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A recent letter to the editor in the Duluth News Tribune expressing opposition to the proposed Line 3 Replacement project noted there is a “glut of cheap oil in the world, that the “Line 3 pipeline seems destined to be a stranded asset,” and that it will “sit empty.”
The letter fails to recognize the basics of how supply and demand work. Yes, given the current unprecedented challenges facing the global economy, there is an excess of crude oil and prices have hit rock bottom.
But when the COVID-19 pandemic passes, demand will rapidly increase …
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Writing in The Guardian, Bill McKibben claims that “big oil is using the coronavirus to push through the Keystone XL pipeline,” in part because states continue to enact laws protecting critical infrastructure projects, construction
“(A) series of states quickly adopted laws making it a felony to protest “critical infrastructure” like pipelines. (Last week South Dakota, a crucial link on the KXL route, made it a felony even to “incite” such protest.) And the Department of Health and Human Services issued a memorandum exempting pipeline construction from stay-at-home orders because such work was “critical” – that is, …