Dec. 2, 2015: "Oil glut so bad people are putting it back in the ground."
“The global economy is in serious trouble as emerging markets have basically taken a major turn down. We are flying at close to stall speed — Larry Summers, Financial Review, October 22, 2015
KXL Rejection: The Real Story
"The tribes that kept KXL out of their territories are understandably pleased by the momentary suspension of that pipeline project. This editorial does not diminish their ‘victory’, but rather tempers the euphoria around the KXL rejection with a dose of reality. To not do so only sets up the naive to be hoodwinked again.
Delaying KXL does not halt the annihilation of the Athabaskan peoples, whose territory is a carcinogenic wasteland. It merely means the Tar Sands toxic bitumen will make its way to the Gulf of Mexico by other routes, which incidentally are already operating, making KXL redundant for now–the real reason for the celebrated KXL ‘rejection’.
The suspension of KXL coincides with a glut of oil reaching the Gulf, necessitating development of greater storage and terminal capacity there. That, and plans to develop pipeline and oil train terminal infrastructure on the West Coast of Canada and the Northwest US, is why KXL rejection no longer matters to oil exporters, but made Warren Buffett, Bill Gates, and their Tar Sands pals a bundle.
The reason for the glut goes back to 2012, when Obama opened up millions of acres for gas and oil in 23 states, ushering in the fracking boom that brought us chemical injection aquifer contamination and ‘bomb trains’ owned by Obama’s friend Warren Buffett since 2009, when he purchased Burlington Northern Santa Fe Railroad (BNSF) for $34 billion–the same year Tides Foundation funded 350.
In 2010, 350 launched the campaign to reject KXL; by 2014, crude-via-rail in the US soared to 500 thousand car loads per year, up from 5 thousand in 2008, with trains exploding across Canada and the US.
As noted in Railroading Racism, BNSF is embroiled in conflict with the Affiliated Tribes of Northwest Indians, that opposes Buffett’s bomb trains and associated oil train terminals in Washington state. BNSF has responded by helping fund Tea Party-led political action committees deeply involved in promoting anti-Indian white supremacy.
To refresh readers’ memories, the KXL ‘grassroots’ hoax was funded in large part by Buffett, through his pet NGO, 350. Funds laundered through Buffett’s foundation NOVO and the Tides Foundation — a money laundry used by Tar Sands investors and other elites to control NGOs — helped finance the KXL NGO charade, thus eclipsing any discussion about shutting down the Tar Sands, and making possible the explosive growth of bomb trains and other pipelines.
As noted at Wrong Kind of Green, There Was Nothing Key About Keystone XL — Except Diverting Our Attention For More Dirty Profit. As noted at The Real News Network, Regardless of Keystone XL, Tar Sands Oil Will Still Flow to the Gulf.
The fact it took two years for TRNN to catch up with WKOG, where the 350/Warren Buffett KXL charade was first exposed, suggests it is as much a cynical opportunist as Hillary. In fact, Skirting the Real News is something I wrote about a year ago, when TRNN was unquestioningly promoting Klein, 350, and their many hoaxes.
Interestingly, the TRNN cover-up of the Klein/Buffett charade remains unexposed by this so-called Real News Network. As I observed in April, Distorting Reality is what liberal gatekeepers like TRNN do. That’s why two-thirds of its ongoing operating revenue comes from the rich, i.e. Ford Foundation. Ford, Rockefeller, and Buffett own the entire ‘grassroots’ KXL NGO milieu."