Most Keystone Pipeline Oil Would Be Consumed in US
A new report by IHS finds that about 70% of oil from the Keystone Pipeline would remain in the US, in contrast with the left's perpetuated misunderstanding that most Keystone XL crude oil would be exported. In fact, it is currently illegal for the American companies to export crude oil, thanks to an arcane law. The report also highlights the impact of greenhouse gas from processing oil imported through the pipeline would be negligible, as the imported oil would be taking the place of, rather than being added to other imported crude oil with similar carbon intensity, such as from Venezuela. Overall, the report shows yet more solid evidence that the Keystone XL pipeline would be a net benefit to the US in terms of jobs, low environmental impact, and reduced dependency on foreign oil.
But no good thing is without its detractors: Senator Ed Markey (D-Mass) makes unambiguous claims that he believes most, if not all Keystone oil would be exported as part of an “Oil Industry Export Plan”. In a press release, Markey states:
“The Canadian Keystone export pipeline isn’t about helping Americans at the gas pump, it’s about pumping up profits for oil companies. This export pipeline would make the United States a middleman to ship Canadian oil to the thirstiest foreign markets abroad, where they can charge more for their oil while our country assumes all the environmental risk.”
Unfortunately for Markey, if you take advantage of widespread public misconceptions, you often find yourself eating crow.
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Bill O' Reilly reported that 100% of all production from the fields sending their oil through that pipeline was presold to China. You can fantasize all you want about who might use it here but the fact remains it has been purchased by the Chinese and it is going to China.