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Keystone Pipeline: Why The Oil Sands Conduit Will Get Built
Oct. 07, 2011 05:00PM PST
Oil and Gas InvestingCNN Money reported that jobs and energy prices mostly likely will push the Obama administration to approve the controversial Keystone pipeline despite the protests and environmental concerns.
CNN Money reported that jobs and energy prices mostly likely will push the Obama administration to approve the controversial Keystone pipeline despite the protests and environmental concerns.
As quoted in the market news:
Stretching 1,600 miles from Alberta, Canada, to U.S. refineries on the Gulf Coast, the Keystone pipeline project would boost U.S. consumption from the Canadian oil sands, now more than 1 million barrels a day, by about 50%.
Because the pipeline crosses an international boarder, it needs approval from the State Department to get built. Over the last several weeks the State Department has held a series of public hearings on the matter, including one Friday in Washington, D.C., where both supporters and critics held dueling press conferences.