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Cheap gas is not good news for those who worry about climate change - LA Times
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praise the sky pixie of your choice if that pipeline is abandoned. Tarsands are the worst.
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For Keystone backers, though, the situation may be more dire. Next month, when Republicans take full control of Congress, there will probably be veto-proof majorities in both houses that can force the Obama administration to finally approve the pipeline project that would carry oil from Alberta’s tar sands to Gulf Coast refineries and ports. However, hosannas are not echoing through the oil industry just yet. Oil industry experts are saying low gas prices may have made the pipeline financially untenable.
Extracting the tar sands oil through hydraulic fracking is not a cheap process and, with oil selling at a five-year low, what once looked like a money-making venture now seems, at best, a break-even deal. One Texas-based energy analyst told the Los Angeles Times, “The economics of this project are becoming increasingly borderline.”
praise the sky pixie of your choice if that pipeline is abandoned. Tarsands are the worst.