Source: American Petroleum Institute
The American Petroleum Institute (API) called on the U.S. Department of State today to approve the Keystone pipeline project as soon as possible “as a matter of critical national interest.” The Keystone pipeline, which would be built by TransCanada Corporation, would be part of a pipeline system bringing oil from Alberta’s oil sands region in Canada to U.S. refineries.
“Not only is this a chance for the White House to strengthen U.S. energy security and help plan for the nation’s energy future,” said Cindy Schild, API’s refining issues manager, “but it’s also an opportunity to take a specific, public and dramatic action in support of creating new U.S. jobs. TransCanada estimates that this project will create 13,000 organized labor jobs and hundreds of thousands of additional jobs.”
Canada’s oil reserves are second only to Saudi Arabia, and America imports more oil from Canada than from all Persian Gulf countries.
More than 342,000 new U.S. jobs are likely to be created between 2011 and 2015 because of Canadian oil sands development, according to a study by the Canadian Energy Research Institute. The economic benefits flowing to the United States relate in part to construction of industry facilities. But they also derive from the fact that much of the money we send to Canada to buy oil is in turn spent by Canadians on U.S. goods and services.
The State Department’s preliminary assessment shows environmental impacts of the pipeline would be limited.