What is status of Keystone XLpipeline project under Biden's Presidency
|What is Keystone XLpipeline project under Biden's Presidency|
Keystone XLpipeline project which would move oil from the province of Alberta to Nebraska, had been slowed by legal issues in the United States.
President Donald Trump, a Republican, had made building the pipeline a central promise of his presidential campaign. Biden, who will be inaugurated on Wednesday, was the vice president in the Obama administration when it rejected the project as contrary to its efforts to combat climate change.
However, U.S. President-elect Joe Biden is planning to cancel the permit for the $9 billion Keystone XLpipeline project as one of his first acts in office, and perhaps as soon as his first day, according to a source familiar with his thinking, Reuters reports.
The Canadian Broadcasting Corp reported: The words “Rescind Keystone XL pipeline permit” appear on a list of executive actions likely scheduled for the first day of Biden’s presidency. Biden, a Democrat, had earlier vowed to scrap the oil pipeline’s presidential permit if he became president.
Keystone XLpipeline project also faced opposition from environmentalists seeking to check the expansion of Canada’s oil sands by opposing new pipelines to move its crude to refineries.
Construction is well underway in Canada, with the international border crossing complete. In the United States, TC has started construction on pump stations in each of the states the line will pass through, but legal setbacks cost it much of the 2020 construction season.
What is and Background of Keystone XLpipeline?
The proposed Keystone XL Pipeline is a $13 billion project that will connect a secure and growing supply of Canadian crude oil with the largest refining centers in the United States, significantly benefiting the United States energy supply.
The existing Keystone Pipeline system went online in June 2010 and brings crude oil non-stop from Canada to market hubs in the Midwest. The proposed Keystone XL Gulf Coast expansion project is an approximately 1,661 miles long, 36-inch crude oil pipeline that begins in Alberta and extends southeast through Saskatchewan, Montana, South Dakota and Nebraska.
It incorporates the Keystone Pipeline extension before continuing to refining centers in Texas area.
Pipelines are the safest way to transport crude oil and petroleum products. Each year, hundreds of millions of gallons are safely transported on thousands of miles of pipeline in the U.S. The Keystone XL Gulf Coast Pipeline project will be the newest, strongest and most innovative pipeline in operation in North America, using the most advanced materials and technology. To move the same volume of Keystone XL oil into the U.S. market would take a train that was 25 miles long each and every day.
In January 2012, the Obama Administration rejected Transcanada’s Presidential Permit application. State of Nebraska announced it will work with Transcanada to identify an alternative route for KXL through the state.
Transcanada announces it will begin building the portion of KXL extending from Cushing Oklahoma to Texas City Texas in February 2012. The Oklahoma to Texas portion of the pipeline project does not require a federal Presidential Permit.
In April, after much cooperation, Transcanada’s proposes to Nebraska alternative KXL routes through their state.
Transcanada submits a new Presidential Permit application for KXL route from Alberta to Kansas in May 2012.
In June, the State Department announces the start of the Supplemental EIS process for the new KXL route in Nebraska, stating that it will also consider new information on environmental concerns having bearing on the entire project.
Nebraska expected to announce its decision on the best alternative route for KXL through the state in the Fall of 2012.
The Obama Administration decision on KXL Presidential Permit application is expected in the Spring of 2013.
Keystone XL’s Economic Benefits
The economic impact and long term benefits of the construction of the KXL pipeline are significant.
When completed, the KXL pipeline will have the initial capacity to deliver up to 900,000 barrels per day of crude oil to U.S. refineries.
The KXL pipeline project will create 20,000 well-paying jobs during manufacturing and construction.
In addition, TransCanada estimates that $138.4 million in annual property tax revenue will be generated for state governments and local entities where the pipeline is located. - The Global Energy Institute.
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