Is there a rival Keystone pipeline?
Turns out that the Keystone XL pipeline may have competition. Two other companies are joining forces and want to build a rival pipeline from Cushing, Oklahoma to the Gulf Coast of Texas. Enterprise Products Partners LP and Energy Transfer Partners LP said Tuesday they are forming a joint venture to build a 400,000-barrel-a-day oil pipeline from Cushing—a major U.S
Jul 31, 202042K Shares4.2M Views
Turns out that the Keystone XL pipeline may have competition. Two other companies are joining forcesand want to build a rival pipeline from Cushing, Oklahoma to the Gulf Coast of Texas.
“„Enterprise Products Partners LP and Energy Transfer Partners LP said Tuesday they are forming a joint venture to build a 400,000-barrel-a-day oil pipeline from Cushing—a major U.S. trading and storage hub for crude oil—to Houston, near the heart of the U.S. refining industry.
“„Government and industry officials have been clamoring for an outlet to relieve the glut of oil that has accumulated in Cushing due to increasing imports from Alberta’s oil sands. The large amount of oil stranded in Cushing has led to a deep discount in crude-oil prices in the region and on the New York Mercantile Exchange.
Which suggests, as TransCanada itself has said, that getting more oil to the Gulf Coast will actually increase oil prices, not decrease them.
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