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With low oil, gasoline prices, is Keystone still necessary?

2 years 3 months 1 week ago January 11, 2015 Jan 11, 2015 Sunday, January 11 2015 January 11, 2015 9:42 AM in News
Source: Associated Press
By: By DINA CAPPIELLO and JONATHAN FAHEY

WASHINGTON - A 50-percent plunge in the price of crude oil, and cheaper gasoline at the pump, raise questions about whether the Keystone pipeline is still needed - or even makes financial sense.

Opponents will use lower prices to argue that it now could pose a greater threat to the environment than first thought.

Low oil prices could make it more important to the development of oil sands projects in Canada than anticipated. So it could be more likely to increase emissions of carbon dioxide and other gases linked to global warming.

Proponents say that during periods of low oil prices, the pipeline is more important. They say oil companies would otherwise have less incentive to deliver what's described as important oil from a reliable source to U.S. refiners on the Gulf.

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