Posted by paul on January 11, 2016 at 10:56:07 from (76.77.197.114):
In Reply to: Re: $15B lawsuit posted by pinball on January 11, 2016 at 09:14:40:
Oil prices are so low because there are several wars or near wars going on between the oil producing areas of Saudi, Iran, Russia. Each one needs to keep up oil production to fund their own needs; and more so they want oil prices low so their enemies don't get a lot of money from selling high priced oil. Its more complicated, but that the brunt of it. Then on top of that the USA developed a lot of new oil in North Dakota and so forth so we are importing less. All drops the cost of crude.
Many speculate that train owners are politically motivated to stop or slow new pipelines because the payoff is so good to the rail owners. See the other messages about that. Tree hugger types are opposed to everything and everything; they are manipulated to be in the forefront of being opposed to the terrible environmental thing a pipeline is..... When in fact as JD says, pipelines are vastly safer for the environment than rail or semis etc.
One knock on the popipeline is that Canada plans to ship the oil through the pipeline and export it out of our Texas ports and sell it to others, we in the USA won't be much involved in processing or adding value to it. Its just a shipping lane, low value to us. And that is true for now, but at some point, when we need oil again, having that pipeline there we will have first access to it, cheapest source of crude. Someday, in the future.....
But if we look at tree huggers and politics and big business, we see that there is very little looking ahead to our future, very little planning, but only looking at your own very narrow and needy selfish goals.
All this is just a summery, you decide if you believe any of it or not, not trying to start an argument.
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