Koch abandons Bakken oil pipeline

[eridani]

http://respriv.org/koch-abandons-bakken-oil-pipeline/

Koch Pipeline Co LP has abandoned plans to build a 250,000 barrels-per-day pipeline to move North Dakota Bakken crude to Illinois, a spokesman confirmed on Thursday.

“The project is no longer being pursued,” spokesman Jake Reint said. He did not disclose why Koch canceled the project.

Last summer Koch had planned to launch a 45-day, non-binding open season to gauge shipper interest, to be followed by a binding open season if interest warranted. The company had not disclosed anything about the project beyond that announcement.

It is the second major Bakken pipeline project to be canceled. Lacking shipper interest prompted OKEOK Partners LP in November 2012 to shelve plans to build a 200,000 bpd pipeline to move Bakken oil to the U.S. crude futures hub in Cushing, Oklahoma.

Oil producers and shippers have instead relied increasingly on rail to move Bakken crude to markets, especially to refineries on the East and West coasts. Rail allows more flexibility to refiners seeking the best-priced crudes and shorter contracts, but has come under scrutiny because of accidents.

[defacto7]

1. Sounds fishy to me...

[eridani]

2. Was hoping someone more informed than I am could spot hidden gotchas n/t

[defacto7]

3. I can't find the gotchas particularly

but there are a few strange coincidences that make one wonder. Why does this happen right when the US Energy Dept. puts a green flag on Keystone? Was the bakken project some sort of leverage to push the keystone through? or a threat? Maybe it was a part of a back-door deal with the government for Keystone approval. With all the exploding freight cars of oil products merging in the last few months, there has to be some craziness being pitched in the underworld. The whole set of oil pipeline projects are completely devoid of logic and are sailing along on propaganda and clandestine plans.

That's my CT for the day. but I think it's more theory than conspiracy.

(takes off tin head gear)