Trump To Sign Executive Orders Advancing Keystone, Dakota Pipelines (Warren Buffet will not be happy)

[SirLinksALot]

SOURCE: ZERO HEDGE

URL: http://www.zerohedge.com/news/2017-01-24/trump-sign-executive-orders-advancing-keystone-dakota-pipelines


It is just day two of his presidency, and already Trump is taking a sledgehammer to the Obama legacy: in his latest move reported moments ago by Bloomberg, president Trump intends to sign two executive actions today "that would advance construction of the Keystone XL and Dakota Access pipelines", putting a spoke, so to say, in the train wheels of Warren Buffett's train-based oil transportation quasi-monopoly.



More details from Bloomberg:

Keystone was rejected under former President Barack Obama. Trump’s move on Energy Transfer Partners LP’s 1,172-mile Dakota Access project aims to end a standoff that has stalled the $3.8 billion project since September, when the Obama administration halted work on land near Lake Oahe in North Dakota.
 
The moves, taken on Trump’s fourth full day in office, mark a major departure from the Obama administration’s handling of the controversial oil pipelines. The steps vividly illustrate Trump’s plan to give the oil industry more freedom to expand infrastructure and ease transportation bottlenecks.

Expect an angry reaction from Warren Buffett, which will promptly flow through to funded environmental protest groups, who will double down in their defense of the two pipelines, of which the Dakota Access was the prominent center of media attention in the waning days of Trump's presidency.

[Wingnut]

President Trump has signed executive orders clearing the way for the controversial Dakota Access and Keystone XL oil pipelines to move forward, according to people who have been briefed by Trump advisers. And he signed an executive order to expedite environmental reviews of other infrastructure projects.

The orders will have an immediate impact in North Dakota, where the pipeline company Energy Transfer Partners wants to complete the final 1,100-foot piece of the 1,172-mile pipeline route that runs under Lake Oahe.The pipeline would carry oil from the booming shale oil reserves in North Dakota to refineries and pipeline networks in Illinois.

The Standing Rock Sioux tribe and other Native American groups have been protesting the project, which they say would imperil their water supplies and disturb sacred burial and archaeological sites. The Army Corp of Engineers called a halt to the project in December to consider alternative routes. The sources spoke on the condition of anonymity so they could discuss details that have not been made public.

https://www.washingtonpost.com/news/energy-environment/wp/2017/01/24/trump-gives-green-light-to-dakota-access-keystone-xl-oil-pipelines/?utm_term=.cfc7c9af22e2

[Bigun]

VERY good!

[thackney]

http://www.bbc.com/news/world-us-canada-38734450

...In the White House on Tuesday morning, Mr Trump said both projects would be subject to renegotiated terms and conditions.

As he signed the Keystone XL measure the president said it would create a "lot of jobs, 28,000 jobs, great construction jobs"....

...Signing another order calling for US steel to be used in construction of oil pipelines, Mr Trump said: "From now on we're going to start making pipelines in the United States... like we used to do in the old days."...

[dfwgator]

MORE WINNING!

[IsailedawayfromFR]

http://www.bbc.com/news/world-us-canada-38734450
...Signing another order calling for US steel to be used in construction of oil pipelines, Mr Trump said: "From now on we're going to start making pipelines in the United States... like we used to do in the old days."...

Is this for all pipelines to be using US Steel or just Keystone?

This seems a significant proposition if the former.

I worked for an oil company that had US Steel as its partner.  We drilled a challenging well and had to use Japanese steel for its casing as the largest steel company in the US could not meets its specs.

Very embarrassing for them.

[thackney]

Is this for all pipelines to be using US Steel or just Keystone?

This seems a significant proposition if the former.

I worked for an oil company that had US Steel as its partner.  We drilled a challenging well and had to use Japanese steel for its casing as the largest steel company in the US could not meets its specs.

Very embarrassing for them.

USA manufactured steel, not the specific company.

It was a separate order/memorandum, not in the specific Keystone XL or Dakota Access order.  I haven't found the text yet.

[IsailedawayfromFR]

As a reminder to all, here's what Obama had to say on Keystone:

“Shipping dirtier crude oil into our country would not increase America’s energy security,” Mr Obama said, explaining that the pipeline would not boost US jobs. “What has increased America’s energy security is our strategy over the past several years to reduce our reliance on dirty fossil fuels from unstable parts of the world.”

How many different ways did this guy obfuscate or outright lie?

[mountaineer]

Clarification from Mark Knoller of CBS News:

Mark Knoller ‏@markknoller 12m12 minutes ago

Pres Trump signed only one Executive Order today: on expediting environment reviews. The pipeline documents were presidential memoranda.

[txradioguy]

If anyone has any stock in BNSF might be time to sell before Mr Buffett divests himself from the company.

