It's unclear where oil piped through Keystone XL might end up [View all]

[Omaha Steve]

http://www.omaha.com/article/20131112/NEWS/131119763/1685#it-s-unclear-where-oil-piped-through-keystone-xl-might-end-up

By Joe Duggan

LINCOLN — The proposed Keystone XL pipeline has prompted massive speculation over what would happen to the oil TransCanada Corp. seeks to move to the Gulf Coast.

Given that the United States imports about 8 million barrels a day, it seems logical to conclude that the 730,000 barrels of Canadian oil transported daily by the pipeline would displace crude from countries such as Venezuela and Saudi Arabia.

Such a scenario may have played out five years ago, when the pipeline was proposed, but today, America is in the midst of a domestic oil boom. The United States now exports millions of barrels of petroleum products such as gasoline, diesel and jet fuel.

So it appears likely that at least some of the oil delivered by the controversial pipeline would end up on the world market as well.

FULL story at link.