The on again, off again saga that is the Keystone pipeline expansion plan has turned the logical into the divisive, and also made the project a lightening rod for critics and supporters alike. While the tide appears to be turning in favor of building it, with the President, the state of Nebraska and business leaders all easing their opposition, the long-fought deal might finally get done. Even the U.S. State Department has gotten in on the $7 billion project, by issuing a revised environmental impact statement that could provide cover should the White House choose to okay the plan later this year.
But even if it does get built and Canada’s oil sands gain renewed access to the U.S., Patrick DeHaan, senior petroleum analyst at GasBuddy.com says there’s no guarantee that it will ease recent pricing pressure.
“A lot of Americans, perhaps wrongly, believe that the addition of the (Keystone) pipeline will bring down gas prices,” DeHaan says in the attached video. “The truth may run counter to that.”
Related: Exchange Traded Concepts Trust (NYSEARCA:SNDS), Claymore/SWM Canadian Energy Income ETF (NYSEARCA:ENY)