I wish he had mentioned the pipeline oil spill into the frozen Yellowstone River two days ago. Virtually impossible to clean up and the town's water is now contaminated. The much larger Keystone XL will cross 14 rivers including the Missouri and Platte. We will eventually regret it was built.
The SOR is currently 95% full with room for 36M additional barrels. It has a total capacity of 727M barrels. The average cost of the oil in the reserve is $29.70/barrel. Filling it wouldn't stabilize the price of oil, jobs, or anything else. I suppose it might increase the national debt. The oil in the shale areas is a significant new reserve.
And let's not forget the 241 US servicemen killed in 1983 in Beirut by a suicide bomber! Funny how people who complain about Bengazi never mention this happened when their hero Reagan was president.
Best efforts? Give me a break. Shale projects are full steam ahead. Also, he just approved Gulf of Mexico lease sales of 94 million acres (an area larger than California) for offshore drilling. He did block the Keystone pipeline proposed route, thank goodness.
Many want it ... especially Republicans. My question: Why do Republicans support a project that invokes eminent domain on many farms and ranches of private landowners...by a Canadian company? I thought the Rep opposed the government interfering with private property rights!
In Dimons league? You must be kidding.
If Dimon is so smart why did JP Morgan break the law in 2011-12? $20,000,000 of that $50,000,000 fine should have come from his salary. He has a big advantage Janet does not have...he sets his own salary. As I said...to some people this makes sense.
No, not jealousy. I've done OK during my work career. It's that I'm always amazed at the disparity between the importance to society of what people do and what they are paid for doing it. Often the lowest paid work is the most important work, and vice versa. Very strange!
For example, the oil/gas (KMI) analyst at Goldman Sacs probably makes much more than Janet Yellen. Yet he has no responsibility for the accuracy of his opinions and is largely ignored. Jamie Dimon has a trillion dollar business buying and selling derivatives and CDO's. What is the value of that for 95% of Americans? None. And the same applies to the millionaires that run companies making fashionable shoes and clothes, or mine gold and diamonds, or operate casinos. And, as we all know, the lowest paid workers grow and harvest the food we eat.
No. And I'm not assuming Dimon could run the Federal Reserve either.
It's a question of relative responsibity. Janet is responsible for ensuring the entire complex US economy is healthy.and growing...and to a degree the economies of the entire world. Dimon is only responsible for keeping one company healthy and growing. By that measure either Janet is grossly underpaid or Dimon is grossly overpaid...in terms of their relative responsibility for the assets they oversee.
To me that is strange but true. Janet would have to work 100 years to make what Dimon makes in one year.
Various opinions given, pro and con, on this investment. Some contend the Bakken oil will begin to decline steadily in a few years. That's why, some say, there has been little interest by pipeline companies.
I checked a Bakken formation map. It covers an enormous area...200,000 sq miles of North Dakota, Montana, and Canada. Many large areas currently have no wells at all. I'm no expert, but it's hard to imagine the Bakken play ending anytime soon even if existing wells stop producing.
Enbridge built a 145,000b/d pipeline 77 miles north from North Dakota (across the border) in 2013 to connect with their 2,400,000 b/d west/east pipeline. Keystone XL crosses the border too but has a 800,000b/d capacity, is 875 miles long, and carries tar sands oil, not light Bakken crude.
I'm pretty confident the Bakken investment was a smart move.
T Boone Pickens failed to predict the drop in oil prices. No way to know if his next prediction will be true.
Yes, I remember that discussed during the 2008 campaign. Newt Gindrich said, if elected, he would lower it. Maybe he was going to release his own internal gas for public consumption. He had plenty and, in fact, still does.
I suggest you Google "Keystone XL Pipeline Files for Eminent Domain in Nebraska" filed 3 hours ago. Arguments for both sides in the article. There are also many other articles...both pro and con.
The US segment of the pipeline is 875 miles long and 36" in diameter. It's buried 4 feet deep within a 110 foot width ribbon of land and 50 foot permanent right of way. It will pass UNDER 14 rivers including the Missouri, Platte, and Niobara.
The chief of the Rosebud Sioux Tribe has declared an "act of war" if the pipeline crosses their reservation.
In my opinion, eminent domain was never intended for private gain, especially be a foreign (Canadian) company. This point is ignored by the very people who should support it...conservative Republicans.
I've never been opposed to Keystone building a pipeline. I oppose the route they chose. Keystone already has a pipeline in operation, since 2010, with the identical start and end points. Why not run the new one parallel to the existing one? All this contention, or most of it, would disappear including the very real fear the Indians will sabotage it. I've never understood why this alternative is never discussed. The same crew could monitor and maintain them both, the 2010 route is well understood, rights of way approved, etc. The Republicans want it approved whether it makes sense or not. It DOES NOT make sense.