was to carry about 830,000 barrels a day of . On his first day in office, President Joe Biden signed an executive order canceling the Keystone XL Pipeline Project. inaccurate stories, videos or images going viral on the internet. Gasoline is actually one of the nation's largest exports, going mostly to Latin America. Buffett does stand to profit from the cancelation of the Keystone pipeline and perhaps a great deal. These groups argue that the lifecycle greenhouse gas emissions associated with the development of Canadian oil sands is harmful to the environment compared to conventional oil or renewable fuels. Lawsuits claim it wrecked their teeth. According to TC Energy, the entire Keystone XL pipeline project would have cost around $8 billion to complete. Although I do have an opinion on the matter, which I will share later, facts are facts which cannot be changed. But the Trump administration revived the pipeline in early 2017. All Rights Reserved. Gas prices hit record highs as more Americans return to the office, MoneyWatch: Soaring gas prices putting strain on American households, U.S. concerns about TikTok are "absolutely valid," expert says, Belarus dictator to visit China as key Putin allies bolster ties, Hague "people's court" wants Putin held accountable for crimes against Ukraine, Diplomats in London show support for Ukraine by swimming in Hyde Park lake, U.S. must "sustain" its involvement in Ukraine war, secretary of state says, American Fuel and Petrochemical Manufacturers. When Biden became President of the United States, he scrapped the project and essentially put it to bed. Finally, there are multiple state and county agencies which will consider permits for projects that cross navigable waters (including state streams), state highways or work affecting cultural or natural resources. Note: if reading this fact check makes you want to contact us to complain about bias, please check out our Red feed first. All rights reserved. Here is a map of the current Keystone Pipeline from the company's website. One of them sparked outrage on Facebook over its effect on American jobs. "For 13 years, an international movement of frontline communities in the U.S. and Canada, Indigenous leaders, and environmentalists fought back against this terrible proposed project at every turn," Sierra Club Executive Director Michael Brune said in a statement. The greatest, and perhaps the only argument against the pipeline, is occurring on the environmental front. This group must review and issue National Pollutant Discharge Eliminations Systems permits for discharge of pollutants in state waters. This project would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. Ramped up domestic oil production and new supply routes have lessened the U.S.'s need for the hundreds of thousands of barrels . Could the Keystone XL pipeline help lower U.S. gas prices? BILLINGS, Mont. These typically exist in community groups and environmental organizations. TC Energy said more than 1,000 people are out of work because of Bidens executive order. It threatened to seep into the Mississippi. Building the Keystone XL pipeline would have fostered the expansion of the Canadian oil sands industry by increasing access to U.S. markets and international ones through exports from the Gulf Coast. The US Supreme Court denied a request from the Trump administration to allow construction of the Keystone XL pipeline, upholding a lower court's ruling blocking a permit needed for the project . Legal challenges continued against it, further stalling the project. First proposed in 2008, the $8 billion pipeline would deliver over 800,000 barrels of oil a day. The first is the Gulf Coast Project. A southern leg from Cushing,. This portion would transport oil over 435 miles through 36 pipe running from Cushing, Oklahoma to Port Arthur, Texas. Mr. Pourbaix refused, saying that a requirement to keep oil on Keystone XL in the United States would cause refineries to back out of their contracts. 2022 Cable News Network. "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.". But the latest figures show a general trend downward and that by October 2021, the figure was 595,000. 801 3rd St. S TC Energy's 1,210-mile Keystone XL pipeline would have had a capacity of 830,000 barrels per day with crude oil originating from Hardisty, Alberta, and heading to Steele City, Nebraska, where it would then be shipped to U.S. Gulf Coast refineries. The claim appeared as a post (archived here) published on Facebook on May 10, 2021. Since these are already in service, whats the problem with this project? The pipeline would divert large volumes of Canadian oil from the Midwest to the Gulf Coast, where it would be available for the first time to buyers on the world market. After multiple delays, President Barack Obama rejected the permit to build Keystone XL in November 2015. But its not as simple as substituting one source for the other. Oil sands production is increasing in the U.S. with the majority of it in the form of heavy crude. an award-winning journalist who spent over a decade breaking hard news and celebrity scoop with RadarOnline and Us Weekly. Stevenson confirmed that as of late 2020, about 152 kilometers, or 93 miles, of pipeline had been laid near the U.S.