% | $
Quotes you view appear here for quick access.

Exxon Mobil Corporation Message Board

  • bluecheese4u bluecheese4u May 6, 2013 2:17 PM Flag

    Major oil sands producer: We need Keystone pipeline

    Major oil sands producer: We need Keystone pipeline

    By Ben Geman - 05/06/13 12:31 PM ET

    A big player in Canada’s oil sands believes the Keystone XL pipeline will eventually be needed to keep expanding production of the resource.

    “Long-term, we do need Keystone to be able to grow the volumes in Canada,” Canadian Natural Resources Ltd. President Steve Laut tells The Globe and Mail.

    The comment could provide political ammunition to environmental groups battling TransCanada Corp.’s proposed pipeline.

    Keystone opponents argue it will be a catalyst for expanding oil sands production, thereby worsening greenhouse gas emissions.

    As The Globe and Mail piece notes, Laut’s view breaks with other industry officials and a U.S. State Department analysis, which found that building Keystone wouldn’t have much affect on overall production growth.

    The Obama administration is weighing whether to grant a permit for Keystone, which would bring oil from Alberta’s oil sands projects across the U.S. border en route to Gulf Coast refineries.


87.28+0.82(+0.95%)Sep 30 4:01 PMEDT