Endless delays concerning the Keystone XL Pipeline project may well have resulted in the U.S. economy losing out on an estimated $175 billion over the last 7 years, according to the American Action Forum (AAF). The State Department announced in January, 2014, that the construction “would not substantially worsen carbon pollution.” However, this February, Obama vetoed any possible legislation to finally get the project underway, returning plans back to the State Department to review (again) as to whether it is within the nations’ interests.
The pipeline could eventually bring energy independence to the U.S., resulting in added security and obviously jobs. Costing only $8 billion, the 1,179-mile line would run from Montana to Nebraska, bringing an estimated 830,000 barrels of crude oil from Canada to refineries on the gulf coast. Operated by TransCanada, it would mean a vast reduction in the U.S.’s reliance upon imports from problematic areas such as the Middle East, Russia and Venezuela.
Yet again it appears Obama’s government has missed the “economic boat.” If you are concerned with delays such as this, costing the U.S. economy many jobs and serious income, please Like & Share this post.