"The Keystone pipeline, under the best of circumstances if you were a proponent of seeing it completed, wouldn't be completed yet," he said. In October, the company said it expected to employ more than 11,000 Americans in 2021 and generate more than $1.6 in gross wages. After multiple delays, President Barack Obama rejected the permit to build Keystone XL in November 2015. Examples of posts making this claim can be found here , here and here . So the idea that somehow the president's position on the pipeline that would still not be pumping oil emboldened Vladimir Putin to invade Ukraine is so far-fetched as to be incredible.". 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. Energy from solar panels, wind turbines and other low-carbon technologies also tends to get cheaper the more widely it is used, they said. For information about our privacy practices, please visit our website. The pipeline was expected to stretch from Alberta to Nebraska, allowing 830,000 barrels of oil sands crude to be carried into the U.S. a day, reports Reuters. According to TC Energy, the entire Keystone XL pipeline project would have cost around $8 billion to complete. 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. Although the extraction of oil sands is increasing in the U.S., transportation options from the Midwest to the Gulf Coast are limited. Oil sands require more processing than conventional crude. The Keystone pipeline, which President Joe Biden canceled, would have transported more oil per day than the U.S. imports from Russia, but it would not have been a simple offset. One of them sparked outrage on Facebook over its effect on American jobs. 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 portion of the Keystone Pipeline System that's already built runs from the North Dakota border south through South Dakota to Steele City, Nebraska, where it splits. Part of the pipeline runs east through Missouri while the other part runs through Oklahoma and into Texas. Its shares closed largely flat on the Toronto Stock Exchange. 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. The deposits are not in underground reservoirs like conventional petroleum. In addition, it will boost U.S. energy production, thereby providing a boost to our economy. 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, destruction of Alberta's forests and health effects that some researchers say could be linked to the strip mining, makes oil sands crude more carbon-intensive and worse for the climate, Biden Administration Strikes A Deal To Bring Offshore Wind To California, the world had to keep half of oil and gas reserves in the ground, enormous pushback from environmental and other activists, including major Democratic donors, TC Energy's pipeline system in the northern Great Plains experienced a series of leaks. "But there is a recognition that those types of actions may have some impact on the prices that Americans are paying at the pump.". In the report, the agency wrote that 10,400 estimated positions would be for seasonal construction work lasting four to eight-month periods. November 18, 2014. ", MRNA vaccines are being injected into our food supply., "Social Security has nothing to do with the deficit or the national debt.". 1894 shipwreck found in Lake Huron, confirming "powerful, tragic story", Bipartisan Senate group unveils rail safety bill in response to Ohio derailment, Top Dems push Fox News to stop promoting "propaganda" about 2020 election, What to know about Shigella bacteria as drug-resistant strain spreads, Pandemic-era food benefits end for millions of Americans as costs rise. None of this means Warren Buffett had anything to do with Biden's decision to spike the Keystone Pipeline. 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. LaTurner said in an ad: The Keystone XL pipeline "would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. Washington, DC The project became a touchstone issue for climate activists and Indigenous people in Canada and the U.S, including those along the pipeline's route. Drinking or using tap water treated with chlorine is dangerous because chlorine is a poison., Joe Biden described America as the foothills of the Himalayas with Xi Jinping., Kid Rock tweeted, Some people wouldnt recognize tyranny if it slapped a mask on their face, made them stand 6 feet apart, and forced them to take a vaccine for a virus with a 99.8% survival rate., The train that derailed in Ohio was carrying over 300,000 gallons of a chemical that was banned in 1974.. 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.. First, the arguments against the project. There have been calls to revive the Keystone XL pipeline. Oil Change International investigated this issue in a report that found the Keystone XL pipeline was part of a larger strategy to sell increasing volumes of Canadian crude on the international diesel market. 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. The company behind the controversial Keystone XL oil pipeline said Wednesday it's officially terminating 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". By contrast, Mr. Biden's decision with the International Energy Agency to release 30 million barrels of oil from the nation's Strategic Petroleum Reserve puts downward pressure on gas prices in the short-term, Kieve said. By Dennis Romero. Expanding the Keystone would have increased global oil production by less than 1%, an amount, they explained, is "almost negligible. President Joe Biden spent his first day in the White House signing a spate of executive orders aimed at undoing the policies of the Trump administration. A damaged section of the Keystone Pipeline was reopened Thursday after weeks of repairs and clean up following a leak of 600,000 gallons of crude oil into a Kansas creek, officials said. Canada-based TC Energy first proposed the 1,200 mile Keystone XL pipeline in 2008 as a way to quickly pump 830,000 barrels of tar sands (a.k.a. This group will consider the impact to endangered species in accordance with the Endangered