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 and Oklahoma. It can be processed to remove the bitumen which can be sent to refineries in two different forms. TC Energy planned to invest the remaining $2.7 billion to fund the project. It's important to understand what's contributing to the high prices of oil in the first place. The project received significant backlash from environmental activists and indigenous communities, and was viewed as a hindrance to the U.S. transitioning from using fossil fuels to clean energy. 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. To sweeten the deal, many of the refineries on the Gulf Coast happen to be located in foreign trade zones, where they can export Canadian oil to the world market without paying U.S. taxes. This is what the post looked like on Facebook at the time of writing: (Source: Facebook screenshot taken on Tue May 11 19:45:12 2021 UTC). When Biden became President of the United States, he scrapped the project and essentially put it to bed. I cover the intersection of economics, politics and personal finance. The 11,000 figure in the Facebook post appears to stem from an Oct. 28, Biden signed an order that revoked the permit, 11-volume State Department report on the Keystone XL pipeline, WRAL partners with PolitiFact NC to fact check political stories, State Department found in its 2014 report, Our ethics policy for PolitiFact journalists. Legal challenges continued against it, further stalling the project. 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". 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 . The Keystone XL tar sands pipeline is back in full force. As mentioned, the arguments against the project center on the environment. These posts are referring to the Keystone XL Pipeline, a project cancelled by Biden on his first day in office on Jan. 21, 2021, dealing a death blow to a long-gestating project that would have carried 830,000 barrels per day of heavy oil-sands crude from Alberta to Nebraska (here). We reached out to the White House for a comment, but we havent heard back. In this article, I will dispel the myths and rumors and discuss only the facts. Before Biden signed his executive order, only a 1.2-mile section of the pipeline had been completed in Montana near the U.S.-Canada border. While many were under the impression that the Keystone XL pipeline was nearly built and ready to operate, it would have served as the fourth phase of the entire Keystone Pipeline System. A revised permit was resubmitted in May 2012 which contained an alternate route. 33701 ", Psaki added the Department of Energy predicts that in 2023 the U.S. will "produce more oil than ever before.". All quotes delayed a minimum of 15 minutes. Texas Rep. Dan Crenshaw, who has urged the Biden administration to ramp up domestic oil production, said in a tweet the day before Russia's February 24 attack that the Keystone project would have produced 830,000 barrels of crude per day. The transport capacity of the Keystone XL pipeline, which Biden canceled, would have been about 830,000 barrels per day more than the amount of oil being imported to the United States from Russia. This story begins in Hardisty, Alberta, Canada with a company called TransCanada. As a result of those environmentally-friendly construction priorities, Keystone XL was said by some to be a "model for green pipelining," the Journal reports. There are already about 2.3 million miles of pipeline across the US, carrying oil and natural gas. Simply stated, Keystone XL is a way to get Canadian oil out of the United States, not into it. Keystone XL, an expansion of an existing North American pipeline, would have carried 830,000 barrels of crude oil from Alberta, Canada, to Nebraska dailyat its peak. Since it first went into operation in 2010, TC Energy's original Keystone Pipeline System has leaked more than a dozen times; one incident in North Dakota sent a 60-foot, 21,000-gallon geyser. Powered and implemented by FactSet. The Keystone pipeline does not carry gasoline. The 1,200-mile Keystone XL pipeline, proposed by the Canadian energy conglomerate TC Energy, would carry up to 35 million gallons of tar sands crude oil from Alberta through Montana, South Dakota . "But there is a recognition that those types of actions may have some impact on the prices that Americans are paying at the pump.". "You won't see a lot of environmental organizations jumping up and down and saying, 'Hey, this is the best thing ever,'" Kieve said. / CBS News. The Keystone XL pipeline was expected to act as an extension to this larger system that would run 1,210 miles from Hardisty, Alberta to Nebraska.. It did not specify exactly how many jobs would be lost. The project has become a matter of intense debate in the United States. Why now? The current cost of oil takes partly into account the. Booms, Busts And Billionaires: An eBook From Forbes. 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. Learn more about Mailchimp's privacy practices here. Its demise comes as other North American oil pipelines, including Dakota Access and Enbridge Line 3, face continued opposition from environmental groups. The pipeline system. In summary, Keystone is good for the economy, good for U.S. energy independence, and good for the American consumer. TC Energy said more than 1,000 people are out of work because of Bidens executive order. In short, the U.S. needs to approve this pipeline to accommodate the increase in production. 