Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The Hill’s E2-Wire reports Secretary of State Hillary Clinton said Thursday that the proposed pipeline to bring Canadian oil sands to Gulf Coast refineries, if approved, will operate under tougher safety standards than the law requires.
Clinton addressed TransCanada’s planned $7 billion, 1,700-mile Keystone XL pipeline — which is under State Department review — after a meeting with Canadian Foreign Minister John Baird in Washington, D.C.
The Hill’s E2-Wire quotes Clinton as saying: “We have worked with the applicant, with TransCanada, to develop a set of conditions above and beyond what is required by law to ensure that if the permit is issued, the project will be as safe as it could possibly be.”
2 Comments
Paul Schechter
And what about the safety of our climate, and the fact that tar sand oil emits 3 times as much CO2 per barrel as conventional oil?????
Sandhiller
Are you aware that the Ogallala Aquifer system provides drinking water to 82 percent of the people who live within the aquifer boundary? Its a pipeline- regardless of your standards it will leak!! If you are convinced that giving eminent domain to a foreign country (Canada) in the US is appropriate than reroute the pipeline or put it above the ground! The saddest part of all of this is that no matter what side you are on – the facts don’t seem to matter. I don’t believe there is a scientist on earth that can find a grass that grows at 150 degrees! So the government has no problem taking a chance and potentially destroying an eco system that sustains 8 million people. I really would reconsider aiming this pipeline in a different route! I mean you don’t run it through the bread basket of this country!! How could the Government make a cognizant decision that destroying a water system is the best and most economical way? Even if the oil running through that pipeline was intended for the US and our use that doesn’t even constitute running the pipeline through the Sandhills of Nebraska! The biggest investor in this pipeline is China! So why are we letting Canada and China have any say in this route? Before your very eyes lies the largest oil reserves within this nations borders- the Bakken formation. Why isn’t this country protecting our own land and resources and building refineries in ND? I appreciate that you might be conditionally setting standards for TransCanada but we both know that this is just a gesture. The pipelines they run now leak~If you think the oil spill in the Gulf just wasn’t dramatic enough -wait till this pipeline leaks. I can’t believe you would even consider allowing the permit even if according to your Study it is the most economically feasible. Such a disappointment – I can only hope I don’t live long enough to see it completed! Once again our government failing the people that have made this battered nation of ours so great~…