Unwelcome Milestone for Keystone XL

Unwelcome Milestone for Keystone XL

Hoover Dam, the Pentagon, Space Shuttle Discovery – all significant American achievements constructed in less time than we’ve been waiting to get the Keystone XL pipeline project off the ground. The construction period for these iconic endeavors may have been temporary – like all construction projects are – but their impact on our economy and national life is lasting. This week marks five years since the initial application by TransCanada to build the Keystone XL pipeline. In those five years, the State Department has conducted four separate assessments – every single one of which has confirmed that Keystone XL is environmentally safe and a boon for economic growth and energy security. In honor of this inauspicious anniversary, Keystone XL by the numbers:Who Supports Building Keystone XL

  • 42,000 jobs created the first two years, putting $2 billion in workers’ pockets
  • $3.3 billion in direct spending on construction and materials
  • $65 million generated by Keystone XL in short-term revenues for government from sales and use taxes
  • 800,000 barrels of oil per day transported by Keystone XL from the U.S. Bakken region and Canada’s oil sands
  • Overall economic impact after 25 years: $172 billion increase in U.S. GDP and 117,000 new jobs, according to the Canadian Energy Research Institute
  • 80 percent of voters support building the Keystone XL
  • 57 special, additional safety measures approved by the Pipeline and Hazardous Materials Safety Administration, ensuring Keystone XL will “have a degree of safety over any other” pipeline, according to the State Department
  • 11 years until the U.S. can be energy self-sufficient in transportation fuels with continued increases in domestic biofuels and Canadian oil through projects like Keystone XL
  • 90 cents of every dollar the U.S. spends on Canadian products, including oil, is returned to our economy through Canadian purchases of U.S. goods and services

Despite overwhelming public support and certain economic benefits, the project has now been under review longer than it will take to actually build the pipeline. The president can put a stop to this unacceptable delay today by approving the Keystone XL pipeline and all the economic and energy security benefits it guarantees.

Add Comment

By posting your comment, you agree to abide by our Posting rules

Text

© 2013 Energy Tribune

Scroll to top