Comment 4 for bug 1722553

Here's how the code flows to python-keyring where the conflicting code appears to be:

openstackclient/shell.py
  from openstackclient.common import clientmanager

openstackclient/common/clientmanager.py
   # Get list of base plugin modules
   PLUGIN_MODULES = get_plugin_modules(
       'openstack.cli.base',
   )

   ^ loops through and imports the following modules from setup.cfg

   openstack.cli.base =
     compute = openstackclient.compute.client
     identity = openstackclient.identity.client
     image = openstackclient.image.client
     network = openstackclient.network.client
     object_store = openstackclient.object.client
     volume = openstackclient.volume.client

openstackclient/identity/client.py:
  from keystoneclient.v2_0 import client as identity_client_v2

keystoneclient/v2_0/client.py:
  from keystoneclient import httpclient

keystoneclient/httpclient.py
  import keyring

keyring/__init__.py:
  logger = logging.getLogger('keyring')
  (move this line ^ to bottom of file and issue goes away)