TransCanada, ConocoPhillips Plan $7 Billion Expansion

Not logged in [Log In] [Sign Up] [Points Leaders] [My Profile]

Monday, September 08, 2008 3:47:20 AM

Featured Sponsor

Save 5% on gas All gas purchases get a 5% rebate with the Discover Card* Click here for more info


Add gas prices to your web site. Click here to find out how!

GasBuddy News Article

TransCanada, ConocoPhillips Plan $7 Billion Expansion Thursday, July 17, 2008
Bloomberg -- July 16 (Bloomberg) -- TransCanada Corp., owner of Canada's largest pipeline system, and ConocoPhillips plan a $7 billion pipeline expansion to provide additional capacity to ship crude from western Canada to U.S. Gulf Coast refiners. The 500,000-barrel-a-day expansion of the Keystone pipeline is expected to start by 2012, Calgary-based TransCanada said today in a statement. Customers have signed contracts for 300,000 barrels a day. Houston-based ConocoPhillips, the third-biggest U.S. oil company, and TransCanada are spending $5.2 billion on Keystone to transport 590,000 barrels a day by 2009 to U.S. Midwest refineries. The $7 billion addition would allow Alberta oil- sands output to be processed by Gulf Coast oil refiners who represent almost half of the U.S.'s refining capacity.
Visit Bloomberg for full article

Message Forum - Read Message

Category: Daily News Article Discussions > Topics		Add to favorite topics Post New Topic
Rate this topic: Low 1 - 2 - 3 - 4 - 5 High Avg rating: 1.0 (1 votes)

Author	Topic: TransCanada, ConocoPhillips Plan $7 Billion Expansion	Post a Reply Back to Topics

JT Moderator	Message Posted: 7/17/2008 10:40:25 AM	Ignore JT Report Abuse
	Thursday, July 17, 2008 Bloomberg -- July 16 (Bloomberg) -- TransCanada Corp., owner of Canada's largest pipeline system, and ConocoPhillips plan a $7 billion pipeline expansion to provide additional capacity to ship crude from western Canada to U.S. Gulf Coast refiners. The 500,000-barrel-a-day expansion of the Keystone pipeline is expected to start by 2012, Calgary-based TransCanada said today in a statement. Customers have signed contracts for 300,000 barrels a day. Houston-based ConocoPhillips, the third-biggest U.S. oil company, and TransCanada are spending $5.2 billion on Keystone to transport 590,000 barrels a day by 2009 to U.S. Midwest refineries. The $7 billion addition would allow Alberta oil- sands output to be processed by Gulf Coast oil refiners who represent almost half of the U.S.'s refining capacity. Visit Bloomberg for full article

REPLIES (newest first)

