To secure our energy independence for not only economic interests, but national security interests., Latest Energy & Utilities News and Updates. Get this delivered to your inbox, and more info about our products and services. 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. 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". This caused the fuel shortages on the East Coast of the United States. Hence, opponents of this project have taken a well anticipated route, claiming that it will harm the environment. TC Energy already had suspended construction in January when President Biden revoked a key cross-border presidential permit. This portion would transport oil over 435 miles through 36" pipe running from Cushing, Oklahoma to Port. But this post could leave the wrong impression without full context. Pipeline opponents are invigorated by the Keystone XL decision and hope for more wins. TC Energy swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charge related to the suspension of Keystone XL. 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 key lesson there is the U.S. is not the whole story here. The entire system without the XL extension stretches about 2,687 miles in total length. It would have carried oil from landlocked Alberta to the U.S. Gulf Coast. The pipeline carries refined petroleum products such as gasoline, diesel, heating oil, and jet fuel from Houston, Texas, on the U.S. Gulf Coast up to Linden, New Jersey, and serves several markets along the route through various branch lines. Copyright 2023 CBS Interactive Inc. All rights reserved. But both TC Energy and the State Department have said the majority of those jobs would be temporary. Washington, DC 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. Weve seen several similar postsoffer other figures for how many jobs were lost as a result of Bidens executive order, ranging from 12,000 to83,000. Got a confidential news tip? Colonial Pipeline shut down distribution on May 7, 2021, following the cyberattack. Keystone XL is a tar sands pipeline to export oil out of the United States December 20, 2011 Anthony Swift One of the most important facts that is missing in the national debate surrounding. But the Trump administration revived the pipeline in early 2017. There would have been no certainty that the pipeline could have produced a net increase of 800,000 barrels a day, rather than just transporting oil from Canada that is currently being transported some other way. Oil sands require more processing than conventional crude. Former U.S. President Donald Trump had approved a permit for the line in 2017, but it continued to face legal challenges that hampered construction. The capacity of existing pipelines is about 591,000 barrels per day (bpd) and the two pending pipelines are expected to transport about 700,000 bpd initially with a potential of 830,000 bpd. We use Mailchimp as our marketing platform. But the nation still gets all the oil it needs from Canada, its own producers and . Most of those positions would have been temporary construction jobs. Three of the phases have now been completed, while the fourth one, an extension known as the Keystone XL (which stands for Keystone export limited), was cancelled in 2021. Even in the future, there would be no certainty that the pipeline could produce a net increase of 800,000 barrels a day. 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. This portion would transport oil over 435 miles through 36 pipe running from Cushing, Oklahoma to Port Arthur, Texas. The U.S. House tried for the . update email soon. Here is a map of the current Keystone Pipeline from the company's website. 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. There are already about 2.3 million miles of pipeline across the US, carrying oil and natural gas. All quotes delayed a minimum of 15 minutes. 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). This is a blow to U.S. energy security and a blow to the thousands of good-paying union jobs this project would have supported," said Robin Rorick, American Petroleum Institute's vice president of midstream and industry operations. For the . Although I do have an opinion on the matter, which I will share later, facts are facts which cannot be changed. Finally, the pipeline would expand the transportation of oil sands from the Midwest to the Gulf Coast. Natural Resources Defense Council 2023 Privacy Policy Oil and Liquids TC Energy builds and operates safe and reliable energy infrastructure. I cover the intersection of economics, politics and personal finance. Since these are already in service, whats the problem with this project? Sixteen years later, three phases of the Keystone project are complete. To review: Keystone XL, a project of the TransCanada Corporation (now TC Energy), was slated to carry oil from Alberta's tar sands across the country to refineries on the Gulf of Mexico. 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. Canceling the Keystone Pipeline Is a Mistake. 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. Was any part of the Keystone XL pipeline functional? 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 will also create up to 43,000 jobs, the majority of which will be permanent. oil sands) per day from Canada's Alberta province . Legal challenges continued against it, further stalling the project. 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 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. 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 . CNN Sans & 2016 Cable News Network. The pipeline was set to carry oil 1,200 miles (1 . Gregory Nemet, professor of public affairs at the University of Wisconsin-Madison's Wisconsin Energy Institute, pointed out that the cost of oil has steadily increased since last fall, when it was around $70 a barrel, to more than $130 last week before settling back at around $100 a barrel on Tuesday. A revised permit was resubmitted in May 2012 which contained an alternate route. But activists and scientists argued that to avoid the worst effects of climate change, the world had to keep half of oil and gas reserves in the ground. Most stock quote data provided by BATS. an award-winning journalist who spent over a decade breaking hard news and celebrity scoop with RadarOnline and Us Weekly. Oil sands crude emits about 17% more greenhouse gases than traditional oil, according to the U.S. State Department, largely due to the heat it takes to separate the oil from the sand. Jason Kenney, premier of the Canadian province of Alberta, is now pushing for the Biden administration to revive the Keystone XL pipeline . Learn more about Mailchimp's privacy practices here. ICE Limitations. This amount makes up 3% of U.S. crude oil imports and about 1% of the crude oil processed in U.S. refineries. In addition, it will boost U.S. energy production, thereby providing a boost to our economy. The pipeline would also accept U.S. crude from the Bakken oil fields in Montana and North Dakota. TC Energy said more than 1,000 people are out of work because of Bidens executive order. "You won't see a lot of environmental organizations jumping up and down and saying, 'Hey, this is the best thing ever,'" Kieve said. "And it's not necessarily that they're saying, 'Oh there's not enough oil.' This project would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. The original petition for permit was denied on January 18, 2012 due to environmental concerns. 