Tuesday, January 21, 2014

Foot Dragging Could lose the U.S. access to the Keystone Oil

Where crude oil is concerned, Canada waits for no country. It doesn’t matter how wealthy or how friendly that country is -- or whether that country is the United States. 
With the Canada-to-Texas Keystone XL pipeline stuck in limbo on the U.S. side, Canada’s Energy Board recently gave a thumbs up to a $6.5 billion pipeline designed to carry 525,000 barrels of oil per day from the oil sands of Alberta to ships on the British Columbia coast. The final destination is most likely Asia. 
The development has the U.S. oil industry attacking the Obama administration over its drawn-out process. 
“It’s taken longer to approve the Keystone XL pipeline than it did to win World War II, longer than it took us to put a man in space, and almost as long as it took to build the Trans-Continental railroad 155 years ago,” said Jack Gerard, president of the American Petroleum Institute. 
The U.S. State Department received the Keystone application in September of 2008. The 1,700-mile project is projected to create thousands of jobs and lessen the need for OPEC oil. Even with domestic production booming, the U.S. still imports about half the crude it uses. 
The department says it is still working on the pipeline approval process. “The decision will be made after consideration of the full range of issues, including environmental, economic and safety issues, energy security and compliance with relevant state and federal regulations," the department told Fox News in a statement.
Read the rest of the story HERE and view a related video below:

Link to a Related story:

Kerry says US will not be pressured into decision on long-delayed Keystone pipeline

If you like what you see, please "Like" us on Facebook either here or here. Please follow us on Twitter here.

1 comment:

BOSMAN said...

Obama and Kerry are dragging this out to the point where we're not going to get this and probably China will benefit. They're not going to be able to sting along the Canadians much longer....MAKE or BREAK TIME..