First

Next Last

SHEP20715 All-Star Author Maryland Posts:658 Points:113,805 Joined:Nov 2007	Message Posted: 7/20/2008 1:28:27 AM	Ignore SHEP20715 Report Abuse
	bring on the pipes
YourSWFLNotary Sophomore Author Florida Posts:164 Points:47,785 Joined:Jun 2008	Message Posted: 7/19/2008 10:43:12 AM	Ignore YourSWFLNotary Report Abuse
	With their record profits!
Masercal Champion Author Michigan Posts:1,131 Points:269,635 Joined:Oct 2007	Message Posted: 7/19/2008 9:43:55 AM	Ignore Masercal Report Abuse
	Buying our oil from Canada rather than the Middle East is better in the short-term while we make the move to renewable energy and make oil a thing of the past.
techque Veteran Author St. Louis Posts:315 Points:889,905 Joined:Apr 2005	Message Posted: 7/19/2008 9:17:57 AM	Ignore techque Report Abuse
	Tar sands crude good for America. Canadians good for America. Stable friends. Big city mayors and carbon footprint policy - bad for America ! ! Options for Canadian crude - good for all.
MrHighwaySafety Veteran Author St. Louis Posts:453 Points:105,265 Joined:Sep 2006	Message Posted: 7/19/2008 9:13:15 AM	Ignore MrHighwaySafety Report Abuse
	And what does this mean?
Matts_Pap All-Star Author Pennsylvania Posts:912 Points:141,570 Joined:Feb 2008	Message Posted: 7/19/2008 9:09:40 AM	Ignore Matts_Pap Report Abuse
	A billion here, a billion there, pretty soon it adds up to real money. Senator Everett Dirksen US politician (1896 - 1969)
Vin63 Sophomore Author San Bernardino Posts:190 Points:68,580 Joined:Oct 2007	Message Posted: 7/19/2008 9:07:16 AM	Ignore Vin63 Report Abuse
	I guess they have to do something with all of those profits besides paying out dividends to shareholders.
rvnvet70 Champion Author Michigan Posts:1,477 Points:919,050 Joined:Sep 2005	Message Posted: 7/19/2008 9:07:00 AM	Ignore rvnvet70 Report Abuse
	Who will get the extra crude?
cableman31 Veteran Author New York Posts:401 Points:356,765 Joined:May 2004	Message Posted: 7/19/2008 9:01:47 AM	Ignore cableman31 Report Abuse
	What ever help it may be, it isn't going to mean anything for 10 years or more.
MELBA91 All-Star Author Columbia Posts:549 Points:126,425 Joined:Mar 2008	Message Posted: 7/19/2008 9:01:16 AM	Ignore MELBA91 Report Abuse
	Same story as on the 17th..
DieselFord Champion Author Phoenix Posts:1,516 Points:249,535 Joined:May 2007	Message Posted: 7/19/2008 8:56:36 AM	Ignore DieselFord Report Abuse
	"I think Canada will buy the U.S. and re-name it:" Best to talk to China on this deal, they have over 50% ownership now !
BlueBike Champion Author San Jose Posts:2,254 Points:503,570 Joined:Feb 2007	Message Posted: 7/19/2008 8:56:27 AM	Ignore BlueBike Report Abuse
	Check and see if price changes.
ILBCNU All-Star Author Michigan Posts:783 Points:294,795 Joined:Aug 2005	Message Posted: 7/19/2008 8:55:11 AM	Ignore ILBCNU Report Abuse
	Why don't they build a refinery where they pump it!
FPLREP All-Star Author Virginia Posts:597 Points:811,240 Joined:Oct 2005	Message Posted: 7/19/2008 8:54:59 AM	Ignore FPLREP Report Abuse
	Better to send money to Canada than those crazy muslim terrorists.
EPA_Regs2Blame All-Star Author Michigan Posts:559 Points:153,205 Joined:Oct 2005	Message Posted: 7/19/2008 8:46:57 AM	Ignore EPA_Regs2Blame Report Abuse
	I think Canada will buy the U.S. and re-name it: The Land of Silly People with Lots of Energy in the Ground. “Whatever works to get power to the people, use it.” Saul Alinsky, speaking about TransCanada Corp./ConocoPhillips planned expansion.
throttle Champion Author Maryland Posts:4,212 Points:950,175 Joined:Jul 2004	Message Posted: 7/19/2008 8:45:40 AM	Ignore throttle Report Abuse
