By Paul Homewood
Signalling his commitment to quickly confront climate change, President-elect Joe Biden is planning to move within days to quash the controversial multibillion-dollar Keystone XL pipeline, according to two individuals familiar with the decision who spoke on the condition of anonymity because it had not been announced yet.
The politically symbolic pipeline, promoted by the oil and gas industry since it was first proposed about 15 years ago, has drawn opposition because it would carry tar sands, or heavy bitumen, from the boreal forests of northern Alberta, Canada, to refineries on the U.S. Gulf Coast. The energy used in extracting these molasses-like petroleum supplies would contribute heavily to climate change.
It appears likely that one of Sleepy Joe’s first actions will be to cancel the Keystone XL oil pipeline, which has been the ball in a ping pong game between Democrats and Republicans since Obama’s days in 2010.
The action has more to do with placating his far left supporters than saving the planet from global warming.
Currently oil is already flowing from Alberta through the original Keystone pipeline. Keystone XL is designed to increase that capacity, and thereby save the need for shipping by rail the oil that Keystone cannot currently handle. Anybody with a bit of common sense would realise that cutting rail journeys would reduce emissions, not to mention be much safer.
Worse still, most of Keystone XL has already been built, just leaving a gap in Nebraska, where eco-activists have been fighting against it through the courts.
According to the US Chamber of Commerce, the Keystone XL will:
- Produce 20,000 well-paying jobs during manufacturing and construction;
- Increase personal income for all America workers by $6.5 billion during the lifetime of the project.
- Generate an estimated $138.4 million in annual property tax revenue for state governments and local entities where the pipeline is located;
- Create $585 million in new taxes for communities among the pipeline route;
- Create more than $5.2 billion in property taxes during the lifetime of the pipeline.
- Generate additional private sector investment of around $20 billion on food, lodging, fuel, vehicles, equipment, construction supplies and services.
Even if Biden has his way and stops importing Canadian oil, it will make no difference at all, because Canada will simply export it to Asian markets, where demand for energy is insatiable.
BP Energy Review
As for Canada itself, despite Justin Trudeau’s green pretensions, oil production has been steadily increasing year on year. An eco-conscience is fine, but business is business, as Delboy might have said!
BP Energy Review
As will be the case with everything the Biden administration tries to do on climate, the revocation of the Keystone XL permit will be the exaltation of imaginary global climate benefits over real ones to U. S. workers and communities.
This is especially true since Canada is committed to developing the Alberta tar sands. The oil is going to be produced, transported and burned somewhere. The U.S. will just miss out on its benefits.
via NOT A LOT OF PEOPLE KNOW THAT
January 20, 2021 at 04:12AM