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I'm currently watching the series, “The Men who Made America” (originally produced by the History Channel). It's a pretty cool retelling of the powerful men of the Gilded Age – Vanderbilt, Rockefeller, Carnegie, and others. If you haven't seen it, it's worth it just for the dramatic visuals and acting.Anyway, they brought up the point that when Vanderbilt and Scott decided they didn't want the railroads effectively being run by Rockefeller's oil needs, they decided to band together rather than cowtow to him. In response, Rockefeller cut out the railroads by building his own oil pipelines to transport the crude. Then just today, I saw in the news that demand for oil transportation in/around North Dakota is so high now that there aren't enough train cars to transport it and all the other goods that need to be transported (e.g. potatoes). Apparently, they don't seem to have a pipeline system set up there, and it costs four times more to transport oil by truck than it does by rail. I just thought this was interesting given the company warring that took place between oil/rail over a century ago.
Keystone XL would go through the Bakken formation as well as bring oil from the Canadian tarsands. Thank the liberal idiots for doing their best to destroy the economy by keeping commodities prices high. The price of oil affects the price of everything else. Environmental policy ensures that transportation costs remain higher than they need to be thus costing investment in other sectors.The difference is that Rockefeller wanted a monopoly and his competitors could find a workaround, now there is not one.
If they successfully oppose KXL that will be nothing compared to if they pass a carbon tax (to be honest, this terrifies me…and it's all based on science fiction). We better hope and pray our next few Congressional elections and President will be GOP.
It's my understanding that Keystone XL is meant to bring Canadian oil into the U.S. Would this be connected to/have an impact on oil from the Dakotas?
