Cancel Keystone

“The Keystone pipeline will probably be canceled, report John Broder and Dan Frosch: " The Obama administration confirmed this week that a provision in the payroll tax bill requiring a quick decision on the proposed Keystone XL oil pipeline from western Canada to the Gulf Coast will probably lead to cancellation of the project. But does that mean the $7 billion pipeline project is dead forever? Will its cancellation curb the inexorable global demand for the exploitation of Canada’s huge oil sands deposits? Will it affect the concentration of atmospheric carbon dioxide in beneficial ways and slow the pace of climate change? The answer to all three questions, barring unexpected changes in the politics and economics of oil, appears to be no...Experts in oil economics say that the oil is coming out of the ground in any event because of steadily growing global demand and the heavy investment in infrastructure already made in Alberta."”