Short term, I think there is the possibility of gold taking quite a jump. Medium term, I think it will be strong as US defecit spending does not seem to be slowing down any time soon.

Long term, an ounce of gold buys a nicely tailored suit like it generally has for the last century or so. I imagine if you checked the POG vs oil, you would likely see it average 8-10 bbls per oz over the last few decades. I wouldn't bet heavily on gold getting too far out of whack with those ratios over an extended period of time. I hope that KXL's value comes from ounces found rather than price of the ounces.