The best of EcoWatch, right in your inbox. Sign up for our email newsletter!
Keystone XL Export Pipeline: Bad for Americans, Bad for the Economy
The core talking points for the supporters of TransCanada's Keystone XL pipeline center around U.S. domestic energy security and economic growth. However, Keystone is an "export pipeline" that will take tar sands oil from Alberta, Canada, and pump it down to a tax-free zone in Texas and out to foreign markets.
In other words, the European Union, China and Latin America get the oil, the foreign-owned oil companies get the cash and North Americans get a few jobs and oil spills!
It's a complicated issue for sure, so I've tried to break out the main points in an infographic. Please feel free to download and share it, use it and tear it apart. All the information has been fact-checked and verified by energy policy experts.
Taking into account the fundamental data from the U.S. and global oil markets, the end location of the Keystone XL, the infrastructure being built at refineries processing the bitumen and the commitment of oil companies to selling their product for the best price, it is easy to see Keystone XL offers greater energy security and economic growth, just not in America.
Europe and Latin America will have more energy security thanks to a massive fuel pipeline they can tap as long as they're willing to pay.
Additionally, oil companies will have a new bounty of profit to play with. Yes, some of that will fall back into American hands, but not as much as it would if the majority of the products to be processed in Port Arthur were sold in America, or if the refineries were not located in a Foreign Trade Zone and had to pay a tax on their products.
As for the promise of new jobs, there is a short-term influx on cash for constructing the pipeline, but the latest estimates find that there will only be about 35 permanent jobs over the long term. These pipelines, once built, demand very little maintenance. That is, of course, until there is an oil spill.
In making the final decision on whether to approve the Keystone XL pipeline, it comes down to whether President Obama is comfortable with making more cash for foreign oil companies—that are already the most wealthy companies in the world—for the long-term pay off of 35 permanent jobs and the oil spills that will inevitably occur.
Seems like a no-brainer to me.
Visit EcoWatch’s KEYSTONE XL page for more related news on this topic.
EcoWatch Daily Newsletter
mevans / E+ / Getty Images
Calls for Radical Climate Action Grow Louder as NOAA Reports Last Month Was Hottest June Ever Recorded
By Jessica Corbett
As meteorologists warned Thursday that temperatures above 100°F are expected to impact two-thirds of the country this weekend, U.S. government scientists revealed that last month was the hottest June ever recorded — bolstering calls for radical global action on the climate emergency.
By John R. Platt
For years now conservationists have warned that many of Madagascar's iconic lemur species face the risk of extinction due to rampant deforestation, the illegal pet trade and the emerging market for the primates' meat.
Yes, people eat lemurs, and the reasons they do aren't exactly what we might expect.
Genetics are significantly more responsible for driving autism spectrum disorders than maternal factors or environmental factors such as vaccines and chemicals, according to a massive new study involving more than 2 million people from five different countries.