Ravi
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- #21
you didnt read my postOn another note, this little nugget was in the news today and it is also on wikipedia:
However, in 2011 it was reported that the U.S., for the first time since 1949, had become a net fuel exporter, and fuels (including gasoline, diesel, and jet fuel) were the top export. This leads many to question the validity of the energy security argument, since it seems that additional Alberta tar sands oil processed in the Gulf region is likely to be exported to foreign nations with ease through the Gulf of Mexico. As stated in a USA Today article, "...analysts say those [overseas fuel] sales are likely generating higher profits per gallon than they would have generated in the U.S. Otherwise, they wouldn't occur."
We don't seem to need Canada's oil so why are the Republicans so eager to get it?
While the media fixates on the political spin around the Obama governments rejection of TransCanadas Keystone XL pipeline, theres another, more important element to this story that has been grossly underplayed: growing domestic U.S. oil production, which will slash U.S. dependence on imported oil in the years ahead.
After decades of decline, U.S. oil output is growing rapidly again, thanks to the use of fracking (hydraulic fracturing) technology to open up previously untapped tight oil or shale oil deposits. (So much for Peak Oil theory.)
Some analysts say North Dakotas Bakken field alone where output has doubled to more than 500,000 barrels a day over the past two years could produce as much as one million barrels a day in a few short years.
Thats nearly as much oil as the U.S. now imports from Mexico (its third-largest source of foreign crude, behind Canada and Saudi Arabia), and almost half as much as the 2.3 million barrels a day the U.S. currently imports from The Great White North, the top foreign supplier.
Growing U.S. energy output a threat to Canada | Edmonton Journal
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Ravi the US oil producing states stand to gain. That was the point of Phase III. Everyone could link in and get their product to the Gulf Refineries.
Ezra Levant wrote a great book about Ethical oil. Do you really want to keep working with and getting your oil from dictators who starve their own or work with a country who has been your friend since both our inceptions?
How do we work this out? If you really want to keep getting oil from dictators, well hell's bells that changes our relationship doesn't it?