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Big Oil’s Pipeline Scheme to Increase Midwest Gas Prices
By National Wildlife Federation
Monday, January 24, 2011
Read this blog post on the originating site
It’s an old story: oil companies increase gas prices and their profits soar. But rarely do we get an inside view of how they manipulate markets to drive up prices, and even rarer still an opportunity to stop it from happening.
This time, Big Oil has been caught with their hand in the cookie jar as they scheme to hike America’s oil bill by $4 billion every year.
This time, we have the industry documents that prove it.
As featured in the Washington Post today, there is growing opposition to the Keystone pipeline that would carry oil from the tar sands of Alberta, Canada to the coastal refineries of Texas.
National Wildlife Federation has recently uncovered industry documents that prove that the massive oil pipeline from Canada to the Texas coast is little more than a shell game designed to reduce Canadian oil supplies in America’s Midwest and increase prices by as much as 15 cents a gallon.
TransCanada, the company building the pipeline, laid out the scheme in an analysis (PDF) they presented to the Canadian government designed to highlight the benefits of the pipeline to Canadian oil producers. Ever since TransCanada shifted their attention to the U.S. permitting process, TransCanada and their Washington lobbyists have buried the analysis and been singing a different tune to the Obama administration and Congress.
Keep reading this blog entry on the National Wildlife Federation website…
Tagged with: keystone xl, transcanada, pipeline, gas prices
