Future economics: This is how Big Oil will die

❝ It’s 2025, and 800,000 tons of used high strength steel is coming up for auction.

❝ The steel made up the Keystone XL pipeline, finally completed in 2019, two years after the project launched with great fanfare after approval by the Trump administration. The pipeline was built at a cost of about $7 billion, bringing oil from the Canadian tar sands to the US, with a pit stop in the town of Baker, Montana, to pick up US crude from the Bakken formation. At its peak, it carried over 500,000 barrels a day for processing at refineries in Texas and Louisiana.

But in 2025, no one wants the oil.

Thanks, @Smartalix

7 thoughts on “Future economics: This is how Big Oil will die

  1. Crude awakening says:

    The Keystone pipeline running from Canada across the Great Plains leaked Thursday morning, spilling about 5,000 barrels of oil — or 210,000 gallons — southeast of the small town of Amherst in northeast South Dakota. The spill comes just days before a crucial decision on Monday by the Public Service Commission in Nebraska over whether to grant a permit for a new, long-delayed sister pipeline called Keystone XL, which has been mired in controversy for several years. Both are owned by Calgary-based TransCanada. https://www.washingtonpost.com/news/energy-environment/wp/2017/11/16/keystone-pipeline-spills-210000-gallons-of-oil-on-eve-of-key-permitting-decision/?utm_term=.850abed728e2

  2. Will B. says:

    Firm grossly underestimated Keystone’s spill risk : TransCanada’s Keystone pipeline has already leaked more than 5,000 barrels of oil in South Dakota. The company originally predicted spills larger than 1,000 barrels of oil would occur no more than once every 100 years. https://www.csmonitor.com/Environment/2017/1127/Keystone-pipeline-leaks-more-than-predicted-in-risk-assessments TransCanada’s spill analysis for Keystone XL, which would cross Montana, South Dakota, and Nebraska, estimates 2.2 leaks per decade with half of those at volumes of 3 barrels or less. It estimated that spills exceeding 1,000 barrels would occur at a rate of once per century.

  3. Mikey says:

    “Inside the Trump Admin’s Fight to Keep the Keystone XL Approval Process Secret” (DeSmog February 22, 2018) https://www.desmogblog.com/2018/02/22/judge-trump-documents-keystone-xl-decision At a February 21 hearing [link], a U.S. District Court judge ruled that the Trump administration must either fork over documents showing how the U.S. Department of State reversed an earlier decision and ultimately came to approve the Keystone XL pipeline, or else provide a substantial legal reason for continuing to withhold them. The federal government has an order to deliver the goods, one way or the other, by March 21.
    DeSmog has reviewed the court evidence from the environmental groups bringing the case, records which help illuminate their argument that the government is, in fact, withholding such documents. The judge will decide if those documents, legally, should be made public.”

  4. Update says:

    “Judge blocks Keystone XL pipeline, says government cannot ignore ‘inconvenient’ facts : ‘An agency cannot simply disregard contrary or inconvenient factual determinations that it made in the past’” https://www.theverge.com/2018/11/9/18078490/keystone-xl-judge-blocks-construction-2018-montana-judge “Construction of the $8 billion project, which was due to begin as early as next year, is now halted until the State Department completes a supplemental environmental review.”

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