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originally posted by: Grimpachi
a reply to: rnaa
I read somewhere there would be 50 permanent jobs. I know big whoop.
Another big problem I have with the pipeline is that the government is going to use eminent domain to seize private property for a private company that isn't even a US company. Seriously WTF.
originally posted by: np6888
The issue isn't that it affects the environment, which I highly doubt anyone even cares about at this point. The issue is that it encroaches on the Natives' land, which everyone seems to be avoiding.
I fully understand your point on eminent domain. It is pretty heavy handed. The problem governments have is that sometimes the benefits to the overall country are so important that the loss to that group of people is worth it. Clearly eminent domain needs to be a court monitored process instead of a dictate from the government.
In this case I believe the Oil security provided by the pipeline is worth the eminent domain forcing people off some land. Many wars have been created over Oil and Oil security. It is a real serious concern. I do feel terrible for the ranchers and people who lose the use of their land.
originally posted by: amfirst1
a reply to: TheArrow
Better the US benefit from the pipeline than the OPEC countries hold and monopoly over oil. R u a traitor or are u pro America? U a globalist like Soros?
Both sides are right here. The fall in the oil price makes the pipeline decision more important, not less.
Let’s just invent some numbers here in order to illustrate the problem. Oil is at $100 a barrel when delivered to the refinery. It costs $40 to produce it in Alberta, $30 to ship it by rail and $5 if the pipeline were built. Yes, they are entirely made up numbers (although not a million miles from reality) just in order to illustrate the decision making process.
So, at that market price of $100 the oil will be produced with or without the pipeline. There’s a $30 profit in each barrel even after paying for rail transport. Now we halve the price to $50 at the refinery. All other costs stay the same. Well, if it costs $40 to produce and $30 to ship then obviously, after a winding down period, none will be produced and none will be shipped (we’ll ignore sunk costs and so on here). This would make Warren Buffett very sad as Berkshire Hathaway makes a fortune out of transporting that oil. But, fine, Buffett is made very sad. So also are all those people who own tar sands properties, Shell, the Koch Brothers and so on. Oh dear, what a pity. And of course Bill McKibben is overjoyed as those tar sands are no longer being mined.
Halving The Price Of Oil Makes Keystone XL More Important, Not Less