"The Keystone was not an oilfield it's a pipeline," she responded. Senator Joe Pittman said the U.S. imports around 800,000 barrels of oil per day from Russia, reports CBS Pittsburgh News. Oil sands crude emits about 17% more greenhouse gases than traditional oil, according to the U.S. State Department, largely due to the heat it takes to separate the oil from the sand. LaTurner said in an ad: The Keystone XL pipeline "would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. Keystone pipeline shut after oil release into Kansas creek On Wednesday evening oil started spilling into a creek near the pipeline in Washington County, Kan., about 240 kilometres. A Facebook post says that Bidens executive order revoking the Keystone XL pipeline "is destroying 11,000 jobs.". Spotted something? I believe we should let the project continue, which is exactly what I expect will happen in early 2015. The 11,000 and $2 billion figures cited in the Facebook post are estimates published by the company, but most of the jobs would be temporary. update email soon. By claiming that the project was in Phase 4 of construction, the posts seem to conflate the Keystone XL Pipeline with the larger Keystone Pipeline System. A 2014 report found that the company would need only 50 employees to maintain the Keystone XL pipeline once its finished, 35 of them permanent. Lets look at the argument for and against the project. The first is the U.S. Army Corp of Engineers. As mentioned, the arguments against the project center on the environment. In the report, the agency wrote that 10,400 estimated positions would be for seasonal construction work lasting four to eight-month periods. Discovery Company. This area has highly porous soil and shallow groundwater. ", "When combined with additional 2021 contracts to be announced later, the total number of American union workers constructing Keystone XL in 2021 will exceed 8,000 and $900 million in gross wages," the release said. The State Department estimated full-time permanent jobs to be closer to 50, Big Oil (Probably) Isn't Going Away Anytime Soon. First, the arguments against the project. Mr. Pourbaix refused, saying that a requirement to keep oil on Keystone XL in the United States would cause refineries to back out of their contracts. The developer has now canceled the controversial project. The Keystone XL pipeline would have been able to carry up to 830,000 barrels of oil every day, the figure used in LaTurners ad. The Obama-era State Department had denied TC Energys request for a permit in 2015. "It's that as we produce more and more of these clean energy technologiesthey get more affordable for everyone. "Democrats couldnt even get through Day 1 without killing jobs for middle class Americans.". The entire system without the XL extension stretches about 2,687 miles in total length. One recent issue involves the passage of the Keystone XL pipeline. However, the Canadian government has put the brakes on the two pipeline proposals to export tar sands through its provinces due to the need to take more time to listen to its own public's concerns about water and safety. Some ask why should it proceed? "By revoking the Keystone pipeline permit, Biden is destroying 11,000 jobs and roughly $2 billion in wages," the post says. The pipeline was set to carry oil 1,200 miles (1 . The pipeline would also accept U.S. crude from the Bakken oil fields in Montana and North Dakota. The US Supreme Court denied a request from the Trump administration to allow construction of the Keystone XL pipeline, upholding a lower court's ruling blocking a permit needed for the project . The State Department forecasted that no more than 50 jobs, some of which could be located in Canada, would be required to maintain the pipeline. In short: Most of the estimated jobs were temporary. The Keystone Pipeline is a series of metal pipes that run from Alberta Canada to Patoka, Illinois and Port Arthur, Texas. its plants and animals, and the natural systems on which all life depends. The pipeline's opponents in Nebraska feared that any leak from Keystone XL would damage the critical aquifer, and they welcomed the end of the project. Li Cohen is a social media producer and trending content writer for CBS News. In the United States, the existing Keystone Pipeline System runs from the North Dakota border south through South Dakota to Steele City, Nebraska, where it splits one arm running east through Missouri for deliveries into Wood River and Patoka, Ill., with the other running south through Oklahoma to Cushing and onward to Port Arthur and Houston, Texas.. On March 7, Fox News' Peter Doocy asked White House Press Secretary Jen Psaki whether Mr. Biden would "ever undo his executive order that stopped the construction of the Keystone XL" in an effort to lower gas prices. Even in the future, there would be no certainty that the pipeline could produce a net increase of 800,000 barrels a day, rather than just transporting oil from Canada that is currently being transported some other way. The oil industry and its allies have claimed that Keystone XL would have created hundreds or even thousands of jobs. Why now? November 18, 2014. "But in terms of gasoline prices and global oil prices, it's just something it's better to just ignore because it would have no impact. ", Even if the pipeline was already built, it wouldn't help with the price at the pump, Nemet added, noting that the U.S. has already doubled its oil production over the last 15 years. The project must also be in the national interest of the United States. Three of the phases have now been completed, while the fourth one, an extension known as the Keystone XL (which stands for Keystone export limited), was cancelled in 2021. LaTurners office cited reports showing the two figures. The capacity of existing pipelines is about 591,000 barrels per day (bpd) and the two pending pipelines are expected to transport about 700,000 bpd initially with a potential of 830,000 bpd. The Keystone XL pipeline would have been a new way for one Canadian energy firm to ship oil to the United States. The fact that Canada has excess pipeline capacity is well known. All Rights Reserved. While the Dakota Access pipeline is moving oil out of North Dakota now, its future is uncertain because of court challenges that still haven't been resolved. In the weeks following U.S. President Joe Biden's decision to scrap the Keystone XL oil pipeline, posts