Yesterday I did something that I haven’t done in a long time I actually read the Wall Street Journal newspaper and some of the in-depth analysis offered therein.
The newspaper went downhill about five years ago when they went into the USA Today and newsfeed mode and what few editorials they had read more like paste than actual business news. So yesterday there was an interesting article about the Keystone XL pipeline and a report that at least part of this major project is going to move forward.
Good news for the liquidity in the energy markets and reporting from the WSJ!
And take that cut and paste Carol!
Basically the section of pipeline around the Cushing, Oklahoma area is going to move forward. This is significant because if you don’t already know Cushing, Oklahoma is a major delivery and valuation point for the benchmark West Texas Intermediate Crude Oil Contract that is traded on the NYMEX. Basically, this is a strategic area that sets oil prices for consumers and the world.
This construction is also despite what the politicians are doing in Washington including former Rep. Carol Shea-Porter from New Hampshire.