Does anyone have any comments on the effect the Keystone XL will have on the property and mineral owners in central and western Texas? My thoughts: Since the heavy oil sands will be processed on the Gulf in southeast Texas, won’t that take refining capacity away from the Eagle Ford, Permian and Bakken fields? I understand that a large problem for the three mentioned areas is the take-away process as is seen in the Marcellus shale area of Pennsylvania, Ohio and West Virginia. The XL will not help these areas but will take away from their processing capacity at the refinery. Maybe I am confusing one type of refining with another.
If there is no current refinery for the oil-sands, how long will it take to build one? If the current refineries can be converted to processing oil-sands then this will take away from refining current shipments and add to the backlog at the well sites.
Can someone with more knowledge than me on this matter weigh in?
Thanks.
W R Gordon