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Posted Mon Dec 16 2013: from
Reuters:
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Keystone XL pipeline loses support from U.S. customer http://apocadocs.com/s.pl?1387206134
Continental Resources, one of the companies that has committed to ship crude on TransCanada Corp's proposed Keystone XL pipeline, now says the controversial pipeline is no longer needed.
Continental has signed on to ship some 35,000 barrels of its own oil from the Bakken field of North Dakota on the 1,179-mile, $5.4-billion Keystone XL line. But construction of the pipeline has been delayed for years as TransCanada has sought regulatory approvals, and Continental has since turned to railroads to get its crude to oil refineries...The largest U.S. railroads will likely transport about 400,000 carloads of crude oil in 2013, versus just 9,500 in 2008, according to estimates from the Association of American Railroads.
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[Read more stories about:
oil issues, economic myopia, short-term thinking]
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'Doc Jim says:
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At our current trajectory we will all end up tramps on those trains.
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