[thackney]

If anyone has any stock in BNSF might be time to sell before Mr Buffett divests himself from the company.

BNSF is not a separate company, but a direct subsidiary of Berkshire Hathaway Inc.

[txradioguy]

BNSF is not a separate company, but a direct subsidiary of Berkshire Hathaway Inc.

True...I guess what I was inarticulately trying to say was that Mr. Buffett might decide to sell his stake in BNSF since he won't be hauling massive amounts of oil once those pipelines get built.

[thackney]

True...I guess what I was inarticulately trying to say was that Mr. Buffett might decide to sell his stake in BNSF since he won't be hauling massive amounts of oil once those pipelines get built.

I really doubt it.  They are far bigger than just North Dakota oil and I don't see the need for ND oil transportation drying up because of a couple more pipelines.



https://northdakotapipelines.com/oil-transportation-table/

[txradioguy]

I really doubt it.  They are far bigger than just North Dakota oil and I don't see the need for ND oil transportation drying up because of a couple more pipelines.



https://northdakotapipelines.com/oil-transportation-table/

Do you think...and my apologies if I missed it in that chart...will the Keystone XL pipeline being built hurt BSNF?  Or like with the stuff coming from ND and Wyoming...not really make a dent?

[IsailedawayfromFR]

Clarification from Mark Knoller of CBS News:

Not really any difference at all, just whether it is posted in the Federal Register or not.
I believe they have the same effect on the power of the Presidency.
Do you know anything different?

[thackney]

Do you think...and my apologies if I missed it in that chart...will the Keystone XL pipeline being built hurt BSNF?  Or like with the stuff coming from ND and Wyoming...not really make a dent?

Keystone XL went through open season with companies making commitments to use the pipeline to move oil.  What I remember is of the 830,000 barrels per day, about 100,000 bpd was for oil for US produced oil.  Keep in mind, the pipeline doesn't even enter North Dakota.

[thackney]

Presidential Memorandum Regarding Construction of the Keystone XL Pipeline
https://www.whitehouse.gov/the-press-office/2017/01/24/presidential-memorandum-regarding-construction-keystone-xl-pipeline

Presidential Memorandum Regarding Construction of the Dakota Access Pipeline
https://www.whitehouse.gov/the-press-office/2017/01/24/presidential-memorandum-regarding-construction-dakota-access-pipeline

Presidential Memorandum Regarding Construction of American Pipelines
https://www.whitehouse.gov/the-press-office/2017/01/24/presidential-memorandum-regarding-construction-american-pipelines

Presidential Memorandum Streamlining Permitting and Reducing Regulatory Burdens for Domestic Manufacturing
https://www.whitehouse.gov/the-press-office/2017/01/24/presidential-memorandum-streamlining-permitting-and-reducing-regulatory

[bolobaby]

Mandating U.S. made pipes? While I like the thought, I wonder about Constitutional authority.

[NavyCanDo]

If anyone has any stock in BNSF might be time to sell before Mr Buffett divests himself from the company.

Do we see the connection here, Warren Buffett and George Soros both profit if the oil is shipped by BNSF rail?

[IsailedawayfromFR]

Do we see the connection here, Warren Buffett and George Soros both profit if the oil is shipped by BNSF rail?

The bulk of oil produced in North Dakota during the past 10 years or so has been by rail by the company whose principal investor is Buffett.  It is no coincidence that Buffett lobbied Obama vigorously to stay the pipeline so he could keep his profits coming in.

[thackney]

Mandating U.S. made pipes? While I like the thought, I wonder about Constitutional authority.

Exactly.  A tarriff is legal.  Telling you that you will only get approval if you submit to a little political blackmail is a different game.

[rangerrebew]

Trump signs order advancing Keystone XL and DAPL pipelines
 
By Karen Graham     19 hours ago in Environment
President Trump will fulfill another campaign promise today, giving the oil industry more freedom to expand its infrastructure. Trump will sign an order to advance the construction of the controversial Keystone XL and Dakota Access oil pipelines.
TransCanada Corp's Keystone XL pipeline was rejected under President Obama and Energy Transfer Partners' $3.8 billion Dakota Access project was halted in its tracks when it reached Lake Oahe in North Dakota amid protests by Native Americans, environmental groups, and citizens around the world, reports Bloomberg.

President Obama stopped the Keystone XL pipeline in 2015, saying its construction would undermine the country's efforts to clinch a global climate change deal. That pipeline would run from Alberta, Canada to refineries on the Gulf Coast. The government needed to approve the pipeline because it crossed over our border, according to CTV News.

Read more: http://www.digitaljournal.com/news/environment/trump-to-sign-order-advancing-keystone-xl-and-dapl-pipelines/article/484320#ixzz4Wm4rNhpP