	old news
tazdriver Champion Author Alabama Posts:1,943 Points:498,380 Joined:Jan 2007	Message Posted: 7/19/2008 8:45:28 AM	Ignore tazdriver Report Abuse
	There is plentiful oil reserves in North America, more than anywhere else on the planet. Get the environmental wackos out of the way and drill now.
deanjk Veteran Author Arkansas Posts:286 Points:82,935 Joined:Apr 2008	Message Posted: 7/19/2008 8:41:51 AM	Ignore deanjk Report Abuse
	We should buy Canada.
TeachR06 All-Star Author Raleigh Posts:674 Points:412,980 Joined:Sep 2006	Message Posted: 7/19/2008 8:40:24 AM	Ignore TeachR06 Report Abuse
	The expense will be passed to the consumer and the price of gas will go up to pay for the pipline to bring us additional supplies. Hmmm.....
WVPhoenix Champion Author Charleston Posts:4,580 Points:618,035 Joined:Jan 2006	Message Posted: 7/19/2008 8:36:21 AM	Ignore WVPhoenix Report Abuse
	Well, we'll see.
ledoy Champion Author Dayton Posts:4,775 Points:969,600 Joined:Aug 2005	Message Posted: 7/19/2008 8:36:18 AM	Ignore ledoy Report Abuse
	we know where our gas money is going
ArboretumCop All-Star Author Richmond Posts:896 Points:940,905 Joined:Sep 2005	Message Posted: 7/19/2008 8:34:31 AM	Ignore ArboretumCop Report Abuse
	Cool.
REVLAW Champion Author San Antonio Posts:1,719 Points:324,585 Joined:Jul 2007	Message Posted: 7/19/2008 8:30:36 AM	Ignore REVLAW Report Abuse
	Dated good news. Again too early for new news.
Cachase1 Champion Author Oklahoma City Posts:2,775 Points:680,555 Joined:Aug 2003	Message Posted: 7/19/2008 8:26:31 AM	Ignore Cachase1 Report Abuse
	Might as well give it a try, see how it goes.
n3his Champion Author Pennsylvania Posts:1,543 Points:840,135 Joined:Feb 2006	Message Posted: 7/19/2008 8:23:46 AM	Ignore n3his Report Abuse
	Go for it.
bug27 Champion Author Kentucky Posts:1,598 Points:1,101,250 Joined:Apr 2005	Message Posted: 7/19/2008 8:22:18 AM	Ignore bug27 Report Abuse
	First to the Canadian west coast, then on to China.
Prodaddy Champion Author Houston Posts:1,183 Points:390,365 Joined:May 2007	Message Posted: 7/19/2008 8:21:24 AM	Ignore Prodaddy Report Abuse
	That is alot of money to spend
tahoe0708 All-Star Author Cincinnati Posts:694 Points:133,225 Joined:Jan 2008	Message Posted: 7/19/2008 8:18:00 AM	Ignore tahoe0708 Report Abuse
	keep it coming, but at lower prices...
brutus Champion Author Alberta Posts:1,387 Points:864,030 Joined:Feb 2003	Message Posted: 7/19/2008 8:16:37 AM	Ignore brutus Report Abuse
	Hmmmmm, must be money in this business? At over $5.00 a gallon for fuel their should be.
trkmtarv4 Sophomore Author Arkansas Posts:197 Points:62,515 Joined:Apr 2008	Message Posted: 7/19/2008 8:15:20 AM	Ignore trkmtarv4 Report Abuse
	good, good, but what about the draw backs?
Wolfwings All-Star Author Delaware Posts:607 Points:210,100 Joined:May 2004	Message Posted: 7/19/2008 8:13:35 AM	Ignore Wolfwings Report Abuse
	This should raise the price a bit.
The_WB Champion Author Detroit Posts:3,565 Points:411,450 Joined:Apr 2007	Message Posted: 7/19/2008 8:11:42 AM	Ignore The_WB Report Abuse
	Agreed
GoodGhettoGas Rookie Author Houston Posts:60 Points:51,725 Joined:May 2006	Message Posted: 7/19/2008 8:11:37 AM	Ignore GoodGhettoGas Report Abuse
	Sure this is old news. But has anyone considered that they should BUILD A REFINERY IN CANADA! Right next to where the oil is coming from. Come on people a $7 BILLION pipeline running 2000 miles transporting raw heavy high-sulfur crude oil from the source to the refinery is nuts. Once the product is refined tie in to the existing refined product distribution pipeline network. There are some red-neck machismo "ownership" issues at play regarding what country does the refining. I am as red-neck as anyone. REFINE THE OIL IN CANADA! Any other plan is for jugheads.
