In the long run, all we are out are a few thousand temporary jobs and a transcontinental pipe to transport a dying commodity. I'm not exactly sure how that will drastically effect precious metals.
No offense taken. Would I be incorrect in the assumption that just as many jobs would be created in the logistics of transporting the crude by alternate methods? I'm not down playing the importance of oil in life (or the creation of just about everything you own in life), but $7 billion put towards hydrogen efficiency would go much further in the long run.
Currently cost and fuel cell performance are the major challenges facing hydrogen as a viable alternative. Yet the fact of the matter is those challenges have to be overcome. That is a simple fact.
Back to the topic I digressed from. I just don't see shutting the door on this pipeline as an economy killer, but that is my opinion. According to my wife I am wrong all the time though.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Wait until we are at war with IRAN. He may change his mind. >>
It'll be too late. It'll several years to build a project of this size.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Like the guy said, Canada is just about on it's way to becoming a Chinese colony. They'll find out what it's like to trade with those lads. But probably too late.
I frankly do not understand the reasoning of letting the Chinese get a foot in the door with trading in the Americas whereby the Chinese Govt holds the purse strings.
The War On Prosperity continues. The regime enacted a Stimulus program that failed to produce jobs but rejects a private sector project that would create thousands of jobs.
The effect, if any, on PM's will be hard to distinguish from other economic factors.
One radio news update last week mentioned gas at $4.15-$4.45 by Memorial weekend and there is once again talk of $5.00 a gallon gasoline. Record high gas prices coupled with this pipeline decision could have serious political consequences for the 2012 election and could in turn affect PM prices.
The Tree of Liberty must be refreshed from time to time with the blood of patriots and tyrants. -Thomas Jefferson
<< <i>While leaving our oil in the ground causes us to pay more for oil, I am a firm believer that the last military with an oil supply will rule the world. I have no problem paying a little more now if it guarantees we deplete the oil reserves of others first. It could very well be part of our long term strategy. >>
I agree with this completely and I am glad I heard someone else say it. Use theirs and save ours.
Doesn't Hydrogen come from water? You make it where you need it, you don't transport hydrogen.
As to the OP. No, it will have no effect. However the China situation could be enormous to PM's. I think they are in a bubble - just look at how they are buying "stuff" in the coin market.
<< <i>Obama to reject Keystone Pipeline.....will this effect PM's in the long run? >>
I will have to wait to comment on this subject..I believe more opinions need to be taken into consideration.We might need a more conscientious approach and possibly a more direct analysis on this very important matter concerning our direct need which is of a great concern.............I'll get back to you later.......
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"The plan is to make fossil fuels as expensive as possible for Americans."
Well, I'm not a fan of the big O but there are some other things that bear consideration here. 1. That tar sand stuff is pretty nasty with lots of waste products and a lot of ineffeciency in getting a usable product from it. 2. Much better cleaner, higher carbon stuff lies in ANWR or off of either coast or even in the Gulf o' Mexico. 3. There has always been a need to push gas up to the north US from down south where it is. A gas pipeline would be very beneficial and the gas producers have always wanted more distribution venues that can handle heavier volumes. 4. We could get those same employment numbers putting in a national level North-South gas line and not have to even mess with that nasty tar sand, let the Chinese have it.
It is unfortunate that we don't have some apolitical approach to making our resources more available to ourselves. The fact that we import foreign oil and turn around and export the refined products to the same place we got them from is certainly a study in inefficiency and maybe stupidity but probably lauded as a political expediency. As long as our grossly misnamed "energy policy" keeps heading in this direction, you'll likely be glad to only have to pay $5 a gallon.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Does Canada even have a military. So if China invades them for their oil, who do they expect to defend them?
Also in relation to Warren Buffet from the above post. Both Andrew Jackson and Thomas Jefferson would be appalled and betrayed as should the American people. I financial meltdown will occur. Too bad we don't liken this probable occurence like we do with a nuclear threat. Crony Capitalism
The buzz around the blogosphere is that the oil will be moved by rail. Guess who owns the railroad that will get most of the business? Berkshire Hathaway and Warren Buffett bought Burlington Northern/Santa Fe railroad about two years ago.
Appreciate your comments jmski. For the purposes of discussion, some reference material.
Natural gas pipelines distribution map You can note there are a number of blank spots on our national map. If we are to convert to natgas as a primary energy source then there is considerable work to be done.
Agree, the denying of a permit for Keystone is totally bogus. Big news today that WB's big railroad purchase last year is a big winner...he will transport tar sands with his RR to US refineries. The play is somewhat suspicious a year ago when industrial manufacturing is weak, at best, and the price of petroleum based fuels has steadily climbed upward since the purchase (cost of transportation), almost as if he knew last year that this is how the Keystone would play out. Doing the math...It takes 2 tons of tar sands to make one single barrel of oil. in 2009, the US alone consumed 3.8 billion gallons (90 million bblsX42 gal/bbl), 20% of which was Canadian tar sands...Hauling those sands to refineries, since there isn't a pipeline, should be pretty good business...especially when you own a railroad company. A most excellent investment
Comments
I knew it would happen.
I knew it would happen.
Back to the topic I digressed from. I just don't see shutting the door on this pipeline as an economy killer, but that is my opinion. According to my wife I am wrong all the time though.
