Speaking of markets: Oil exports from the USA
The following article proves why lower prices from the Keystone pipeline and 'drill, baby drill' were never in the cards. Oil is a world market and highest bidder gets it. The Keystone pipeline is the most efficient way to get oil to a port where the most export destinations can be reached. Has little to do with lower prices for the US. Canadian crude could go to Vancouver B.C. but that isn't as well positioned to reach the maximum number of import markets, and crossing the Rockies costs in energy to pump through a seismic area.
By the way ....
..... this also has to do with why exports are usually the highest when prices are high for grains. In free markets need trumps price. And low prices encourages low prices but doesn't increase market share for commodities.
Re: By the way ....
BTW, as far as the somewhat related discussion on our current significant volumes of refined product exports.
A big part of the improvement in the US fuels balance sheet is "refinery gain" whereby output volume actually expands as you crack oil, particularly heavy stuff.
So not a bad deal for us to be importing heavy oil then picking up the GDP and refinery gain as it is refined here and a lot of it exported back out.
As you say, oil is relatively fungible. Keystone wouldn't (won't) have a big impact on prices but it would have a modest effect on energy security.
There is a heck of a lot more environmental and public safety risk from all the 30-60 year old pipelines running everywhere. If I were King I'd definitely approve it but then I'd also be well along the way to having taxed fossil fuels out of existence, too.