KEYSTONE PIPELINE
September 2011
Mike Seney – Senior V.P. – Policy Analysis & Strategic Planning
Background
TransCanada’s Keystone XL crude oil pipeline is a vital link to secure energy supplies for
the United States. According to the U.S. Energy Information Administration, oil and
natural gas will continue to supply over 50 percent of U.S. energy needs in 2030.
Canada is a valued trading partner and our most reliable supplier of foreign-based crude
oil. The Keystone project will have the added benefit of potential links to growing
domestic supplies of crude oil in Montana and North and South Dakota.
The Facts
The environmental benefits of Keystone XL should not be overlooked. America needs a
diverse portfolio of energy supplies. Within the spectrum of viable options, it is
appropriate to seek a growing role for oil resources that are:
Land-based;
North American; and,
Transported by pipeline.
This project meets each of these criteria.
Securing stable and affordable energy from our North American allies through projects
such as the Keystone pipeline is in the national interest. Considering the economic and
energy security benefits of these vital resources, we should continue to expand
America's access to safe, affordable energy to help ensure improved domestic and global
energy security and stable prices for consumers.
Pipelines are the safest, most reliable, economical and environmentally favorable way to
transport oil and petroleum products, as well as other energy liquids, throughout the
U.S. America depends on the more than 168,000 miles of liquid pipelines to move
energy and raw materials our country relies on. Additional pipeline capacity will help
consumers and businesses throughout the United States.
This project also stands to provide a powerful private sector economic stimulus. During
construction, Keystone XL will create more than 13,000 jobs funded with private
investment. In addition, local governments will have a steady source of income from
economic activity associated with construction and from property taxes the pipeline
company will pay.
State Chamber Position
The State Chamber supports all efforts to move the project forward. The energy
independence of America will be greatly enhanced with the final construction of this
critical energy artery.
(9/9/11-mds)