Giving the Canadian oil easier access to the Gulf means the glut in the Midwest goes away, making it more expensive for the region, but it would increase the amount of that oil available to global markets.
Supporters say the pipeline would create tens of thousands of jobs and potentially lower oil prices in the U.S. because of ensured access to oil supplies from a stable, local source.
Instead of hectoring speculators, perhaps Mr Lieberman should be hounding Mr Ghanem and the leaders of other oil-rich countries to allow foreign oil firms more access.