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The Water Cooler
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The Problem in Cushing (Oil Glut)
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<blockquote data-quote="Hobbes" data-source="post: 1615633" data-attributes="member: 3371"><p>We had a thread a while back that touched on this.</p><p></p><p><strong>[Broken External Image]</strong></p><p></p><p><a href="http://www.transcanada.com/keystone.html" target="_blank">http://www.transcanada.com/keystone.html</a></p><p></p><p>In a nutshell, lots of new oil is flowing in from Canada and right now the bottleneck is Cushing.</p><p></p><p>Which brings up the Keystone XL expansion project.</p><p>It hasn't made a lot of news in OK yet, even though eminent domain cases have been initiated against landholders in OK already.</p><p>Here is a story in the oklahoman about an eminent domain condemnation against an OK farm that was later dropped:</p><p><a href="http://newsok.com/article/3598678" target="_blank">http://newsok.com/article/3598678</a></p><p></p><p></p><p>Read more: <a href="http://newsok.com/canadian-company-drops-condemnation-lawsuit-over-pipeline-route-through-oklahoma/article/3598678#ixzz1XmxdzlDD" target="_blank">http://newsok.com/canadian-company-drops-condemnation-lawsuit-over-pipeline-route-through-oklahoma/article/3598678#ixzz1XmxdzlDD</a></p><p></p><p></p><p>In Nebraska there have been many eminent domain condemnation proceedings and it's a real hot button issue.</p><p></p><p>On top of that, 4 different refinery companies have sued TransCanada to be released from their transportation contracts</p><p>because of cost overruns.</p><p></p><p>Even if the expansion project is approved it won't be finished for several years and won't reach full capacity until around 2050 so new storage capacity is being added in Cushing.</p><p>_________________________</p><p></p><p><span style="color: #FF0000">What bothers me about the expansion project is it looks like the intention might be to condemn private land in the US to build a pipeline to the gulf coast that will probably be used to simply</span></p><p><span style="color: #FF0000">load that crude oil onto gulf coast tankers and ship it to the highest bidder somewhere else in the world besides the US.</span></p><p><span style="color: #FF0000">China maybe.</span></p><p><span style="color: #FF0000">It's not the kind of crude that gulf coast refineries prefer to refine into gasoline as it's much more corrosive and has higher sulfur content than what they</span></p><p><span style="color: #FF0000">refine now.</span></p></blockquote><p></p>
[QUOTE="Hobbes, post: 1615633, member: 3371"] We had a thread a while back that touched on this. [b][Broken External Image][/b] [URL]http://www.transcanada.com/keystone.html[/URL] In a nutshell, lots of new oil is flowing in from Canada and right now the bottleneck is Cushing. Which brings up the Keystone XL expansion project. It hasn't made a lot of news in OK yet, even though eminent domain cases have been initiated against landholders in OK already. Here is a story in the oklahoman about an eminent domain condemnation against an OK farm that was later dropped: [URL]http://newsok.com/article/3598678[/URL] Read more: [url]http://newsok.com/canadian-company-drops-condemnation-lawsuit-over-pipeline-route-through-oklahoma/article/3598678#ixzz1XmxdzlDD[/url] In Nebraska there have been many eminent domain condemnation proceedings and it's a real hot button issue. On top of that, 4 different refinery companies have sued TransCanada to be released from their transportation contracts because of cost overruns. Even if the expansion project is approved it won't be finished for several years and won't reach full capacity until around 2050 so new storage capacity is being added in Cushing. _________________________ [COLOR="#FF0000"]What bothers me about the expansion project is it looks like the intention might be to condemn private land in the US to build a pipeline to the gulf coast that will probably be used to simply load that crude oil onto gulf coast tankers and ship it to the highest bidder somewhere else in the world besides the US. China maybe. It's not the kind of crude that gulf coast refineries prefer to refine into gasoline as it's much more corrosive and has higher sulfur content than what they refine now.[/COLOR] [/QUOTE]
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