VT: Few Americans know it but Donald Trump killed the Keystone project when he began flooding US markets with cheap Russian oil, a deal he cut with the Kosher Nostra to bail out some of his family’s $400m in negative equity. A study today released by the Boston Globe says Trump is broke, worse than broke, even more bankrupt than he was when the Russian mob came to him in 1991.
Now, living off backhanders from the Chinese, Trump will undoubtedly cite the end of Keystone as a threat to democracy, almost as though a gang of armed hillbillys attacked the Capitol.
As for the oil the US won’t get? The US is currently the biggest oil producer in the world. In addition, a glut of light sweet crude oil that simply flows out of the ground in Syria, Iran, Iraq, Ghana, Nigeria and Indonesia has made stabilizing the oil markets a difficult job since the crash of 2020.
But then, what kind of oil comes from Canada’s fracking of oil shale? What we get from Canada is oil priced the same as Saudi crude but it is loaded with sulfur and expensive to make into anything we want, things like gasoline or diesel fuel. Russia is supplying much of America’s crude for diesel now with their REBCO (Russian Export Blend Crude Oil) while other quality light-sweet crudes out there from Libya or Iran, if politics didn’t stand in the way.
The Keystone Pipeline is dead! It's a huge victory for the combined tribes who opposed this environmentally unfriendly pipeline.https://t.co/ACq3oHCECB— Grant Stern is fully vaccinated (@grantstern) June 9, 2021