I knew it would happen.
Box of 20
and we still import more crude than anyone in the world.
what we refine is being sold overseas because they pay more for it than we do.
It would seem even in a bassakwards way that this pipeline would beneficial. I don't want to be paying $7 a gallon for gas.
When the 1/2 billion dollar Solyndra plant subsidized by the USofO failed this whole energy priority thing is really f'ing things up.
to answer the OP question, in itself not much, yet it does follow with what the current admin has been doing, ie ^^^^
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I knew it would happen.
<< <i>Wait until we are at war with IRAN. He may change his mind. >>
It'll be too late. It'll several years to build a project of this size.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Canada is just about on it's way to becoming a Chinese colony. They'll find out what it's like to trade with those lads. But probably too late.
I frankly do not understand the reasoning of letting the Chinese get a foot in the door with trading in the Americas whereby the Chinese Govt holds the purse strings.
The effect, if any, on PM's will be hard to distinguish from other economic factors.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Difficult times over there? Hmmmmm
<< <i>There have been reports that the Chinese Govt is on the verge of a collapse.
Difficult times over there? Hmmmmm >>
USA debt only thing make them collapse!
<< <i>While leaving our oil in the ground causes us to pay more for oil, I am a firm believer that the last military with an oil supply will rule the world. I have no problem paying a little more now if it guarantees we deplete the oil reserves of others first. It could very well be part of our long term strategy. >>
I agree with this completely and I am glad I heard someone else say it. Use theirs and save ours.
<< <i>
<< <i>There have been reports that the Chinese Govt is on the verge of a collapse.
Difficult times over there? Hmmmmm >>
USA debt only thing make them collapse!
From Gary Locke, U.S. Ambassador to China.
BTW, it has ZERO to do with USA Debt. The Chinese people are upset. And possibly about to do something about it.
<< <i>
<< <i>
<< <i>There have been reports that the Chinese Govt is on the verge of a collapse.
Difficult times over there? Hmmmmm >>
USA debt only thing make them collapse!
From Gary Locke, U.S. Ambassador to China.
BTW, it has ZERO to do with USA Debt. The Chinese people are upset. And possibly about to do something about it. >>
About Freeking time I pray you are correct!
1989
http://thecable.foreignpolicy.com/posts/2012/01/18/us_ambassador_political_situation_in_china_very_very_delicate
I need linky help. Some very good stuff in THE CABLE
Doesn't Hydrogen come from water? You make it where you need it, you don't transport hydrogen.
As to the OP. No, it will have no effect. However the China situation could be enormous to PM's. I think they are in a bubble - just look at how they are buying "stuff" in the coin market.
<< <i>Obama to reject Keystone Pipeline.....will this effect PM's in the long run?
>>
I will have to wait to comment on this subject..I believe more opinions need to be taken into consideration.We might need a more conscientious approach and possibly a more direct analysis on this very important matter concerning our direct need which is of a great concern.............I'll get back to you later.......
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I knew it would happen.
Well, I'm not a fan of the big O but there are some other things that bear consideration here.
1. That tar sand stuff is pretty nasty with lots of waste products and a lot of ineffeciency in getting a usable product from it.
2. Much better cleaner, higher carbon stuff lies in ANWR or off of either coast or even in the Gulf o' Mexico.
3. There has always been a need to push gas up to the north US from down south where it is. A gas pipeline would be very beneficial and the gas producers have always wanted more distribution venues that can handle heavier volumes.
4. We could get those same employment numbers putting in a national level North-South gas line and not have to even mess with that nasty tar sand, let the Chinese have it.
It is unfortunate that we don't have some apolitical approach to making our resources more available to ourselves. The fact that we import foreign oil and turn around and export the refined products to the same place we got them from is certainly a study in inefficiency and maybe stupidity but probably lauded as a political expediency. As long as our grossly misnamed "energy policy" keeps heading in this direction, you'll likely be glad to only have to pay $5 a gallon.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Also in relation to Warren Buffet from the above post. Both Andrew Jackson and Thomas Jefferson would be appalled and betrayed as should the American people. I financial meltdown will occur. Too bad we don't liken this probable occurence like we do with a nuclear threat.
Crony Capitalism
Box of 20
/edit to add: I see Derryb already reported this.
I knew it would happen.
<< <i>2. Much better cleaner, higher carbon stuff lies in ANWR or off of either coast or even in the Gulf o' Mexico.
This begs the question, as noted already - why not use up this stuff first? Much better than having China become a player in Canada.
>>
I think this has something to do with (a) a little oil spill and (b) the increasing depths that companies are having to go to tap into these.
Yes, water contains two hydrogens and one oxygen atom. To separate them, you must INPUT energy.
when they combine again to form water, the reaction is exothermic, and energy is released (see also: Hindenburg)
Liberty: Parent of Science & Industry
Natural gas pipelines distribution map
You can note there are a number of blank spots on our national map. If we are to convert to natgas as a primary energy source then there is considerable work to be done.
Tar sand basics
As mentioned, pretty nasty stuff.
I knew it would happen.
I knew it would happen.
Can't we still buy it cheaper than we can produce it? I say lets use theirs up first
I knew it would happen.
I knew it would happen.
I knew it would happen.