tag:blogger.com,1999:blog-4912713243046142041.post8435053094696168133..comments2024-03-27T18:20:38.176-05:00Comments on TYWKIWDBI ("Tai-Wiki-Widbee"): Regarding the XL pipelineMinnesotastanhttp://www.blogger.com/profile/01382888179579245181noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4912713243046142041.post-69781242835755431562013-01-24T19:15:22.074-06:002013-01-24T19:15:22.074-06:00The way I understand it is that the pipeline was t...The way I understand it is that the pipeline was to be a source of thousands of jobs -- that's how the idea was initially touted to US citizens. However, as you have stated, that's just an exaggeration. I've been fighting this pipeline ever since I heard of it, simply because there will be leaks and spills of oil sands that will contaminate wildlife environment and probably aquifers. And I am certain that most Americans do not understand that this oil is not for US use and will not address gasoline prices and/or supply in the US. I have signed petitions and done Facebook postings and written letters to Congress and to the President and to the Secretary of the Interior Salazar, but the oil companies just keep pushing. Let the Canadians run the pipeline through Canada to the Pacific and take the risk along with the profits.Classof65https://www.blogger.com/profile/15620524862669295761noreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-70150672415305096082013-01-24T01:34:44.285-06:002013-01-24T01:34:44.285-06:00Correction.. Valero 10 K states their Port Arthur...Correction.. Valero 10 K states their Port Arthur refinery has throughput capacity of 310,000 bpd of *sour* crude. I mistyped "sweet" in c) aboveWales Larrisonhttps://www.blogger.com/profile/06349823446678287114noreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-82005606339965170572013-01-24T01:32:13.312-06:002013-01-24T01:32:13.312-06:00Hmm.. I need to go do some reading on this. From...Hmm.. I need to go do some reading on this. From an initial read, some of the facts in this article seem to be in dispute<br /><br />a) How much will the Keystone XL pipeline carry? One source (not in those referenced above) indicates greater than 1 Million barrels per day (bpd). <br /><br />b) How much has Valero committed to buy? the article claims Valero has committed to "20% of the pipeline capacity" or "100,000 bpd" But 100,000 bpd is 10% of the pipeline, if the the capability is > 1 Million bpd <br /><br />c) How much can the Valero Port Arthur facility process? The 2011 Valero 10-K (available at the Valero web site) says their Port Arthur refinery is capable of processing 310,000 bpd of sweet crude to product. But the referenced articles claim they will achieve 150,000 bpd capability by 2012... <br /><br />d) How much advantage can Valero take of the free trade zone? Well, its actually a "Foreign Trade Zone", if you look at the specific mention. If memory serves, under NAFTA there are no tarrifs on Canadian imports. So Canadian oil imports are not subject to taxes. If oil is sold overseas, the refiners have to pay the same income taxes regardless if the oil is consumed in the US or exported. Reference on that is Dennis Puccinelli, "Foreign trade Zones: U.S. Customs Procedures and Requirements", http://trade.gov/exportamerica/TechnicalAdvice/ta_foreign_trade_zones_0203.pdf<br /><br />There's also an article at http://www.governor.state.tx.us/files/ecodev/TexasFTZs.pdf on Texas Foreign Trade Zones. On page one it states "Within FTZs, company goods can be unloaded, manufactured, reassembled, tested, sampled, processed, repackaged, and re-exported without the intervention of U.S. customs authorities. Only when goods are moved outside a Zone do they become subject to U.S. customs duties. Zone status may also make sites eligible for state and local tax benefits." Again, this indicates that exports out of the FTZ are taxable, under federal law -- although Texas taxes may be exempted. <br /><br />Certainly the article referenced was not a disspassionate discussion -- and I haven't checked the facts there, but a quick look at several points I could quickly reference shows some descrepancy to other data. <br /><br />As I said, I need to go read more on this. Wales Larrisonhttps://www.blogger.com/profile/06349823446678287114noreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-11837443190796037892013-01-23T23:54:18.882-06:002013-01-23T23:54:18.882-06:00I fully understand what is in it for them, but hav...I fully understand what is in it for them, but have yet to learn what is in it for us. Why in the world would this even be a consideration? Anonymousnoreply@blogger.com