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. The Presidents veto will occur despite the strong message conveyed by voters in the most recent election and without regard to the fact that the majority of Americans support the 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. Given that the U.S. is siding with Ukraine, this could put a damper on the countrys ability to continue its dealings with Russia. "Today, we can say yet again, that our efforts were a resounding success.". The oil industry and its allies have claimed that Keystone XL would have created hundreds or even thousands of jobs. A southern leg from Cushing,. Legal Statement. Unfortunately, Bidens initiative to cancel the project left many angered and without jobs. Keystone XL would carry crude derived from Alberta's oil sands. This group must review and issue National Pollutant Discharge Eliminations Systems permits for discharge of pollutants in state waters. On his first day in office, President Joe Biden signed an executive order revoking the permit for the Keystone XL pipeline, halting its construction in the U.S. TC Energy estimated in October that the pipeline would employ 11,000 Americans in 2021, generating more than $1.6 billion in wages. 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. For information about our privacy practices, please visit our website. Simply stated, Keystone XL is a way to get Canadian oil out of the United States, not into it. Disclaimer. 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. The Keystone Pipeline System stretches 2,687 miles, while Keystone XL was to be 1,210 miles in length. 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. 1800 I Street NW The project was delayed for the past 12 years due to opposition from U.S. landowners, Native American tribes and environmentalists. The Keystone XL pipeline would have been a new way for one Canadian energy firm to ship oil to the United States. Sign up for free newsletters and get more CNBC delivered to your inbox. It's important to understand what's contributing to the high prices of oil in the first place. "By revoking the Keystone pipeline permit, Biden is destroying 11,000 jobs and roughly $2 billion in wages," the post says. Spotted something? inaccurate stories, videos or images going viral on the internet. It's a great day for Mother Earth," Larry Wright Jr., chairman of the Ponca Tribe of Nebraska, said in a statement. The total capacity of both is expected to be about 1.3 million bpd. Opponents of the line fought its construction for years, saying it was unnecessary and would hamper the U.S. transition to cleaner fuels. Expanding the Keystone would have increased global oil production by less than 1%, an amount, they explained, is "almost negligible. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. None of this means Warren Buffett had anything to do with Biden's decision to spike the Keystone Pipeline. Read more about our work to fact-check social media posts here . Fourth is the U.S. To access the bitumen, Alberta's boreal forests are cut away in enormous strip mines. 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. 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. The fact that Canada has excess pipeline capacity is well known. In a Jan. 20 statement, TC Energy said Bidens order "would directly lead to the layoff of thousands of union workers." Heres point number one: The Keystone XL Pipeline is nothing new. The Keystone XL pipeline is an international project years in the making. It is not shut down. The Natural Resources Defense Council works to safeguard the earth - its people, The developer has now canceled the controversial project. The ad draws a misleading relationship between Russian imports and the Keystone pipeline project. The Keystone XL Pipeline consists of two parts. That makes oil sands crude more carbon-intensive and worse for the climate than conventional petroleum. The announcement ends a more than decade-long battle that came to signify the debate over whether fossil fuels should be left in the ground to address climate change. In this article, I will dispel the myths and rumors and discuss only the facts. Biden had committed to canceling the project during his campaign and revoked the permit soon after taking office. Proponents also argue that the pipeline will enhance U.S. energy security and help maintain adequate crude oil supplies for U.S. refineries. The fourth phase, dubbed "XL" for . 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. ", Rifles were involved in 297 deaths in the U.S. in 2022 and constipation killed 2,167.. hide caption. 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. The pipeline would span 875 miles. The dog dewormer fenbendazole can cure cancer in humans. Last year, Canada was the largest exporter of crude oil and petroleum products to the U.S., outstripping oil-producing nations in the Persian Gulf, according to the U.S. Energy Information Administration. Kristi Noem went a step further than Crenshaw, writing in a February 24op-edfor Fox News that in halting the Keystone XL pipeline Mr. Biden was "signaling to the world that American energy independence is no longer a priority.". Keystone XL will provide the U.S. with direct pipeline access to the secure and growing Canadian crude output and decrease our dependence on foreign oil from Mexico and Venezuela (the two largest oil exporters into the Gulf Coast). Second, the bitumen can be blended with lighter hydrocarbons to create a heavy crude. Extracting the bitumen and diluting for shipment requires energy, most of it from burning fossil fuels. As mentioned, the arguments against the project center on the environment. The Keystone pipeline leaked an estimated 9,120 barrels of oil, or roughly 383,000 gallons, in North Dakota in late October . In a Wednesday statement, the Canadian developer TC Energy said that after reviewing its options with. Why the pipeline? 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. This group is responsible to issue permits for sections of the project that require placement of dredge and fill materials in waters of the U.S. including wetlands or for pipeline that crosses navigable waters. "Keystone would have helped ease those fears while giving America the flexibility to counter Russian aggression by expanding energy exports to Europe," she wrote. Ramped up domestic oil production and new supply routes have lessened the U.S.'s need for the hundreds of thousands of barrels . 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. We want to hear from you. 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. The purpose of the pipeline was to transport oil from Canada that is currently being transported some other way. 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. 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. Fields in Montana and North Dakota pipeline will enhance U.S. Energy production, providing. 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