Old policies vs. new realities

The single biggest oil and gas question for 2014 may be whether long-cherished US policies and assumptions can change to reflect surprising new realities. The fact that it's also going to be an election year isn't encouraging. It's possible now to chuckle at some major US environmental organizations' assumptions that continued delays in the proposed Keystone XL crude oil pipeline's federal cross-border permit decision would keep Alberta's oil sands in the ground. Rail transportation of crude not just from there, but also from North Dakota and Montana's Bakken tight oil formation, quickly emerged as an alternative in 2013. It wasn't an alternative the Sierra Club and Natural Resources Defe...

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