Actually it doesn't. I read that the pipeline will end at a port facility near New Orleans where much of it will be loaded onto tankers for shipment overseas. Only some of the oil will be refined here since this particular type of crude is fairly dirty and based on the current EPA regulations that it would be expense to refine here so much of it will be sold to those country where the regulations are more amenable to refining this type of oil.
And further, what oil is refined here in the US will be shipped to Europe since there is a tax loophole which will allow American oil companies to earn profits that will be fully exempt from US taxes. Since the oil is technically coming FROM a foreign country (Canada) and once refined, it will be going TO another foreign country (some place in Europe) that it will officially never be considered as having been American oil or gas and therefore it will be exempt from all state and federal taxes.
And yet the media can't understand why the 99% is so pissed-off with what's happening in America.
OCU
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