PCI Fellow David Hughes' report Drill Baby Drill leads RP Siegel at Triple Pundit to write that we should "immediately terminate the Keystone XL pipeline and to initiate criminal prosecution of all those involved, for their attempt to defraud the American public, and to, once again put the entire world economy at risk."
From the post:
Tar sands oil, the raison d’être for the much-opposed Keystone XL pipeline, is likewise troubled. It contains relatively low energy while requiring lots of energy, in the form of steam, to produce. Some estimates claim a cost of as much as $100 per barrel.
It is not just Hughes saying this. The Energy Information Administration (EIA) sees U.S. domestic crude oil production including shale oil peaking at 7.5 million barrels per day (mbd) in 2019 (well below the all-time U.S. peak of 9.6 mbd in 1970), and by 2040 the share of domestically produced crude oil is projected to be lower than it is today.