Why does Canada want to build a pipeline?

They were going to sell to the U.S. or to China.

Strategically it was better for both countries to keep it in the neighborhood.

Now, it is going to go to China.

Pipeline jobs

Also, don’t think Biden & pals are only going after the pipeline. They’re after the US & Canada oil industry.

You may not realize, but Biden has “business interests” within the energy sectors of other countries. Remember Burisma Holdings?

It’s better for the Biden syndicate if the US buys oil from sources infiltrated by the Biden syndicate.

What caused the glut? How does putting more crude on the market raise prices?

That glut of oil would be moved over time, not all at once. Prices would still be controlled by the market.

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They were going to sell to the U.S. or to China.

Strategically it was better for both countries to keep it in the neighborhood.

Now, it is going to go to China.

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How are they going to sell it to China if they can’t move it to the water?

And it doesn’t matter where it comes from or where it goes.

To answer the OP, they wanted to get the oil to the water so they could get better pricing. That’s where the refineries are and where the export market is located...where you can sell to anyone including China.

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If you mean removing the glut by getting it to market then that wouldn’t making higher prices , that would mean additional supply which lowers prices. Trump pushing for energy independence kept prices lower which also has a downstream effect on all people and companies

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Getting it to market doesn't mean our market only. Getting it to Texas means the oil can be put on ships for the export market. Why would TransCanada want to do something to make their oil cheaper? We get the temporary jobs, they get the permanent economic benefit.

How’s the Huff Post these days, boy?

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How’s the Huff Post these days, boy?

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Not sure, I was reading an article on the Christian Science Monitor from 2012. LINK

"Most analysts agree that more Canadian oil flowing south would help reduce imports from other regions. Less obvious, however, is the fact that the Keystone XL pipeline is not actually needed to bring all that new Canadian oil to the US – a flow now projected to rise to 1.7 million barrels per day by 2030, according to the same DOE study. Often characterized by proponents as validating the need for the pipeline, that study actually found that Canadian oil import growth will go on at “almost identical” levels through 2030 using existing and new pipeline capacity as well as rail shipments – whether or not Keystone XL is built."

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During the approval process, TransCanada testified before Parliment that building the Keystone XL would allow them to move a glut of crude out of the midwestern U.S. A glut means low prices. Removing the glut would mean they could sell us the crude at a higher price, maybe a couple of billion per year. I understand why they would want this, I don't understand why you all seem to want it.

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Keystone pipeline is national security. In the event of foreign conflict we have oil supply from the NA continent versus a shakey middle eastern supply source. It would stabilize the North American economies for decades to come.

The cancellation was a green deal and the short of this is that there is no significant substitute for fossil fuels. The only viable option is solar panels on residential homes which might get you 10-15% reduction.

By using a pipeline you reduce the transportation cost by about $10/bbl. thus making it more competitive with other overseas suppliers. Do you want our refiners to pay more or less for raw materials?