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Keystone jumps hurdle

Published by Frank Defalco on January 31, 2014

OTTAWA – The U.S. State Department found the Canada-U.S. oil pipeline would not greatly increase carbon emissions meeting U.S. President Barack Obama’s test for building the Keystone pipeline project. The announcement released today is a scientifically based decision removing a major hurdle to getting this important infrastructure project underway. Canadian Manufacturers & Exporters (CME) Canada’s largest trade and industry association, recognizes Keystone’s importance to Canada’s economy both nationally and provincially, and applauds this well-informed decision paving the way for the safe future development and growth of Canada’s natural resource sector.
 
“This is an important step for the development of Canada’s energy resources and of Canadian manufacturing jobs,” explained Jayson Myers, CEO and President of CME. “From steel and machinery to chemicals and electrical components the Keystone Pipeline will drive demand for Canadian-made products throughout the whole energy supply chain. This is the correct decision for both Canada and the US.”
 
All of North America will benefit from the building of the Keystone pipeline. A $5.3-billion project making it the largest infrastructure project currently proposed in the United States. The planned pipeline would stretch 2,400 km from Alberta through to the US Gulf Coast refineries. Construction of the pipeline would employ over 9,000 and will add $172 billion to America’s gross domestic product (GDP).
 
Canada would also benefit, the estimated investments, reinvestments and revenue from the oil sands would impact Canada’s GDP by $2,283 billion over the next 25 years. With Keystone Western Canada’s total pipeline capacity would expand by 700,000 barrels per day increasing Canadian GDP by about another $633 billion over 25 years.
 
With this decision the US State Department can begin a 90-day review of whether the pipeline is in the US national interest. This determination can then be appealed by other federal agencies for 15 days. The US State Department has already stated in previous assessments that Keystone XL’s environmental impacts are negligible and the project would result in “no substantive change in global GHG emissions.”

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Found in: Keystone pipeline

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