argue that the pipeline is necessary for American energy security and its construction will help wean America of dependence on Mideast oil. But a closer look at the new realities of the global oil market and at the companies who will profit from the pipeline reveals a completely different story: Keystone XL will not lessen U.S. dependence on foreign oil, but rather transport Canadian oil to American refineries for export to overseas markets.

A new report from Oil Change International lays out the case, based on data and documents from the U.S. Energy Information Administration and the Canadian National Energy Board, corporate disclosures to regulators and investors, and analysis of the rapidly shifting oil market.

The facts:

Keystone XL is an export pipeline. The Port Arthur, Texas, refiners at the end of its route are focused on expanding exports to Europe, and Latin America. Much of the fuel refined from the pipeline’s heavy crude oil will never reach U.S. drivers’ tanks.

Valero, the key customer for crude oil from Keystone XL, has explicitly detailed an export strategy to its investors. Because Valero’s Port Arthur refinery is in a Foreign Trade Zone, the company can carry out its strategy tax-free.<snip>

MUCH MORE AT LINK:

http://www.nationofchange.org/exporting-energy-security-keystone-xl-exposed-1314892904

[leveymg]

1. Here's the other end of the supply chain: China Nat'l Oil Co. largely owns the Alberta tar sands.

Four, five years ago, China bought out Husky Oil (Occidental) which owned much of the fields. It was then that the big push started to fund the pipelines south along with Sarah Palin's "pipeline to nowhere" - TransCanada's planned gas pipeline from Alaska to Alberta. See, http://www.dailykos.com/story/2008/08/30/579990/-Palins-$500-million-Pipeline-to-Nowhere

Billions of cubic feet of relatively clean gas used to cook Chinese-owned sludge out of the ground for export to the American market, and eventually back to China. Paid for with half a billion dollars of Alaskan taxpayer's money, courtesy of Gov. Sarah, and many billions more in various federal subsidies. Sweet deal for somebody.

[Duppers]

3. Please substantiate your claim that "China Nat'l Oil largely owns the Alberta tar sands"

Canning Fok, Hong Kong, is co-chair of the board, but that is far from proving that Husky is largely owned by China Nat'l Oil Co.

http://en.wikipedia.org/wiki/Husky_Energy

I would like nothing more than to prove this but I won't stoop to lies in order to do so.

There should be no doubt that mining these tar sands for oil is one of the worse ideas ever. And I know I could turn some soft rethugs against the idea if they thought China would profit.


- hardcore environmentalist here

[leveymg]

4. Here are a number of sources: now start turning the soft rethugs

Looks like China/HK companies own about a third of Husky and Syncrude, the largest tar sand producers and deposit owners.

Google: "China owns Alberta tar sands"
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China buys more of tar sands; Now owns 50% of proposed mine ...
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Apr 2, 2009 – China buys more of tar sands; Now owns 50% of proposed mine ... interest by the Chinese in Canada's oil, said a University of Alberta expert. ...
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Athabasca oil sands - Wikipedia, the free encyclopedia
http://en.wikipedia.org/wiki/Athabasca_oil_sands - CachedSimilar
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Oil sands were the source of 62% of Alberta's total oil production and 47% of all oil ... ConocoPhillips currently holds the largest position in the Canadian oil sands ..... synthetic crude oil from the oil sands to China and elsewhere in the Pacific. ...
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Who Owns Our Oil Sands? Foreign ... - Alberta Federation of Labour
http://www.afl.org/.../who-owns-our-oil-sands-foreign-corporations-stake-... - Cached
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Apr 22, 2011 – U.S., French, British, Chinese, Thai, Korean and Norwegian ... Until recently, it's been conventional wisdom that Alberta's oil sands were second ...
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Dailymotion - China Moving in on Alberta's Tar Sands - 3Ceco.com ...

