The economics of Keystone in an era of cheap oil
Back when the Keystone XL pipeline was proposed in 2008, oil hit an all-time high and traded at over $140 a barrel. But oil has crashed, trading below $50 on Monday.
Approval of the pipeline is at the top of the agenda for the new Republican-controlled Congress. The question is: What is the energy rationale for and against the project in a period of cheap oil?
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