The API has called on the US Department of State to approve the Keystone XL project

The API has called on the US Department of State today to approve the Keystone pipeline project as soon as possible “as a matter of critical national interest.” The pipeline, which would be built by TransCanada Corporation, would be part of a pipeline system bringing oil from Alberta’s oilsands region in Canada to US refineries.

“Not only is this a chance for the White House to strengthen US energy security and help plan for the nation’s energy future,” said Cindy Schild, API’s refining issues manager, “but it’s also an opportunity to take a specific, public and dramatic action in support of creating new US jobs. TransCanada estimates that this project will create 13,000 organised labour jobs and hundreds of thousands of additional jobs.”

Canada’s oil reserves are second only to Saudi Arabia, and America imports more oil from Canada than from all Persian Gulf countries. Oilsands is a sensitive issue though, and there are still question marks over the production methods used to extract oilsands. The fact that the oilsands derived crude oil is produced over the border technically absolves America of all the emissions that are created in its production, but there are some in America who do not see it that way.

More than 342,000 new US jobs are likely to be created between 2011 and 2015 because of Canadian oilsands development, according to a study by the Canadian Energy Research Institute. The economic benefits flowing to the US relate in part to construction of industry facilities. But they also derive from the fact that much of the money America sends to Canada to buy oil is then in turn spent by Canadians on US goods and services.

The State Department’s preliminary assessment shows environmental impacts of the pipeline would be limited.

Read the article online at: https://www.worldpipelines.com/business-news/28012011/the-api-has-called-on_the_us_department_of_state_to_approve_the_keystone_xl_project/