Reply to $7/gallon gas is coming

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][twitter]https://twitter.com/EddieZipperer/status/1577658417807859712[/twitter][/quote]

The Keystone Pipeline that would carry tar sands crude from Canada for EXPORT to markets outside the US? Brilliant hot take! [/quote]

DP. Oil is a effectively a worldwide commodity. Supplying more the world would reduce demand pressures and lower prices for everyone. [/quote]

It’s just a pipeline. A pipeline does not produce new oil. The supply of oil is exactly the same with or without it. [/quote]

Wrong. Production is always constrained by your capacity to transport. If you can produce 10 barrels of oil a day but can only transport 5 barrels per day it would be insane to produce more than 5 barrels.

Additionally, even if you have transport capacity, you’ll only produce barrels that are economic to produce. Shipping by rail is materially more expensive than shipping by pipe. Consequently, the marginal barrel under a pipeline regime is not being produced under a rail regime. [/quote]

Keystone is irrelevant to the discussion of current oil prices and current oil supply. [/quote]

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