Species Act. Oil and Liquids TC Energy builds and operates safe and reliable energy infrastructure. "Unusual cancers are exploding right into stage 4" and those cancer cells have the spike protein. It just means the Retuers "fact check" is as biased and dubious as the meme it attempted to correct. Canada-based TC Energy . But they also grapple with the destruction of Alberta's forests and health effects that some researchers say could be linked to the strip mining. When the U.S. expands its energy transportation system, additional workers are required to maintain and oversee it. Learn more about Mailchimp's privacy practices here. But it's also true that exports of refined products from the United States will likely continue to rise. ", Even if the pipeline was already built, it wouldn't help with the price at the pump, Nemet added, noting that the U.S. has already doubled its oil production over the last 15 years. 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. A map of the Keystone XLs route alongside the existing Keystone Pipeline System, operating since 2010, can be seen here . A lot has changed since the Keystone XL project was proposed in 2005. It's a global market," Nemet said. 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 . The Keystone Pipeline is a series of metal pipes that run from Alberta Canada to Patoka, Illinois and Port Arthur, Texas. Most objections center on the extraction of the oil, but some suggest the project will only make the U.S. more dependent on fossil fuels. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. But critics claim the oil Keystone carries will simply be exported to other parts of the world. CALGARY/NEW YORK (Reuters) - The Keystone XL pipeline project may be dead, but the United States is still poised to pull in record imports of Canadian oil in coming years through other . Extracting the bitumen and diluting for shipment requires energy, most of it from burning fossil fuels. In other words, 14% of the investment was made in 2020, with the remaining 86% secured and expected to be paid in 2021 and 2022. Lawsuits claim it wrecked their teeth. But the nation still gets all the oil it needs from Canada, its own producers and . ", "I can see why people make that connection," Nemet said. The company behind the controversial Keystone XL oil pipeline said Wednesday it's officially terminating the project. Here is a map of the current Keystone Pipeline from the company's website. But the latest figures show a general trend downward and that by October 2021, the figure was 595,000. Hundreds of opponents rallied there this week, calling on Biden to stop that project, too. As of 2014 . In short: Most of the estimated jobs were temporary. Copyright 2023 Market Realist. CNN Sans & 2016 Cable News Network. The punishing economic sanctions imposed by the West on Russia for its invasion ofUkraine have roiled global energy markets, with a U.S. ban on Russian oil imports further pushing up gas prices for Americans. "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.". Keystone XL pipeline protest in April 2014 in Washington D.C./Credit: Susan Melkisethian. 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.. The pipeline had been projected to carry oil nearly 1,200 miles (1,900km). Our Standards: The Thomson Reuters Trust Principles. However, existing Canadian oil pipelines all go to the Midwest, where the only buyer for their crude is the United States. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. Data is a real-time snapshot *Data is delayed at least 15 minutes. inaccurate stories, videos or images going viral on the internet. The third group is the Bureau of Land Management which grants temporary permits for portions of the project that would encroach on federal lands. These typically exist in community groups and environmental organizations. 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. . 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. ", Feb. 26, 2022, Alberta.ca, "Pipeline Project - Keystone XL," accessed Feb. 28, 2022. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. 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. Get this delivered to your inbox, and more info about our products and services. The developer has now canceled the controversial project. The Keystone XL Pipeline consists of two parts. The Reuters Fact Check team previously debunked social media claims surrounding the Keystone XL Pipeline, here . We rate it Half True. "It wouldn't be online and wouldn't be pumping oil until the year 2023. TC Energy had begun construction on the pipeline last year and said about 300 miles of the $8 billion project had been built. Is the Keystone Pipeline closed and is that causing a gas shortage? A revised permit was resubmitted in May 2012 which contained an alternate route. Although the project was stopped before it could even reach a quarter of completion, the Keystone Pipeline System is fully functional today. As issues continue to emerge, the spin is spun and citizens of this once united nation find themselves at odds with neighbors, friends, coworkers and even family. The Keystone XL pipeline would then connect to existing pipelines and transport oil to refineries along the Gulf Coast. The pipeline's opponents in Nebraska feared that any leak from Keystone XL would damage the critical aquifer, and they welcomed the end of the project. The Keystone Pipeline: A Never-ending Saga. In a Wednesday statement, the Canadian developer TC Energy said that after reviewing its options with. Because no refineries between Alabama and the mid-Atlantic produce substantial quantities of transportation fuels, the southeastern United States is supplied primarily by pipeline flows, and to a lesser degree, with marine shipments from the U.S. Gulf Coast and imports. Could the Keystone XL pipeline help lower U.S. gas prices? 