BoerneWatch Champion Author San Antonio Posts:5,915 Points:756,985 Joined:Oct 2005	Message Posted: 7/19/2008 8:07:19 AM	Ignore BoerneWatch Report Abuse
	That is a lot of money but think about how long a distance.
DooDaa Champion Author Massachusetts Posts:3,333 Points:742,180 Joined:Dec 2004	Message Posted: 7/19/2008 8:01:34 AM	Ignore DooDaa Report Abuse
	oh oh
Zinnoil Champion Author Illinois Posts:12,268 Points:1,442,620 Joined:May 2004	Message Posted: 7/19/2008 7:56:47 AM	Ignore Zinnoil Report Abuse
	Democrats don't like shale oil.
pepawsgirl All-Star Author Richmond Posts:513 Points:153,245 Joined:Feb 2008	Message Posted: 7/19/2008 7:55:23 AM	Ignore pepawsgirl Report Abuse
	We will pay the price.
WonderfulMI Champion Author Michigan Posts:1,104 Points:89,995 Joined:Jun 2008	Message Posted: 7/19/2008 7:51:02 AM	Ignore WonderfulMI Report Abuse
	I realize that they are in the oil business, but I would hope that investment in alternative green energy would get some investment also.
drclark Champion Author Tampa Posts:1,059 Points:148,920 Joined:Apr 2008	Message Posted: 7/19/2008 7:50:26 AM	Ignore drclark Report Abuse
	pickensplan.com
FLF Champion Author South Dakota Posts:1,291 Points:373,735 Joined:Jul 2007	Message Posted: 7/19/2008 7:47:06 AM	Ignore FLF Report Abuse
	THIS IS A TWO DAY STORY LETS GO FOR THREE!!!
org_elizard Champion Author Greensboro Posts:76,276 Points:1,085,600 Joined:Apr 2005	Message Posted: 7/19/2008 7:41:58 AM	Ignore org_elizard Report Abuse
	But..
Lonewolftx Champion Author Houston Posts:5,347 Points:1,052,085 Joined:Sep 2005	Message Posted: 7/19/2008 7:40:43 AM	Ignore Lonewolftx Report Abuse
	This is all nice but why not build a refinery to have that increase. Flow is great but w/o more refining capabilities it just sits and wiats doesn't it?
racerdj Champion Author Indianapolis Posts:1,258 Points:359,035 Joined:Jun 2003	Message Posted: 7/19/2008 7:40:21 AM	Ignore racerdj Report Abuse
	Too bad they are not starting now but to wait until 2012???
winggnutt Champion Author Detroit Posts:4,385 Points:1,034,855 Joined:Aug 2005	Message Posted: 7/19/2008 7:35:07 AM	Ignore winggnutt Report Abuse
	old news
papou Champion Author Tampa Posts:2,801 Points:420,095 Joined:Jul 2005	Message Posted: 7/19/2008 7:33:20 AM	Ignore papou Report Abuse
	good news I hope it spreads East and South
robertsss Veteran Author Hamilton Posts:278 Points:34,970 Joined:Jun 2008	Message Posted: 7/19/2008 7:28:29 AM	Ignore robertsss Report Abuse
	The west is going to boom even more!
niceguytx Champion Author Houston Posts:5,330 Points:1,033,620 Joined:Sep 2005	Message Posted: 7/19/2008 7:27:50 AM	Ignore niceguytx Report Abuse
	Good news.
olcowboy14 Champion Author Spokane Posts:1,090 Points:224,600 Joined:Jul 2007	Message Posted: 7/19/2008 7:27:07 AM	Ignore olcowboy14 Report Abuse
	Good. Create more jobs and give the economy and dollar a boost.
LeeFree All-Star Author Detroit Posts:920 Points:597,575 Joined:Jun 2005	Message Posted: 7/19/2008 7:24:59 AM	Ignore LeeFree Report Abuse
	Nice to see investment in the infrastructure. Now if we could only get the power and water companies to do that.
weenerdog Champion Author Detroit Posts:1,254 Points:229,610 Joined:Jan 2008	Message Posted: 7/19/2008 7:24:10 AM	Ignore weenerdog Report Abuse
	The Marathon refinery in Detroit is expanding too they're reporting on the news.