http://www.dailymotion.com/.../x6y9zy_china-moving-in-on-alberta-s-tar-sa_n...3 min - Oct 3, 2008
Tar Sands Green News 3Ceco.com Alberta China Energy Oil Pollution ... Should Canada actually rely on it's own Environment Ministers ...
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Andrew D. Miall: Alberta's Oil Sands: A New Regime of ...
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Jul 26, 2011 – While Alberta owns the resource, and has the responsibility for managing oil sands ... Opti Canada Sale: China National Offshore Oil Corp To Pay $2.1 Billion, Revive ... Alberta Oil Sands Development: A Sustainable Plan ...
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Tar Sands and Social Costs
http://www.greenpeace.org/canada/.../4/SocialCosts_FS_Footnotes_rev_4.pdf
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many, the UK and China - own huge chunks of Alberta's tar sands real estate.1. Many Canadian workers in the tar sands may be seeing large pay cheques, but ...
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Canada's tar sands: Muck and brass | The Economist
http://www.economist.com/node/17959688 - Cached
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Jan 20, 2011 – For those who exploit the tar sands, which contain the world's ... A flock of national oil companies has joined them, led since 2005 by China's .... calling this a “licence to operate”, even though Alberta's own carbon tax is just ...
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China's CNOOC buying Canadian oil sands producer - Yahoo ...
http://biz.yahoo.com › All Y! Services - Cached
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Jul 20, 2011 – Total production from Alberta oil sands is forecast to nearly triple to 3.7 ... also known as China Petroleum and Chemical Corp., owns a stake in ...
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China Eyes Canada's Oil Sands
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Jun 26, 2011 – China Canada Oil Sands Tar Alberta .... By investing to boost Canadian production the Chinese "are growing the pie to meet their own demand. ...

Now Google: "Who owns Syncrude" (Syncrude is the largest partner in the consortium)

China plans Syncrude purchase
andrew willis
Globe and Mail Update
Posted on Monday, April 12, 2010 11:23AM EDT

China is about to ramp up its exposure to the oil sands, with Bloomberg reporting Monday that China Petroleum & Chemical Corp., Asia’s biggest refiner, will drop $4-billion for a 9 per cent stake in Syncrude Canada Ltd.

Sinopec is expected to grab the Syncrude position that ConocoPhillips put up for sale last October.

The move will raise eyebrows in the oil patch, as industry experts all but consigned the ConocoPhillips stake to Calgary-based Canadian Oil Sands Trust, which owns 36 per cent of Syncrude. The oil sands company claims 5.1 billion barrels of proven and probable oil reserves. The operator of this massive pioneer in the sector is Exxon Mobil subsidiary Imperial Oil.

If Bloomberg’s reporters in Hong Kong have this one right, the Sinopec investment will be the latest in a series of acquisitions in Alberta by state-owned Asian companies.

Last year, for example, PetroChina purchased majority control of two properties owned by Athabasca Oil Sands for $1.3-billion. (END)


Finally, Google China Huch Owns Husky:

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Hutchison Whampoa - Wikipedia, the free encyclopedia
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Hutchison is also a major shareholder of Husky Energy, one of Canada's largest ... It also owns 60.4% of Hutchison Telecommunications International Limited ... Jardine Matheson Group · List of charities in the People's Republic of China ...
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Li Ka-shing - Wikipedia, the free encyclopedia
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By 1950 he was able to start his own company, Cheung Kong Industries. ...
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Hutch Synonyms, Hutch Antonyms | Thesaurus.com
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Synonyms for hutch at Thesaurus.com with free online thesaurus, antonyms, and definitions. Dictionary and Word of the Day.
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HK Hot Stocks - Hutchison jumps on Husky Energy IPO report
http://www.finanznachrichten.de › Nachrichten - Cached
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May 31, 2011 – The China Enterprises index of top locally listed mainland companies was up 1.52 percent. ... Hutchison owns a 35 percent stake in Husky Energy. Hutchison shares, down 10 percent since early April before Tuesday's jump, ...

[Duppers]

5. WOW!! Thank You!!

This is going out today.

You should do a thread on this here & at Kos.

[leveymg]

6. Will do, if I have time later. Feel free to jump on it.

Also, here's something I wrote a few years ago on this, when Sarah Palin, mother of the TCP, was earning her GOP pipeline wings that earned her a spot on John McCain's lap:

http://www.dailykos.com/story/2008/8/30/85718/9814/735/579990

[tularetom]

2. Of course it will

Why the fuck does anybody think that oil will stay in the US when they're planning to build the pipeline all the way to a port?

They could terminate that pipeline in Kansas or someplace and construct refineries and distribution networks to move the oil anywhere in the US but they're not doing that.

The oil will be sold to the highest bidder, except for those portions which have already been contracted for by some Asian countries.

We aren't getting any of it.