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Credit where credit is (not) due

March 29, 2012

It was laughable to hear our comedian in chief stand in Oklahoma this morning and attempt to take credit for the short leg of the Keystone XL Pipeline being built. Trans

Canada Corp. had decided to start work on this project a month ago, February 27, to be exact. This leg will bring crude to refineries in Port Arthur and Houston. Upon completion, this should help to narrow the gap between U.S. oil prices and international benchmarks, like Brent crude. Eventually, it will help ease U.S. gasoline prices. More U.S. and Canadian crude coming to Texas refineries would also have a salutary result on gas prices. Now, let’s get started on building the longer leg of the XL pipeline at once!

Clement H. Fullerton
Trophy Club, TX and Hankins, NY