-Canada border. However, the Canadian government has put the brakes on the two pipeline proposals to export tar sands through its provinces due to the need to take more time to listen to its own public's concerns about water and safety. As mentioned, the pipeline will connect to existing Keystone Mainline and increase the transport of oil sands from Canada and the Midwest to the Gulf Coast. Canada doesnt have nearly enough oil to fill existing pipelines going to the United States. In short, the U.S. needs to approve this pipeline to accommodate the increase in production. The attacks came in social media posts, on television and, in at least one instance, in a paid ad from the House office of Rep. Jake LaTurner, a Kansas Republican who is seeking re-election to a second term. It did not specify exactly how many jobs would be lost. Colonial Pipeline, a major delivery system spanning from the U.S. Gulf Coast to the East Coast for transportation fuels and other refined petroleum products, halted operations on Friday, May 7, to contain the effects of a cyberattack. The Keystone XL pipeline, which is owned by TC Energy Corp (NYSE: TRP), was reportedly less than 10 percent built when Biden pulled the plug on the project. The current part of the Keystone pipeline that already exists uses 2,638 miles of hardened steel built to "withstand impact from a 65-ton excavator with 3.5-inch teeth," according to . Keystone XL would have passed through Nebraska, and for years, a coalition of Indigenous tribes, ranchers and local environmentalists demonstrated, lobbied and sued to halt the pipeline's construction. A Warner Bros. Why now? But both TC Energy and the State Department have said the majority of those jobs would be temporary. President Joe Biden's revocation of the March 2019 permit enabling the construction of the Keystone XL pipeline will likely result in more crude-by-rail volumes, according to industry. ", "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. Heres point number one: The Keystone XL Pipeline is nothing new. Fact Check: Scientists Did NOT Spot Mushrooms on Mars, Fact Check: PlayStation Will NOT Shut Down Its PS3 Servers, Verified signatory of the IFCN Code of Principles, Facebook Third-Party Fact-Checking Partner. The pipeline was set to carry oil 1,200 miles (1 . The fourth phase, dubbed "XL" for . TC Energy owns the existing Keystone oil pipeline, which runs from Alberta to the U.S. oil storage hub in Cushing, Oklahoma, and to the U.S. Gulf, along with a power and storage business. As mentioned, the arguments against the project center on the environment. The war in Ukraine also plays a role, although it was not the instigator of the increase. In 2005, the company announced its intentions to build a pipeline to transport crude oil from the oil sands region of Alberta, Canada to the existing Keystone Pipeline in Steele City, Nebraska. "Instead of having international competition for a scarce resource where everybody wants the oil and there's a fixed amount of it, it's different," Nemet said. For the . You'll receive your first NRDC action alert and The first is the U.S. Army Corp of Engineers. The post was flagged as part of Facebooks efforts to combat false news and misinformation on its News Feed. 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. TC Energy planned to invest the remaining $2.7 billion to fund the project. By 2012 that number had fallen to 8.5 million barrels a day. Well get to that in a moment. We reached out to the White House for a comment, but we havent heard back. Factset: FactSet Research Systems Inc.2019. Extracting the bitumen and diluting for shipment requires energy, most of it from burning fossil fuels. Opponents suggest it will harm the environment. Instead, they're a tarry fossil fuel called bitumen that's mixed in with clay, sand, rock and together, can be hard as a hockey puck. "You won't see a lot of environmental organizations jumping up and down and saying, 'Hey, this is the best thing ever,'" Kieve said. The State Department estimated full-time permanent jobs to be closer to 50, Big Oil (Probably) Isn't Going Away Anytime Soon. Keystone XL supporters, including most of the oil industry, said the pipeline construction would have created much-needed construction jobs. The oil and gas industry forms the basis of a tight economic bond between the U.S. and Canada, which made the progress of Keystone XL such a protracted, high-stakes fight. So "here's the deal": The Keystone XL pipeline was going to be built to offset declining imports from Venezuela, because Canadian oil is the same type as what they produce in Venezuela. First, the arguments against the project. 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