Tuesday, November 18, 2014

Oil Could Rise to $150 A Barrel Without Keystone XL Pipeline

by JASmius



....precisely as the Obama Regime intends:

Moneynews insider Sean Hyman agrees with Republicans in Congress on the importance of the Keystone XL oil pipeline.

"It's needed," he told Fox Business Network. "What we have right now [in terms of low oil prices] is a gift. These low prices are not going to last."

The House passed a bill to approve Keystone last week. Also last week, U.S. crude prices fell to a four-year low, and December West Texas Intermediate crude futures settled at $75.64 a barrel Monday.

None of which has anything to do with Keystone XL, because energy exploration and the supporting infrastructure needed to extract and transport it to the marketplace are all about future needs - which aren't going to be declining anytime soon, or ever:

"We'll see $100, $150 if we don't do something [about supply] for the future," Hyman predicted.

"Right now is taken care of. This pipeline is looking into the future and taking care of oil needs two-plus years out. . . I'd rather be getting oil from Canada than who knows where in the Middle East."

Yeah, so would I.  Well, except for getting at and extracting our own oil, of which we have more than even the Cheesers do.  Pity King Hussein will never, ever allow that.

Leading to the obvious question....

So what happens to oil prices from here? "I think we will probably see oil decline to probably the $65 to $75 area before it bottoms and heads higher," Hyman noted.

I don't know about y'all, but I've grown rather fond of paying 75 cents less per gallon at the pump than I did a month or two ago.  I'd be even more fond of bringing that pump price even lower, back to the halcyon days of the 1990s, when gas was a buck-fifty a gallon and I could afford to commute fifty miles each direction.  Taking away what remains of OPEC's leverage over us would be pure gravy.

It may not be easy being green....



....but when it's so much cheaper and warmer and more all-around convenient to be "oil-black," why would anybody in their right mind bother?

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