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.
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.
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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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.
The State Department says it would have a negligible effect on climate change. So it’s a go, right? Hardly.
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.
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.
The US Geological Survey announced a twofold increase in estimated mean oil resources in the Bakken and Three Forks Formations.
(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.