Earth to Bill McKibben…
“Here’s the big takeaway, though: If the Keystone were never to happen, Canadian oil-sands production would fall by only about 0.4 percent to 0.6 percent of the projected total by 2030. In the 15 months since President Obama delayed approval of the Keystone, the oil industry in North America has gotten especially creative at moving oil by rail, truck, and barge. That’s not going to stop. What many don’t understand is that those alternative modes of transportation are far more carbon-intensive—and expensive—than moving oil through a pipeline. Plus the rate of spillage tends to be higher for rail and barge transport than for pipeline transit.”
Big winner: Warren Buffett’s Burlington Northern Santa Fe railroad. Crony capitalism.