Well I didn't want to write that much, obviously I can't just throw out some ill connected thoughts though.
Ultimately I agree with you that the project in question will mainly aid extraction. It will be used to protect the investment in existing infrastructure way before we could hope for transitioning towards a world where oil is only used for production of plastics and transportation is achieved through technologies with a lower impact.
While I see your point of not burning fossil fuels you should offer some credible way out of the problem, our existence is based on that probably just as much as on a stable climate. Also note that if you stop the flow of oil today you will feel the effects within half a year maybe at most in society, whereas the climate gives you a 40 year lag. There is no way you get this past people. I could write more but I'm incredibly tired of it.