W.H. Adviser: Keystone Has Absolutely Nothing To Do with the Current Supply-Demand Imbalance in Energy Markets

EXCERPT:

SINGH: "No, that’s a distraction, Willie. Keystone is a pipeline, it's not an oil field. It doesn’t produce additional oil. Even if Keystone XL had been permitted last year, it would have been years away from completion. It wouldn’t have helped in today’s circumstance. And there is a portion of Keystone which is operational today, and it is not filled to capacity. So Keystone has absolutely nothing to do with the current supply-demand imbalance in energy markets. What I can tell you, though, Willie, is even if we drilled as much as we could, the price of oil is still set globally by the demand and supply conditions. And much of the supply is controlled by tyrants like Putin. And again, that’s why we have resolved to speed our transition towards cleaner, more sustainable and renewable sources of energy."