Recent reports suggest that Obama may be set to finally give a decision on the Keystone XL pipeline project, but it is not the decision many are hoping for, as the President is set to veto the entire project. The decision has been dragging on for almost seven years, which has resulted in the U.S. economy losing out on an estimated $175 billion, according to the American Action Forum.
Republican Senator John Hoeven, a staunch Obama critic and defender of the Keystone XL project, told the U.S. Senate at the end of July that Obama would announce his veto of the project after congress adjourned for the summer to have “less pushback.” Hoeven added that the President was making a “political decision rather than a decision based on the merits.” The State Department concluded in January last year that the pipeline “would not substantially worsen carbon pollution.” Despite this, Obama vetoed the legislation which could have got the project under way in February.
The benefits of the pipeline are clear – it would bring vast sums of money, jobs and increased energy independence to the U.S., reducing the country’s reliance on problematic areas such as the Middle East and Venezuela for oil imports. Costing only $8 billion, the 1,179-mile line would run from Montana to Nebraska, bringing an estimated 830,000 barrels of crude oil from Canada to refineries on the gulf coast. The Washington Times also conducted analysis proving that the pipeline would be safer than rail transport, with oil spills 4.5 times more likely by rail.
If you are concerned any decision to veto the pipeline would be a bad decision for the U.S. economy, please Like & Share this post.
