Today marks the six year anniversary for TransCanada’s application for a presidential permit to build the remaining portion of the Keystone Pipeline system, better known as Keystone XL.
After six long years of pushing paper in Washington, political rhetoric, and redundant studies, we still have inadequate infrastructure to manage the growing supply of crude oil needing safe transportation. The incentives to approve Keystone XL continue to grow, further exposing the folly of the Keystone XL delay.
1. Transporting crude oil by pipeline is the most environmentally friendly way to ship crude oil to market.
A recent report by the Stockholm Environment Institute claimed the pipeline will contribute to an incredible amount of carbon emissions. In another Forbes piece, however, I rebutted the so-called facts within the report, revealing the dishonesty of opponents.
The validity of the report is questionable at the very least; in fact, the federal government has authored five different studies on the subject of carbon emissions from the Keystone XL pipeline. The reports support the claim the project will not adversely affect the environment, and is in the national interest, making KXL an environmentally conscious decision.
2. Building Keystone XL will support over 42,000 jobs.
A recent report by the U.S. State Department on the economic impact of the pipeline determined the project would create over 42,000 jobs either directly or indirectly, with the construction of the pipeline. The report also cited the construction alone would contribute $3.4 billion to the U.S. gross domestic product (GDP).
Be it jobs or helping improve the economy, building Keystone XL, will not only help the average American, but the American economy as a whole.
3. Ensuring energy independence and increasing production capabilities of crude oil supply.
The Energy Information Administration (EIA) reported the highest numbers of crude oil production in over 27 years. The July statistics skyrocketed past historic figures as far back as April 1987. Currently, the U.S. produces 8.5 million barrels of oil per day, necessitating an efficient means of transporting to ensure continued efforts to become energy independence. According to the EIA report, petroleum imports have declined in light of the new supply of crude oil, stabilizing our country’s future.
With the growing supply of crude oil, building the Keystone XL pipeline only benefits Americans and the economy. Without the pipeline, we will lack sufficient infrastructure to continue to grow our production of crude oil and the resulting energy independence. Bringing oil to market via pipeline will remain the safest, greenest, and most efficient way to transport crude to market.
We have a choice: we can create thousands of jobs and opportunities in America, and invest in our domestic industries. Or we can continue to send those investments, jobs, and opportunities overseas. Let’s make the smart choice, and approve KXL.