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. The Keystone Pipeline moves crude oil from tar sands refineries in Canada and the Midwest to refineries in Texas. Presidential permits require environmental assessments and other federal reviews, but they were generally granted without controversy over the years to Canadian pipelines. All times are ET. All quotes delayed a minimum of 15 minutes. , "This is a landmark moment in the fight against the climate crisis," said Jared Margolis, a senior attorney at the Center for Biological Diversity. Specifically, the original pipeline route would have passed through an environmentally sensitive area of Nebraska known as the Sand Hills region. 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. 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. But both TC Energy and the State Department have said the majority of those jobs would be temporary. 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's true that the 830,000 barrels a day the pipeline is slated to carry would probably replace some of the 2 million barrels a day of heavy oil currently imported to the Gulf Coast. A little more than a year later, on his first day in office, Biden revoked the federal permit for Keystone XL, leading to the end of a project that had been contested for more than a decade. By 2011, Keystone XL had upended that quiet bureaucratic process. : Alexis Tereszcuk is a writer and fact checker at Lead Stories andan award-winning journalist who spent over a decade breaking hard news and celebrity scoop with RadarOnline and Us Weekly. , according to the U.S. Energy Information Administration. On March 7, Fox News' Peter Doocy asked White House Press Secretary Jen Psaki whether Mr. Biden would "ever undo his executive order that stopped the construction of the Keystone XL" in an effort to lower gas prices. 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. The pipes pass through North Dakota, South Dakota, Nebraska, Kansas, Missouri, and Oklahoma. The current cost of oil takes partly into account the. Why now? 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. TransCanada conceded that Keystone XL would take oil from existing pipelines, increasing shipping costs. "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.". Those in favor of the pipeline have several diverse points which bolster their opinion. "It's that as we produce more and more of these clean energy technologiesthey get more affordable for everyone. ", "We're all mindful of the pain that Americans are feeling at the pump right now, but the best way to eliminate pain at the pump in the long run is to get rid of the pump altogether," Kieve said. It was commissioned in 2010 and was to have four phases. The Environmental Protection Agency is the second group. I will give you the facts and you can decide. Critics hate it because they fear it will accelerate "dirty" oil production from Canada's oil sands region in Alberta. I cover the intersection of economics, politics and personal finance. TC Energy said more than 1,000 people are out of work because of Bidens executive order. Fiery train crash in Greece kills dozens, many of them students, Ex-Georgia star Jalen Carter was racing in deadly crash, arrest warrants allege, Watch Live: Garland testifies amid ongoing special counsel investigations. What are the arguments for and against the project? Updated on: March 17, 2022 / 11:57 AM Let us know!. 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. Market data provided by ICE Data Services. In short, Ill tell you what each side is saying so you can make an informed decision. ", Psaki added the Department of Energy predicts that in 2023 the U.S. will "produce more oil than ever before.". Buffett does stand to profit from the cancelation of the Keystone pipeline and perhaps a great deal. At the heart of the protests was a knot of environmental concerns from the local to the global. A storage yard in Montana contains pipe that was to be used in the construction of the Keystone XL oil pipeline. Unlike oil, renewable energy relies far less on fixed and limited natural resources. As the Entertainment Editor, she investigated Hollywood stories and conducted interviews with A-list celebrities and reality stars. But most of those jobs are temporary. A leak in the pipeline is a primary concern along with the ability to respond quickly to a disaster of this nature. One of the most important facts that is missing in the national debate surrounding the proposed Keystone XL tar sands pipeline is this Keystone XL will not bring any more oil into the United State for decades to come. That number is an estimate, and the claim lacks context about the longevity of Keystone jobs. Cellphone data used to arrest the Idaho quadruple-murder suspect proves that criticism of the 2000 Mules movies use of cell data is unfounded. 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 carries crude oil to refineries and terminals. This project would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. News provided by The Associated Press. The Keystone XL pipeline was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska. ", "New government-funded 'food pyramid' says Lucky Charms are healthier than steak. As mentioned, the arguments against the project center on the environment. 1800 I Street NW Keystone pipeline shut after oil release into Kansas creek On Wednesday evening oil started spilling into a creek near the pipeline in Washington County, Kan., about 240 kilometres. BILLINGS, Mont. 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 was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska, but the project was delayed for the past 12 years due to opposition from U.S. landowners, Native American tribes and environmentalists. The first is the U.S. Army Corp of Engineers. The Keystone pipeline leaked an estimated 9,120 barrels of oil, or roughly 383,000 gallons, in North Dakota in late October . Get browser notifications for breaking news, live events, and exclusive reporting. Note: if reading this fact check makes you want to contact us to complain about bias, please check out our Red feed first. The claim appeared as a post (archived here) published on Facebook on May 10, 2021. Some ask why should it proceed? According to a March 2020 TC Energy press release, the estimated cost of the project was to be $8 billion (here). "On behalf of our Ponca Nation we welcome this long overdue news and thank all who worked so tirelessly to educate and fight to prevent this from coming to fruition. 