02 Sep '11, 9pm

Separating fact from fiction on the Keystone XL:

Separating fact from fiction on the Keystone XL:

The second argument is newer and more puzzling. Advocates have started noting that Gulf refiners are likely to export diesel made from Canadian crude. (Hence Peter Lehner's observation that "our nation is already a net exporter of finished petroleum products.") That sounds correct to me, but I don't see why it matters. U.S. demand for refined products is tilted toward gasoline; European demand is biased toward diesel. As a result , the United States ships diesel to Europe, and buys gasoline from it. Canadian oil would increase the amount of U.S. gasoline that is produced in the United States, which is to say, it would decrease imports. The fact that some additional diesel would be exported to Europe doesn't change that. In addition, if one thinks that sourcing oil in North America gives the United States an economic cushion against oil price volatility, that cushion remain...

Full article: http://www.grist.org/oil/2011-09-02-separating-fact-ficti...

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