The rationale for Keystone was a way to bring together booming US oil production, and to a lesser extent, production from the oil sands in Northern Alberta, to Gulf Coast refineries that were facing declining imports from Mexico and Venezuela. The project was first proposed in 2008 and was supposed to begin carrying 830,000 barrels a day in 2012.
But the market didn't wait for the pipeline to be built, and landlocked Canadian crude has found its way to Texas and Louisiana refineries by rail instead. Canadian oil exports by rail tripled to a record 182,000 barrels a day in the third quarter, according to Canada's National Energy Board. The United States has also been importing Canadian oil like gangbusters, showing that the trade will happen with or without the pipeline extension (Keystone XL is an addition to the existing pipeline). Data from the US Energy Department showed US imports of Canadian crude reached a record 3.1 million barrels a day in September.
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So with some of the project's goals already being met, in terms of increased production flowing from Canada to the US, the question has become, why is a pipeline needed anymore? And now, with the oil price down more than 50 percent since June, Canadian production is certain to fall, lessening demand for oil transportation and thus casting doubt on the economics of the project according to observers.
How the Shale Oil Revolution Has Affected US Oil and Gasoline Prices →
By 2012, the International Energy Agency projected that the US would become the world’s leading crude oil producer, overtaking Saudi Arabia by the mid-2020s and evolving into a net oil exporter by 2030 (International Energy Agency 2012). Pundits envisioned the US becoming independent of oil imports, net oil exports financing the US non-oil trade deficit, and consumers enjoying an era of cheap gasoline with a resulting rebirth of US manufacturing. My recent research, however, suggests that these visions remain far removed from reality (Kilian 2014).
The $140,000-a-Year Welding Job →
The risks of a mismatch between costly university degrees and job opportunities have become clearer in recent years. Anthony Carnevale, director of the Center on Education and the Workforce at Georgetown University, said nearly a third of people aged 22 through 26 with a Bachelor of Arts degree either don’t have a job or are working at one that doesn’t require a university degree. The numbers are similar for young people with vocational degrees, but those lower-cost degrees don’t typically lead to heavy debts...
But the picture is much more complicated, and volatile:
Demand for welders has been strong in Texas for the past few years, largely because of booming energy-related industries. Some of that demand is expected to decline in the near-term as lower oil prices reduce exploration. Meanwhile, the number of qualified welders should rise. Schools in the Texas State Technical College network had 732 students enrolled in welding programs in the fall 2014 semester, up about 70% from three years earlier. For now, the college says most of its welding students secure jobs before they graduate.
The U.S. Bureau of Labor Statistics estimates there will be 378,200 U.S. jobs for welders in 2022, up just 6% from the 2012 level. That falls below the projected 11% growth for all types of jobs. Many welding jobs in the auto industry have been eliminated over the years by robots. But welders with advanced skills and experience can do very well, as Mr. Friend has found.
Alcohol poisoning kills 6 people a day →
By the end of today, an average of six people will have died from alcohol poisoning, and it's a "surprising group" that's dying more than any other, according to new research from the Centers for Disease Control and Prevention.
That adds up to an average of 2,221 people in the United States -- a conservative estimate, according to the CDC — dying annually, making it one of the leading preventable causes of death. The numbers come from death certificate data collected from 2010 to 2012.
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In what the CDC said was a surprise, it found that white men between the ages of 35 and 64 are dying most often from alcohol poisoning. That demographic accounts for 76% of the deaths.
Cop Drama →
The NYPD and so many other police departments are gripped by a fear of criticism and what could happen if it has to bend to change. But there’s no reason for fear; reform improved the NYPD in the 1990s, it turned around the LAPD in the 2000s, and it could strengthen New York cops for the next decade. Greater accountability and community contact doesn’t harm policing; it makes it better.
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If you’re skeptical, consider this: At the same time that Los Angeles burned amid the Rodney King riots, San Diego—just a few hours away—was calm. It’s not that there weren’t racial tensions or episodes of police brutality, but that for several years—in the wake of San Diego’s own King-esque event and the killing of an officer—police had worked with city and community leaders to build bridges and improve policing. When turmoil came, notes Balko, “those goodwill gestures and the relationships they built paid off,” and police officials “could build a strategy around empathy, not antagonism.”
The NYPD can continue its strike, and its allies can continue their attacks on reformers. But they’re only hurting themselves and the city they serve.
First new antibiotic in 30 years discovered in major breakthrough →
The first new antibiotic to be discovered in nearly 30 years has been hailed as a ‘paradigm shift’ in the fight against the growing resistance to drugs.
Teixobactin has been found to treat many common bacterial infections such as tuberculosis, septicaemia and C. diff, and could be available within five years.
But more importantly it could pave the way for a new generation of antibiotics because of the way it was discovered...
Mainline Street →
What does it take for heroin to grab hold in the small, remote towns of America? Consider the case of Laramie, Wyoming. Five years ago, it had no heroin problem whatsoever. Now there's a bustling trade. How does this happen? How does heroin become a business?
A solar solution for 1.2 billion people without electric light →
An extra few hours of light a day, to read or get work done, can make a huge difference for a ton of people in the world. And the dream is being able to switch from expensive, toxic chemicals, to something like solar.
In West Africa, where three-quarters of the population lives without electricity, households spend as much as 20 percent of their budget on kerosene, a combustible fuel burned for lighting. Not only is kerosene expensive (the UN estimates the global population spends $23 billion each year on the stuff), it also poses serious risks: fires, burns, and pulmonary disease. The World Health Organization says that 4.3 million people die each year as a result of household air pollution created through the burning of solid fuels.