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. The Drought In The Western U.S. Is Getting Bad. The original petition for permit was denied on January 18, 2012 due to environmental concerns. Simply stated, Keystone XL is a way to get Canadian oil out of the United States, not into it. The Keystone pipeline, which President Joe Biden canceled, would have transported more oil per day than the U.S. imports from Russia, but it would not have been a simple offset. ", U.S. Rep. Ilhan Omar is "facing 40 years in prison and deportation after seven new crimes uncovered. 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. 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. Pipe intended for use in. The Keystone XL tar sands pipeline is back in full force. Oil sands production is increasing in the U.S. with the majority of it in the form of heavy crude. The current Keystone Pipeline transports approximately 700,000 barrels of oil a day from Canada to Texas. Had construction continued, the pipeline would have entered service in 2023. Many of these refineries are in Foriegn Trade Zones where oil may be exported to international buyers without paying U.S. taxes. Keystone XL, which was proposed in 2008 to bring oil from Canada's Western tar sands to U.S. refiners, was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. In 1991, a pipeline rupture spilled 1.7 million gallons of crude oil into the Prairie River near Grand Rapids, Minn., in the largest inland U.S. oil spill. Keystone XL was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. Biden's. Ive also heard opponents say that the project will not create very many high-quality or long-lasting jobs. 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. The Ogallala aquifer is also in this region and the pipeline would have posed a potential threat to the drinking water. This area has highly porous soil and shallow groundwater. Legal challenges continued against it, further stalling the project. The gas shortage on the East Coast of the United States in May 2021 was triggered by a cyberattack that caused the shutdown of the Colonial Pipeline, which runs from Houston to New Jersey and supplies 45% of the gasoline to the East Coast. Most of those positions would have been temporary construction jobs. Thanks for signing up. Given that the U.S. is siding with Ukraine, this could put a damper on the countrys ability to continue its dealings with Russia. an award-winning journalist who spent over a decade breaking hard news and celebrity scoop with RadarOnline and Us Weekly. All Rights Reserved. BNSF remains a money machine at . So we wanted to take a closer look. "And yet, we still have $100 per barrel oil.". With Americans facing the worst inflation in 40 years, would expanding Keystone offer much relief at the pump? Its demise comes as other North American oil pipelines, including Dakota Access and Enbridge Line 3, face continued opposition from environmental groups. Nor would producers be obligated to sell that entire amount to the U.S. Facebook, Jake LaTurner ad, Feb. 24-Feb. 25, 2022, Email, Mike Howard, communications director, Rep. Jake LaTurner, Feb. 25, 2022, PolitiFact, "U.S. is importing large amount of Russian oil, but Facebook post misstates Keystone XL role," Aug. 23, 2021, U.S. Energy Administration, "U.S. Imports by Country of Origin," accessed Feb. 25, 2022, Lead Stories, "Fact Check: U.S. Imports About 10% Of Its Oil From Russia, But Did NOT Stop Domestic Oil Production," Feb. 24, 2022, C-Net, "Gas Price Spike: How High Will Costs Soar After Invasion of Ukraine? 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. ICE Limitations. Al Nash/Bureau of Land Management via AP A Warner Bros. After more than 10 years, the embattled Keystone XL pipeline has officially been abandoned. Alexis crime reporting earned her spots as a contributor on the Nancy Grace show, CNN, Fox News and Entertainment Tonight, among others. The pipeline was set to carry oil 1,200 miles (1 . 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. The Natural Resources Defense Council works to safeguard the earth - its people, Factset: FactSet Research Systems Inc.2019. Our only agenda is to publish the truth so you can be an informed participant in democracy. 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. The. That means the nation's refineries are producing more gasoline, diesel fuel and other oil products than the country needs, and exporting the rest. (Terray Sylvester/Reuters) . That very well may be the case as Valero, one of the largest prospective purchasers of Keystone XL's crude, has already told its investors the its future business is in international export. hide caption. This dental device was sold to fix patients' jaws. The pipeline, which had severe environmental and human rights implications, has been on a long road towards failure. Russia is the world's second-largest exporter of crude oil, according to the U.S. Energy Information Administration. , '' accessed Feb. 28, 2022 / 11:57 AM Let us know! be found here here! Show a general trend downward and that by October 2021, the pipeline, had... Expands its Energy transportation System, additional workers are required to maintain oversee... It because they fear it will accelerate `` dirty '' oil production from Canada, own... Agenda is to publish the truth so you can be an informed participant in.! Or long-lasting jobs, Keystone XL, '' Nemet said pipeline runs through. The other part runs through Oklahoma and into Texas personal finance import from Russia of Engineers on the pipeline been... They fear it will accelerate `` dirty '' oil production from Canada, its own producers and Canada the... 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