Cross-Border Keystone XL Pipeline May Change Oil’s Landscape

Fox Business reported that the proposed Keystone XL pipeline may surge U.S. oil prices as well as alter the landscape of the market.

As quoted in the market news:

So the pipeline has the potential to help the U.S. decrease its reliance on offshore imports, which could make domestic supplies more stable. About 20% of oil imports come from the Persian Gulf, and most of that would be cut off temporarily if the Strait of Hormuz was blockaded, he said. Members of the Organization of Petroleum Exporting Countries account for about 48.5% of U.S. oil imports.

Click here to read the full Fox Business report