House panel advances Keystone pipeline plan - News and Current Events | futures io social day trading
futures io futures trading


House panel advances Keystone pipeline plan
Updated: Views / Replies:264 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

House panel advances Keystone pipeline plan

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

House panel advances Keystone pipeline plan

(Reuters) - A plan to fast-track the stalled Keystone XL oil pipeline was passed by a key committee in the U.S. House of Representatives, as Republicans made yet another attempt to spur approval of the project that has become a major issue in the 2012 elections.

The bill would wrest decision-making on the pipeline from the Obama administration and hand it to the Federal Energy Regulatory Commission, which would be compelled to issue approval permits quickly on the Canada-to-Texas project.
But the plan would need to clear several more congressional hurdles, including getting through Democratic opposition in the Senate, before it could land on President Barack Obama's desk for approval.

In a decision last month that pleased environmental groups, Obama blocked TransCanada's $7 billion project, citing the need for further review of its route as the line would have traversed sensitive lands and an aquifer in Nebraska.

Republicans have made the pipeline a symbol of what they believe are unnecessary regulations that are stifling job creation and energy production in the United States.

On Tuesday, the House Energy and Commerce Committee voted 33-20 to send its Keystone bill to the full House, where it will likely become part of a highway and infrastructure funding bill that House Speaker John Boehner wants to see passed this month.

Republicans also have not ruled out trying to attach a Keystone provision to must-pass payroll tax-cut legislation.
"We're going to use all options, so we'll see," said Fred Upton, the Republican chair of the energy committee, who is also part of a joint Senate-House conference panel working on the payroll tax-cut compromise.

GLUT IN MIDWEST
The latest Keystone debate comes as a glut of crude oil in the U.S. Midwest widens the discount between what refiners pay for oil around the key delivery point of Cushing, Oklahoma, compared to the price paid by refiners on U.S. coasts and the rest of the world.

Meanwhile, Canadian production is surging on expanding output from the oilsands. With exports to the United States up 34 percent year-over-year, existing pipeline capacity is full.

The lack of pipeline space has pushed the discount between Canadian crude and benchmark prices to multi-year lows, eating into the profits of the Canadian oil industry, including its two largest producers, Suncor Energy Inc and Canadian Natural Resources Ltd.

Canadian oil producers are desperately looking for alternative markets in Asia and elsewhere, though it will be years before any new export lines can be built.

Canada's Prime Minister Stephen Harper is leading a large, high-level trade mission to Beijing this week, and told Reuters that Canada will focus on exporting oil to China even if the U.S. decision on Keystone is reversed.

KEYSTONE ROUTE IN SENATE UNCLEAR
Republicans in the Democratic-controlled Senate also are trying to resurrect a quick start for the pipeline, but have not yet determined a strategy for advancing legislation.

On Tuesday, Republican Senator Orrin Hatch withdrew a proposal to link Keystone to the Senate's highway funding bill.
"It is absolutely tragic that the prime minister of Canada is now negotiating with the Chinese to take their oil because we're too stupid to allow a pipeline to go through," Hatch said at a Senate Finance Committee hearing.
Max Baucus, the Democratic chairman of the powerful panel, convinced Hatch to withdraw his measure.

"The inclusion of Keystone would take down the bill," Baucus said, although he noted he strongly supports the pipeline.

LAWSUITS AHEAD?
On Tuesday, House Democrats tried but failed to amend the bill to block exports of oil and refined fuels from the pipeline, and to bar TransCanada from having the ability to expropriate land for the pipeline from private owners.

Also defeated was a proposal to postpone action on the pipeline pending results of a study, expected sometime in 2013, on whether pipelines carrying petroleum from Canada's oilsands are at greater risk for spills than those carrying other types of crude.

John Dingell, a Democrat from Michigan who supports the pipeline, argued the authority to approve the line should remain with the president rather than being fast-tracked by Congress.

Dingell said he worries environmental groups would tie up the pipeline with lawsuits if the Republican plan goes ahead.
"It's going to infuriate the environmentalists who are going to be on this like a duck on a June bug," Dingell said.

The Natural Resources Defense Council panned the bill, saying it attempted to "jam" the project ahead in a rush.
"We hope the Senate will use common sense and avoid trying to undermine proper review using politically motivated legislative maneuvers," said Frances Beinecke, president of the group, in a statement.

But Lee Terry, a Republican from Nebraska, said the Obama administration has dragged out the process for too long, making it essential for Congress to take charge.
"It is the president that made this a political football," Terry said.

House panel advances Keystone pipeline plan | Reuters

Reply With Quote

Reply



futures io > > > > House panel advances Keystone pipeline plan

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Why Keystone Pipeline Project May Get Built After All Quick Summary News and Current Events 0 January 19th, 2012 08:50 PM
Keystone Pipeline Project Set To Be Rejected by Obama Quick Summary News and Current Events 0 January 18th, 2012 02:30 PM
State Department To Reject The Keystone Pipeline kbit News and Current Events 1 January 18th, 2012 01:03 PM
Keystone XL Pipeline: Economics, Idealism and Politics Quick Summary News and Current Events 0 December 21st, 2011 02:20 PM
White House Tax Plan Would Ask More of US Millionaires Quick Summary News and Current Events 0 September 18th, 2011 09:00 AM


All times are GMT -4. The time now is 10:19 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.09 seconds with 19 queries on phoenix via your IP 54.90.207.75