Consumer Watchdog Report Shows Keystone XL Will Raise American Gas Prices

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SANTA MONICA, Calif., Jan. 9, 2015 /PRNewswire-USNewswire/ -- Following a Nebraska court's statute that a Keystone XL tube can be built, a nonprofit Consumer Watchdog pronounced a emanate should be indecisive for a Obama administration, a decision-maker, since a building of a tube will lift American gasoline prices – that are during ancestral lows.

"The Keystone XL tube prolongation will take inexpensive wanton oil from a Midwest and pierce it by a Gulf to Asia," pronounced Jamie Court, President of Consumer Watchdog. "Our news on a tube prolongation shows that idea of a tube backers is inexpensive oil for Asia, that means some-more costly gasoline for Americans. Approval of a tube would dissapoint historically low gasoline prices in a Midwest."

The report, "Keystone XL: Oil Industry Cash Machine," found a Keystone XL tube will travel prices during a siphon 20 to 40 cents per gallon in a Midwest, with no long-term mercantile advantage to a U.S. economy. Read it here:

The news finds that:

  • Drivers, generally in a Midwest, would compensate 20 cents to 40 cents some-more during a siphon if a doubtful tube were built, as a stream bonus of adult to $30 a tub for Canadian oil disappears.
  • The loyal idea of multinational oil companies and Canadian politicians subsidy a tube is to strech trade outlets outward a U.S. for connect sands oil and polished fuels, that would expostulate adult a oil's price.
  • With U.S. oil prolongation rising fast, any "energy security" advantage for a U.S. would disappear as American oil outlay exceeds that of Saudi Arabia in about 2020, according to a International Energy Agency.

The report, constructed by Research Director Emeritus Judy Dugan and eccentric appetite researcher Tim Hamilton, employed attention data, open annals and association documents. 

"Keystone XL is not an mercantile advantage to Americans who will see aloft gas prices and bear all a risks of a pipeline," pronounced news author Judy Dugan. "The tube is being built by America, though not for Americans."

The news also found that Canadian wanton oil now being sent to a Midwest from Canada would be simply diverted to Keystone XL to prove abroad demand.

Much of a Canadian oil would go directly to Gulf Coast refineries owned by a same multinational companies investing in connect sands, pronounced a report. These companies embody Exxon Mobil, Chevron, Koch Industries, Marathon Oil and Shell Oil, pronounced a report. Gulf refineries would labour a connect sands wanton oil into diesel oil, that is in high abroad demand, and gasoline for export.

Price hikes during a siphon are expected to strike as distant as California. Canada is a second-largest exporter of wanton to a West Coast region, only behind Ecuador. California refiners are holding movement to import and use some-more Canadian oil.

Political leaders in a Canadian range of British Columbia have strictly against skeleton for a vital new connect sands oil tube from Alberta by their range to a Pacific Coast. Two other identical proposals might accommodate a same fate, and are positively years in a future. This Canadian antithesis increases a proclivity of connect sands investors and developers and to get Keystone XL built as certain entrance to abroad markets.

"Any rebate of deliveries to Midwest refineries would tighten gasoline supply, serve pushing adult siphon prices, and Keystone XL's backers wish to pierce inexpensive oil out of a Midwest," pronounced news author Judy Dugan. "Many vital Midwest refineries have also done costly changes to maximize their use of a connect sands oil and could not work as well regulating opposite grades of oil from other sources."

While a tube developers have insisted that a tube would emanate tens of thousands of jobs, they have offering no explanation of estimable jobs combined over construction and upkeep of a tube itself.

The end of a news is: "U.S. consumers should be heedful of a Keystone XL pipeline--not only for estimable environmental and reserve reasons, though since it threatens their wallets. Given a passing advantages of construction jobs, a unprovability of long-term advantages and a disastrous outcome of aloft gasoline costs on consumers, Keystone XL is no mercantile bonus to a United States. U.S. consumers and a altogether economy would bear a estimable risks of a tube but quantifiable permanent benefit."

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SOURCE Consumer Watchdog

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