Keystone XL is a Pipeline to New Jobs and Economic Growth
White House Should Green Light Oil Transport Project Now in Light of New State Department Report
(Washington, January 31, 2014) – The Obama Administration should end its five year review of the Keystone XL pipeline and approve it immediately, the American Council for Capital Formation (ACCF) said today. The State Department released its final environmental assessment today finding that the proposed transcontinental oil transport project will not significantly alter global greenhouse gas emissions. ACCF Senior Vice-President and Chief Economist Dr. Margo Thorning released the following statement.
Today’s State Department report is proof that the project will not have significant environmental impact and should be the final hurdle for the White House to green light this important project now. The Keystone XL is a pipeline to jobs, growth and restoring U.S. economic prosperity. According to the American Petroleum Institute, the full Keystone XL pipeline could support 42,000 jobs and generate $2 billion in wages for workers. A CERI study notes that full development of the oil sands could support more than 500,000 additional jobs in the U.S. by 2035. Any further political delay is a delay for much needed new employment and jobs across the country.
Founded in 1973, The American Council for Capital Formation (www.accf.org) is a nonprofit, nonpartisan economic policy organization dedicated to the advocacy of tax, energy, environmental and regulatory policies that encourage saving and investment.
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