KEYSTONE XL GETS PRESIDENTIAL SEAL OF DISAPPROVAL

[RiverLover]

31. "Lower crude prices challenge Keystone pipeline"

11/14/14--Backers of the Keystone XL pipeline became emboldened recently by the prospect of a Republican-led Congress finally pushing the project through.

But can dropping crude prices punch a hole in the controversial project?

The cost of benchmark West Texas Intermediate oil dropped to $74.42 a barrel on Thursday — a 25% drop from the triple-digit highs it reached this summer. Federal analysts have warned that producers in the Canadian oil sands — slated to be a top consumer of the pipeline — will need oil prices to stay between $65 and $75 a barrel to make production there economically feasible.

"Assuming prices fell in this range, higher transportation costs could have a substantial impact on oil sands production levels — possibly in excess of the capacity of the proposed project," said a U.S. State Department report on the pipeline released in January....

http://www.usatoday.com/story/money/business/2014/11/13/crude-keystone-project/18994601/

We may not need a veto.