Wednesday, October 5, 2011
U.S. Self-sufficient Oil Production would be a Threat to both the Tarsands and the Keystone Pipeline XL
U.S. Oil Production a Threat to Canadian Oil Industry So let's say the U.S. becomes relatively oil self-sufficient by 2017, as some argue, and let's say that self-sufficiency does not fully offset imported oil from Mexico and Venezuela, as the Tarsands organizations would hope. What happens to the main if not the only market for Alberta Oil? I think there is a compelling argument for the U.S. to keep the imports taps from Mexico and Venezuela as supplements when necessary, for this would not only mitigate potential shortages but, more importantly, solve one gigantic political and environment issue raging right now: namely, with relative self-sufficiency and supplementary backup sources, why allow the contentious Keystone XL pipeline to be built? Several downside factors would remain, however: the U.S. may still want to built the pipeline to create jobs and stimulate the economy, the U.S. would continue to deepen its dependency on oil instead of aggressively pursuing alternate green forms of energy, and the tarsands group would begin no doubt to seek Asian markets through our West Coast much more aggressively.