CLAIM:
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.”
RATING: False
FACT CHECK:
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 …