But for now, the demise of the Keystone XL pipeline is much like the ongoing diminishment of coal as the nation’s primary fuel for power generation – it’s a case of public policy reflecting economics rather than driving it.
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The President has maintained that his final decision would be based on the State Department’s assessment of the Keystone XL Pipeline and the impacts such a project would have on the environment, the economy, climate change, and American lives.
But the more important impact of the decision is it solidifies the president’s commitment to environmental issues.
“Dangerous climate change is the central environmental challenge of our time, and it’s time for everyone to step up now and meet that challenge”, Suh said.
Opportunity Agenda for Hoosiers Donnelly, who helped the Senate pass legislation approving the Keystone XL pipeline earlier this year, believes in an all-in approach toward American energy production as part of his Opportunity Agenda. The pipeline, when completed, would have carried about 800,000 barrels of oil a day from tar sands in Alberta, Canada, to refineries on the Gulf Coast.
The updated profile estimates that without the pipeline, Canadian railroads will be taking up the slack by more than doubling shipments of tar sands oil by rail. One is that the United States does not need the oil. After seven years of waiting for a decision on this permit application, this decision is a clear signal that the US isn’t open for business for everyone. It is disappointing the administration appears to have said yes to more oil imports from Iran and Venezuela over oil from Canada, the United States’ strongest ally and trading partner, a country with rule of law and values consistent with the U.S. On Friday, President Obama rejected the proposal for the pipeline that was to be completed by TransCanada Corp. Reed said the move brings national security implications into play where North America could have energy control.
The President asserts Keystone XL would make “no meaningful long-term contribution to the economy”.
In the oil sands, companies have found ways to reduce per-barrel GHG emissions by 30 per cent since 1990 and continue to seek more reductions through technology development.
Paul Ryan said, “By rejecting this pipeline, the president is rejecting tens of thousands of good-paying jobs”. “I want cheaper gas prices”. According to the US Chamber of Commerce, the pipeline would have created over 5,700 jobs in Wisconsin alone.
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At first glance, the pipeline may seem like a lucrative and harmless project, but Obama’s administration has made the right move by rejecting it for economic and environmental reasons.
