Southern build of Keystone XL already providing economic benefit to US
A business association whose members include some of the world’s biggest energy companies is urging the administration to approve the controversial Keystone XL pipeline, arguing that the southern portion of the project already has shown the positive economic impact the project will have on the country.The opposition to building the pipeline is based on the Big Green artificial scarcity agenda. Their strategy is to try to keep as much ail in the ground as they can in the vain hope that people will use more inefficient alternative energy. They may say other things are the reason, but at their core that is what they are trying to do. All the rest are just bad faith excuses to achieve their scarcity agenda.
The group commissioned a study on the economic effect of the 485-mile portion of Keystone pipeline known as the Gulf Coast Extension, which opened earlier this year linking Oklahoma and Texas. The study highlights benefits the project had on local businesses like restaurants and hotels along the route. It notes that during construction, TransCanada Corp. — the company behind the pipeline — spent $6 million each month directly with local businesses in Texas and Oklahoma.
The project required $2.3 billion in private-sector investment and the work of more than 4,800 people, researchers wrote.
The study was prepared by researchers at the Maguire Energy Institute at Southern Methodist in University for the Consumer Energy Alliance, which lists energy companies like Anadarko Petroleum Corp., BP, Exxon Mobil Corp. and Shell Oil Co. among its members.
The report argues that the country lacks the pipeline capacity to support booming North American energy production and says the increase in shipments of crude oil by rail is inefficient and unsafe.
In Oklahoma, the report says, TransCanada’s spending boosted economic activity by $2.1 billion, and in Texas, the project contributed $3.6 billion to the economy. They say the final phase could similarly have big economic benefits to communities along the route.