4 Min Read. As the war between Ukraine and Russia continues to unfold, lawmakers in various states think Biden must take action now so that the U.S. doesn't rely on foreign oil. "Clean energy that we harvest here at home and work to figure out a better way to store is going to power us here at home.". Global Business and Financial News, Stock Quotes, and Market Data and Analysis. ", "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. ", "New government-funded 'food pyramid' says Lucky Charms are healthier than steak. One of them sparked outrage on Facebook over its effect on American jobs. All rights reserved. "Keystone would have helped ease those fears while giving America the flexibility to counter Russian aggression by expanding energy exports to Europe," she wrote. This dental device was sold to fix patients' jaws. ", stated on February 8, 2023 in a blog post. The dog dewormer fenbendazole can cure cancer in humans. I ask, why not? Oil and Liquids TC Energy builds and operates safe and reliable energy infrastructure. The State Department estimated full-time permanent jobs to be closer to 50. But both TC Energy and the State Department have said the majority of those jobs would be temporary. Former EPA chief: Keystone XL will be built, First published September 16, 2013: 3:58 AM ET, You Can Still Buy This "Millionaire Maker" Stock, Bitcoin Up 30,000X -- Here's Your Backdoor In, This Stock Could Be Like Buying Amazon for $3.19, These are your 3 financial advisors near you, This site finds and compares 3 financial advisors in your area, Check this off your list before retirement: talk to an advisor, Answer these questions to find the right financial advisor for you, An Insane Card Offering 0% Interest Until Nearly 2020, Transferring Your Balance to a 14-Month 0% APR is Ingenious, The Top 7 Balance Transfer Credit Cards On The Market Today, Get $300 Back With This Outrageous New Credit Card. A southern leg from Cushing,. 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. The Keystone Pipeline System is an oil pipeline system that runs between Canada and the United States. Seeking comment on whether additional funds had been invested between Jan. 1, 2021 and Jan. 20, 2021 Reuters reached out to TC Energy but did not receive a response in time for this articles publication. At the heart of the protests was a knot of environmental concerns from the local to the global. For years, the Obama administration faced pressure to approve the project from Canada, the oil and gas industry and its political allies while also getting enormous pushback from environmental and other activists, including major Democratic donors. The vote was one shy of passage at 59-41. Alexis crime reporting earned her spots as a contributor on the Nancy Grace show, CNN, Fox News and Entertainment Tonight, among others. The operator, Canada-based TC Energy, said the pipeline that runs from Canada to Oklahoma lost about . Opponents of the line fought its construction for years, saying it was unnecessary and would hamper the U.S. transition to cleaner fuels. The Keystone XL pipeline is a 1,200 mile pipeline that will safely deliver crude oil from Canada and North Dakota to the United States. Supporters of Keystone say the project will benefit Americans because it will reduce the country's reliance on foreign oil. The Keystone XL was designed to carry more than 830,000 barrels a day of crude oil, virtually all of it coming 1,210 miles from the tar sands to Steele City, Neb. A storage yard in Montana contains pipe that was to be used in the construction of the Keystone XL oil pipeline. The Keystone XL pipeline is a 1,200 mile pipeline that will safely deliver crude oil from Canada and North Dakota to the United States. "It's unfortunate that political obstructionism led to the termination of the Keystone XL pipeline. All rights reserved. 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. Though the Keystone Pipeline XL had secured full funding through 2022, only 8% of it had been built by the time President Biden revoked the projects permit in the United States. Most stock quote data provided by BATS. Market data provided by ICE Data Services. How? Although I do have an opinion on the matter, which I will share later, facts are facts which cannot be changed. Stevenson confirmed that as of late 2020, about 152 kilometers, or 93 miles, of pipeline had been laid near the U.S.-Canada border. Not only did the revocation of the Keystone XL pipeline project permit reportedly hurt the Canadian and Alberta economies, but it cut thousands of jobs for Canadians and Americans. The pipeline would also accept U.S. crude from the Bakken oil fields in Montana and North Dakota. On November 19, 2014, the U.S. Senate voted against the passage of the bill which would allow the Keystone XL Pipeline to proceed. Get browser notifications for breaking news, live events, and exclusive reporting. Official govt docs expose Michelle Obamas 14 year history as a man., "Woody Harrelsons 60 seconds in the middle of his monologue was cut out of the edits released after the show., BREAKING Trump preps Marines to stop presidential coup.. Hence, opponents of this project have taken a well anticipated route, claiming that it will harm the environment. National Association of Manufacturers CEO on Biden's canceling of the Keystone XL pipeline. District of Columbia People may receive compensation for some links to products and services on this website. Finally, the pipeline would expand the transportation of oil sands from the Midwest to the Gulf Coast. US President Joe Biden has cancelled permits for the controversial