Do Plummeting Oil Prices Weaken Case for Keystone Pipeline?
Now in its seventh year, pending Keystone project will likely get another boost from Congress, but its fate remains unclear.
Back in September 2008, when a Canadian company first sought U.S. approval to build the Keystone XL pipeline, the United States was the world's third largest oil producer and crude oil prices hovered around $105 per barrel.
At that time, Apple was selling the iPhone 3G, Britney Spears won an MTV award, and George W. Bush was president.
Today, in Barack Obama's second term in the White House, Calgary-based TransCanada is still seeking the go-ahead for the northern leg of its controversial Canada-to-U.S. project, which would move oil to the Gulf Coast. But just as in pop culture and politics, a lot has changed in oil economics.
The U.S. is now the world's largest producer of oil, having more than doubled