1 / 15

Keystone XL: A Key Ingredient Missing from the President’s Economic Recovery Plan

Keystone XL: A Key Ingredient Missing from the President’s Economic Recovery Plan. Nicolas Loris Herbert & Joyce Morgan Fellow The Heritage Foundation. The Heritage Foundation. Principles. Free Enterprise Limited Gov’t Individual Freedom. The Heritage Foundation. Energy Policy.

tovi
Download Presentation

Keystone XL: A Key Ingredient Missing from the President’s Economic Recovery Plan

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Keystone XL: A Key Ingredient Missing from the President’s Economic Recovery Plan Nicolas Loris Herbert & Joyce Morgan Fellow The Heritage Foundation

  2. The Heritage Foundation Principles • Free Enterprise • Limited Gov’t • Individual Freedom

  3. The Heritage Foundation Energy Policy • Remove Subsidies • Limit Regulation • Open Access

  4. Keystone XL: The Project • Up to 830,000 barrels of oil per day • Non-Stimulus Funded $7 billion Infrastructure Project • Private Sector Investment of $20 billion • 6 states will receive $5.2 billion in property taxes from TransCanada

  5. Jobs are a means, not the end • 20,000 jobs; 9,000 jobs; or 50 jobs? • Who cares? Politicians, but we shouldn’t. • End: Increasing productivity, wealth and value.

  6. Safety of Keystone XL • Safest way to transport oil • 57 specific pipeline safety standard requirements • 21,000 satellite sensors • Waterproof coating and cement casing to the piping near water tables

  7. Bipartisan Support • 22 House Democrats • 6 Senators • Sec. of State Clinton • President Obama?

  8. Rushed Decision? • Department of State’s 3-year environmental review. • Soil, wetlands, water resources, vegetation, fish, and wildlife • Soil composition prevents downward migration of oil

  9. Rushed Decision? • Worked with Fish & Wildlife to address endangered species • Worked with BLM and state agencies to make 340 minor realignments to the entire pipeline route. Considered 14 different routes. • DOS Conclusion: Keystone XL Pipeline would pose no significant environmental risk?

  10. Then Why the Problem?

  11. Bill McKibben’s “Pipe” Dream • To keep the limit 450ppm by 2050 • 10,000 nuclear reactors • 1 million solar rooftops per day • Energy efficiency improves 500 % • Population only grows to 9 billion • Global GDP grows at 1.6%

  12. Special Interests vs. Special Interests • Environmentalists vs. Unions • Unions vs. Unions • International Brotherhood of Electrical Workers, the Teamsters, the United Association of Plumbers and Pipe Fitters for the United States and Canada support. • Amalgamated Transit Union and the Transport Workers Union oppose.

  13. Concerns Over CO2 • NETL: Life-cycle greenhouse gas emissions of gasoline produced from Canadian oil sands crude are approximately 17 percent higher than gasoline from the 2005 average mix of crude oil consumed in the U.S. • Stopping Keystone XL won’t stop Canadian oil sands/Won’t reduce global emissions

  14. Nebraska Concern? • Ogallala Aquifer/Sand Hills • Input from: • U of Nebraska • Dept of Roads • National Resources Conservation Service • State Resource Conservationist

  15. What Should Be Done? • Congress should step in and approve the pipeline • Force the president’s hand • Allow NK to work with TransCanada to conduct reroute

More Related