Friday, January 20, 2012

Keystone XL Pipeline - #3586 - Rush Limbaugh: Entrepreneurs Plot Their Way Around the Regime's Insane Keystone Pipeline Decision

From Bloomberg News: "TransCanada Corp. may shorten the initial path for its rejected Keystone XL project, bringing oil from Montana’s Bakken Shale to refiners in the Gulf of Mexico and removing the need for federal approval. 'There certainly is a potential opportunity to connect the Bakken to the Gulf Coast,' Alex Pourbaix, TransCanada’s president of energy and oil pipelines, said in a telephone interview today. 'That is obviously something we’ll be looking into over the next few weeks.' TransCanada’s $7 billion Keystone XL proposal to bring crude from Canada’s oil sands to the Gulf was rejected yesterday by the Obama administration. The project required U.S. approval because it crossed the border with Canada. The company may seek that approval after it builds the segment from Montana to the Gulf, Pourbaix said." There is so much oil and natural gas in the Bakken field. I've got a huge story today about the guy who is responsible for creating the Bakken field, a loan entrepreneur who has just demonstrated Americanism like it hasn't been demonstrated in a while. It's huge. It is a great story, much too long to share with you here. I'll maybe at some point do excerpts from it. So you take oil from the Bakken field and gas from the Bakken field and you pipeline that down to the Gulf. This is the alternative that TransCanada is thinking of union using. "The Bakken shale-rock formation is estimated to hold as much as 4.3 billion barrels of technically recoverable oil in North Dakota and Montana, according to a 2008 U.S. Geological Survey report. Oil production in North Dakota surged 42 percent to 510,000 barrels a day in November, exceeding the output of Ecuador."  Read more.......

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