Posted April 8, 2011
Editor's Note: Nearly seventy U.S. mayors from across the nation and a coalition of thirty Minnesota lawmakers sent letters in the past week to Secretary of State Hillary Clinton urging the State Department to swiftly approve the Keystone XL Pipeline project, which would bring more Canadian oil to U.S. Gulf coast refineries and greatly enhance America's energy security.
"The benefits of this energy project cannot be overstated. It will open the door to hundreds of thousands of American jobs and improve our nation's energy security," said Marty Durbin, executive vice president of the American Petroleum Institute. "Given the current global uncertainty, we need to boost energy production by using more friendly Canadian resources. Once approved, the pipeline expansion project will bring more than a million barrels a day of Canadian oil to U.S. refineries.
"A U.S Department of Energy report concluded that the Keystone XL Pipeline would help reduce U.S. imports of foreign oil from sources outside North America. This pipeline will further secure Canada's position as our number one supplier of imported oil and mean a steady and stable supply for years to come."
The Keystone XL Pipeline project has been under review by the government in consultation with 10 federal agencies for nearly three years. The administration should issue a final environmental impact statement on the project as soon as possible.
Oil sands development in Canada will create more than 340,000 U.S. jobs, generate about $34 billion in revenue for the government, and increase our energy security at a critical economic time. The Minnesota lawmakers said that "it is critical that final approval be issued as soon as possible so that these economic promises can become reality." The mayors echoed that sentiment saying "we must support private infrastructure like the Keystone Pipeline...such initiatives stimulate economic growth and generate government revenue to fortify depleted public budgets."
More information about the pipeline project can be found by visiting www.api.org/aboutoilgas/oilsands/.
ABOUT THE AUTHOR
Rayola Dougher is senior economist at The American Petroleum Institute (API), where she analyzes information, manages projects and develops briefing materials on energy markets and oil industry policy issues. She is the author or co-author of economic research studies covering a diverse range of topics including crude oil and petroleum product markets, gasoline taxes, energy conservation and competition in retail markets. In addition to testifying before federal and state legislators, she has participated in numerous newspaper, radio and television interviews on a wide range of issues affecting the oil industry, including crude oil and gasoline prices, industry taxes and earnings, exploration and production, and refining and marketing topics.
Prior to joining API, Rayola worked at the Institute for Energy Analysis where her research focused on carbon dioxide related issues and international energy demand and supply forecasts. Rayola holds a Masters degree in Economic Development and East Asian studies from the American University and a degree in History and Political Science from the State University of New York at Brockport.