Conventional Energy

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Activists hold a rally against government approval of the planned Keystone XL oil pipeline, in front of the White House in Washington January 10, 2015. The pipeline cleared two hurdles on Friday, setting up a showdown between Congress and President Barack Obama who has raised new questions about the project after more than six years of review. REUTERS/Jonathan Ernst

With respect to climate change, Keystone XL would transport 830,000 barrels per day of Canadian crude oil, the total greenhouse gas (GHG) emissions from which would be 147-159 million metric tons per year on a lifecycle basis. In the extreme case in which the oil does not displace any other crude oil production elsewhere in the world, the increase in GHG emissions would be about 0.4 percent of the world total.

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Climate advocates and representatives from the Rosebud Sioux Tribe in South Dakota protest against the Keystone XL pipeline in front of U.S. Senator Mary Landrieu's home (D-LA), the chair of the Senate Energy Committee, in Washington November 17, 2014. Reuters

The opposition to Keystone XL is one manifestation of the essential anti-human core of modern environmentalism that has become more prominent in the Democratic Party.

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Falling oil prices have been called shocking, unprecedented, and (most incredibly) a highly regrettable development that will end the rise of American stock market and create unrest and uncertainty around the world. However, what we are experiencing is the eighth oil price decline of more than 30 percent during the past 30 years.

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Working on an economic story today? Here’s the latest from¬†AEI experts on today’s economic stories.

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Oil companies are increasingly leasing trains to bring the crude from remote areas where it’s being produced to the markets where it’s needed. But several derailments involving oil-tank cars in the US and Canada over the past year have raised questions about whether rail shipments of oil are safe. Considering the thousands of oil shipments by rail, the accident rate is vanishingly small.

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Children interact with a protester dressed as a polar bear against the Keystone XL oil pipeline project, as a cut-out of U.S. President Barack Obama is seen nearby outside the White House in Washington, November 22, 2013. TransCanada Corp has waited more than five years for the Obama administration to make a final decision on the controversial project, which will take oil from the Alberta oil sands and North Dakota's Bakken field as far as the Cushing, Oklahoma, storage hub. REUTERS/Jason Reed

The State Department says it would have a negligible effect on climate change. So it’s a go, right? Hardly.

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Workers are seen at the construction site of the Panama Canal Expansion project on the outskirts of Colon City January 7, 2014. A Spanish-led consortium expanding the Panama Canal on Tuesday made a counter-proposal to jointly finance work on the project amid a row over costs on one of the world's top trade routes. Building consortium Grupo Unidos por el Canal (GUPC), led by Spanish construction company Sacyr, said it would contribute $100 million to a joint financing plan to keep the project going amid a cost overrun, and asked the canal administrator for a $400 million advance. REUTERS/Carlos Jasso

This year marks the 100th anniversary of the canal’s opening, and you would be forgiven if you were unaware that billions of dollars in U.S. business is riding on its expansion.

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Somewhere in the vast expanses of North Dakota’s Bakken shale formation, the idea that the United States would run out of oil came to end. Surging shale oil and natural gas production has turned conventional wisdom on its head about the nation’s energy future.

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The US Geological Survey announced a twofold increase in estimated mean oil resources in the Bakken and Three Forks Formations.

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(GRAPHIC) A vehicle mileage tax is being proposed as an alternative to the federal gas tax. Aside from the privacy concerns it raises, it is also a costly endeavor.

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