Keystone XL & Lower Oil: Careful what you Wish for

Oil traders are watching today's vote at the US House of Representatives on the long-awaited bill approving the Keystone XL oil pipeline, transporting crude oil from western Canada to the US Gulf Coast. The chorus in favour of alternative energy sources has grown so loud, to the extent that the resulting decline in energy prices is hurting producers and exporting nations. Loonie traders have seen the currency fall 7% as oil lost 1/3rd of its value. Full charts & analysis.

Click To Enlarge