Keystone XL pipeline on his first day in office. On page 90, the report concludes that the United States will import the same amount of crude from Canada through 2030 whether or not Keystone XL is built. Once refined, it'll be impossible to tell exactly where the oil that came down the pipeline went, but "with more oil, that [export] number will increase," said Milne. "The Keystone pipeline, under the best of circumstances if you were a proponent of seeing it completed, wouldn't be completed yet," he said. Producers would not have been obligated to sell that entire amount to the U.S. As Russia pressed its invasion of Ukraine, President Joe Biden faced accusations at home that he had made the United States more dependent on Russian oil. "A lot more transportation and people flying around, people driving, more demand for oil," he said. When you sign up you'll become a member of NRDC's Activist Network. TransCanada is a Canadian company that builds and operates energy infrastructure across the North American continent. TC Energy appealed the ruling, but the Supreme Courtupheld itin July. Fourth is the U.S. President Joe Biden in January 2021 revoked the permit for an add-on to the Keystone system, but the rest of the system is still running. 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 . (AP) The Trump administration on Wednesday approved a right-of-way allowing the Keystone XL oil sands pipeline to be built across U.S. land, pushing the controversial $8. Colonial Pipeline shut down distribution on May 7, 2021, following the cyberattack. With inflation soaring, gas prices have been increasing for months hitting an average of$4.33 a gallon on March 11, according to AAA. Lets look at the argument for and against the project. Read more about our work to fact-check social media posts here . Lets skip to the main arguments for and against and you can decide for yourself if this project is warranted or if it should be denied. The pipeline will allow the U.S. to substitute Canadian oil for other foreign oil. Now, GOP leaders are blaming surging fuel costs in part on a decision by President Biden early in his administration to block the Keystone XL Pipeline. First, the arguments against the project. Although the argument against the pipeline centers on environmental concerns, the real reason may have to do with the disdain for fossil fuels felt by environmental groups and others. The total capacity of both is expected to be about 1.3 million bpd. Jason Kenney, premier of the Canadian province of Alberta, is now pushing for the Biden administration to revive the Keystone XL pipeline . The agency will release a total of 60 million barrels of crude to help ease some of the supply disruptions caused by the war Ukraine. "And so we've got 8 billion people that are consuming oil and many countries that are producing it, and it all goes into one market.". "Unusual cancers are exploding right into stage 4" and those cancer cells have the spike protein. Part of TransCanada's Keystone XL pipeline under construction in Atoka, Oklahoma. "Whenever there is political instability in places that produce a lot of oil, markets react," Nemet said. "It wouldn't be online and wouldn't be pumping oil until the year 2023. And, we also have the technology to assure that the environment will be protected. The pipeline was expected to stretch from Alberta to Nebraska, allowing 830,000. To access the bitumen, Alberta's boreal forests are cut away in enormous strip mines. The Obama-era State Department had denied TC Energys request for a permit in 2015. Keystone XL, a US$8-billion oil pipeline that was set to flow from Alberta to Nebraska, is officially scrapped, the project's owner, TC Energy, confirmed on Wednesday. But it's also true that exports of refined products from the United States will likely continue to rise. "And yet, we still have $100 per barrel oil.". 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. LaTurners office cited reports showing the two figures. "In total, Keystone XL is expected to employ more than 11,000 Americans in 2021, creating more than $1.6 billion in gross wages.". On his first day in office, President Joe Biden signed an executive order canceling the Keystone XL Pipeline Project. Extracting the bitumen and diluting for shipment requires energy, most of it from burning fossil fuels. In 2008, TC Energy, then known as TransCanada, announced plans to build a pipeline that would carry 830,000 barrels of crude oil daily from Hardisty, Alberta, through the Great Plains to refineries on the Texas Gulf Coast. Canada-based TC Energy . It's. Keystone XL pipeline protest in April 2014 in Washington D.C./Credit: Susan Melkisethian. A $9 billion oil pipeline that became a symbol of the rising political clout of climate change advocates and a flash point in U.S.-Canada relations was officially canceled on Wednesday. Although it has been months since Biden revoked the permit needed to finish the Keystone XL pipeline, the war between Ukraine and Russia has lawmakers suggesting that the project be resurrected. , allowing 830,000 Energy builds and operates Energy infrastructure to remove the bitumen can... Between Canada and North Dakota to the Gulf Coast lets look at the for. Our work to fact-check social media posts here heart of the Keystone XL pipeline on first., President Joe Biden has cancelled permits for the economy, good the... Into it to cleaner fuels Atoka, Oklahoma other North American continent the U.S.-Canada border can. 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