GOP Lied about XL pipeline lowering gas prices

[NJMaverick]

Quote: First of all, even if the Keystone XL pipeline were suddenly approved, it would not be completed until at least 2014, so building it would have no impact on gasoline prices this summer, predicted to be near record highs.

Quote:The Keystone XL pipeline, which would carry 1.1 million barrels per day, is specifically designed to deal with the fact that increased production of crude oil in Canada and the Great Plains has left a glut in that area — overwhelming refinery demand — and it is difficult to get the oil to the Gulf Coast, the center of U.S. refining. This has depressed the price of crude oil in the Midwest, though the Midwest refiners have not passed on the savings to consumers. (The price of gasoline in that area essentially is dependent on the global price because otherwise refiners would not ship the gasoline there.)

Quote:Philip K. Verleger, a noted oil economist, has argued that the pipeline would increase gasoline prices in the upper Midwest. He said yesterday that he stands by that estimate, figuring it would amount to between five and ten cents per gallon.
“Overall, the pipeline will have no impact on prices consumers pay. None. The reason is that the products produced from the crude will be sold into the world market -- exported -- if prices fall below world levels,” he said in an email. “This means that consumers outside the Midwest will get no benefit from the line while consumers in the upper Midwest may pay more.”

Quote:We also find it interesting that TransCanada, in its fact sheet on the Keystone XL pipeline, makes no claims that it will reduce gasoline prices—only that it will not increase prices. “The price of international oil prices has no impact on the operation of our pipeline and we do not profit from changing market changes,” TransCanada said. “Prices are set on a global level.”

http://www.washingtonpost.com/blogs/fact..._blog.html

[Peacetrain]

The oil is also headed out of country.. the GOP and its selective truth..The President will sign on to the Keystone as long as it proves spill will not contaminate the aquifer.. Interesting their Republican Governor sounded the alarm on the possible contamination and when the President backed him up.. he did a 180...

[jaxx]

I'm sending that link to Boehner. He's on twitter whining about KXL and gas prices.....and lying through his teeth about both.

[sandnsea]

The Republicans in Nebraska are responsible for the hold-up on this pipeline. They insisted the pipeline not go through the Ogallala Aquifer. A new path was negotiated, but that path has not gone through the EPA process, I don't think Keystone has even put in an application for the new path. That's what kind of liars the GOP has been on this issue.

[There Is No Spoon]

"GOP Lied"

Somewhat redundant eh?