Biden's decision to cancel Keystone is one the US will eventually regret

[Elderberry]

CNN by Robert McNally 2/8/2021

At first glance, President Joe Biden's executive order revoking the 1,200-mile Keystone XL pipeline cross-border permit may seem to be a symbolic bone throw to the environmental community. After all, the once cause célèbre pipeline project is much less economically viable now than when it launched 12 years ago and oil was at $100 per barrel. But quashing Keystone XL matters in two underappreciated and important ways.

First, Biden's reversal of the cross-border permits for the pipeline kicks off a regulatory onslaught on the petroleum industry's value chain, with unprecedented breadth, assertiveness and tangible investment impacts. Though this reversal won't damage the oil industry much, and it isn't absolutely essential to American oil right now, there are long-term consequences to this decision.

When oil prices next boom (and trust me, they will), investors will resume interest in pipeline projects and whoever is in the White House may regret Keystone XL's cancellation because the United States will have to rely more on less stable trading partners for oil.

More: https://www.cnn.com/2021/02/08/perspectives/keystone-cancel-biden/index.html

[IsailedawayfromFR]

Oil is, after all, the lifeblood of modern civilization.

Only fools and evil people forget history.

[Fishrrman]

Methinks there will be A LOT of railroad tank cars taken out of storage and readied for use in the days to come...

[thackney]

Methinks there will be A LOT of railroad tank cars taken out of storage and readied for use in the days to come...

Only a few years before many of those older design tank cars not allowed.

In May 2015, the Federal Railroad Administration and Transport Canada jointly announced the new DOT-117 specification to supersede the DOT-111 design, of which all examples would be required to be retired or rebuilt by May 2025.

https://www.progressiverailroading.com/mechanical/news.aspx?id=44360