OIL FOR ASIA?

As we Americans won't permit the Keystone XL pipeline to be built in the U.S., the oil sands oil probably will go to Canada's West Coast for shipments elsewhere, including Asia.

KINDER MORGAN OIL-PIPELINE EXPANSION GETS CANADA BACKING

Kinder Morgan Inc.’s proposed expansion of a crude oil pipeline connecting Alberta’s oil sands to the Canadian Pacific coast cleared a key hurdle after a government advisory panel recommended it, Chester Dawson reports. But the support for the Trans Mountain pipeline is subject to 157 conditions.

The proposed 5.4 billion Canadian dollar ($4.1 billion) project involves nearly tripling the capacity of an existing pipeline. The  energy industry has lobbied hard for the expansion and has argued it is necessary to allow more of Alberta's oil sands oil to reach  global markets.

“The board found the benefits of the project would outweigh the residual burdens” on the environment and nearby communities, said Robert Steedman, chief environmental officer for the National Energy Board.

Still, shareholders concerned about the environment are increasingly challenging major oil companies, the Economist reports.

http://www.wsj.com/articles/kinder-morgan-pipeline-expansion-project-gets-backing-in-canada-1463693878