on social media have claimed that the project "was in Phase 4 & just about completed". Keystone XL Pipeline: The Keystone XL pipeline is a proposed extension of the Keystone pipeline system that will transport oil from Alberta, Canada to refineries in the United States. Since these are already in service, whats the problem with this project? In short, the U.S. needs to approve this pipeline to accommodate the increase in production. Canada is our largest trading partner and is important to U.S. job creation. Finally, there are multiple state and county agencies which will consider permits for projects that cross navigable waters (including state streams), state highways or work affecting cultural or natural resources. Keystone XL, an expansion of an existing North American pipeline, would have carried 830,000 barrels of crude oil from Alberta, Canada, to Nebraska daily at its peak. And, in any event, producers would be under no obligation to sell that oil to the U.S. Biden on Jan. 20, 2021, his first day in office, used the power of the executive branch to cancel the Keystone, which would have transported crude oil from the Canadian province of Alberta to Steele City, Neb., where it would connect with another leg stretching to Gulf Coast refineries. hide caption. Finally, the pipeline would expand the transportation of oil sands from the Midwest to the Gulf Coast. Keystone XL will provide the U.S. with direct pipeline access to the secure and growing Canadian crude output and decrease our dependence on foreign oil from Mexico and Venezuela (the two largest oil exporters into the Gulf Coast). The Keystone XL pipeline's developer has halted all construction on the project months after its permit was revoked by the Biden administration. The leak was. The Keystone Pipeline from Canada to the U.S. is not closed. The oil and gas industry forms the basis of a tight economic bond between the U.S. and Canada, which made the progress of Keystone XL such a protracted, high-stakes fight. Given that the U.S. is siding with Ukraine, this could put a damper on the countrys ability to continue its dealings with Russia. We reached out to the White House for a comment, but we havent heard back. President Joe Biden signed an executive order on January 20, 2021, revoking the permit for the Keystone XL, which stands for Keystone "export limited," segment of the Keystone system, which is the fourth phase of the system. Copyright 2023 Market Realist. Find out whats happened to the oil industryand where its headed next. In 2015 . The question is, If the thousands of miles of existing pipeline has been in use and the environment seems to be unaffected, why should Keystone XL suddenly be the project that ruins the planet? Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Even if the Biden administration were to immediately offer new oil leases to drillers, it wouldn't help with the costs Americans are bearing today. The press release also stated that the remaining $6.9 billion needed for construction was expected to be largely made in 2021 and 2022 and funded through the combination of a US$4.2 billion project level credit facility to be fully guaranteed by the Government of Alberta and a US$2.7 billion investment by TC Energy.. We rate it Half True. The Keystone Pipeline System is an oil pipeline system in Canada and the United States, commissioned in 2010 and owned by TC EnergyAs of March 2020, the Government of Alberta. Gasoline is actually one of the nation's largest exports, going mostly to Latin America. The 1,700-mile (2,735-kilometer) pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast, passing through Montana, South Dakota, Nebraska, Kansas . ", Earthquake in Turkey and Syria is "a systemic attack against Kurdish people.". Hundreds of opponents rallied there this week, calling on Biden to stop that project, too. Sign up for free newsletters and get more CNBC delivered to your inbox. Cellphone data used to arrest the Idaho quadruple-murder suspect proves that criticism of the 2000 Mules movies use of cell data is unfounded. Keystone XL pipeline protest in April 2014 in Washington D.C./Credit: Susan Melkisethian. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2019 and/or its affiliates. However, TransCanada argued that this cost would be more than offset as shifting Canadian oil from the Midwest to the Gulf would increase the price that Americans paid for Canadian oil by $3.9 billion. As the Entertainment Editor, she investigated Hollywood stories and conducted interviews with A-list celebrities and reality stars. Thanks largely to better fuel economy and higher prices, the long-term demand for gasoline in the United States is either flat or declining. TransCanada is a Canadian company that builds and operates energy infrastructure across the North American continent. Oil sands, also called tar sands, are a mixture of clay, sand, water, and heavy black viscous oil known as bitumen. Unfortunately, Bidens initiative to cancel the project left many angered and without jobs. The developer of the Keystone XL pipeline announced Wednesday it is pulling the plug on the controversial project after the Biden administration revoked its permit in January.. TC Energy, the . The operator of the Keystone Pipeline System, which carries a form of crude oil from Canada to multiple states for refining, said over the weekend . People may receive compensation for some links to products and services on this website. In a Department of Energy report evaluating Keystone XL's impacts on U.S. energy supply over the next twenty years, the agency found that it will take decades for Canada to produce enough oil to fill existing pipelines. It requires more processing than most oil, so producing it emits more greenhouse gases. First proposed in 2008, the $8 billion pipeline would deliver over 800,000 barrels of oil a day. The pipes pass through North Dakota, South Dakota, Nebraska, Kansas, Missouri, and Oklahoma. At the time of the press release, the Government of Alberta had invested $1.1 billion in the project, largely covering the cost of construction through the end of 2020, according to TC Energy. Used to arrest the Idaho quadruple-murder suspect proves that criticism of the estimated jobs temporary. Project, too the first is the U.S. imports around 800,000 barrels of oil a day allies. 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did the keystone pipeline ever carry oil