This type of project has been completed numerous times before. The current cost of oil takes partly into account the. The pipeline system. We need your help. The pipeline would have required years of construction and likely faced legal challenges, so it couldnt have solved todays demand needs. Not only did the revocation of the Keystone XL pipeline project permit reportedly hurt the Canadian and Alberta economies, but it cut thousands of jobs for Canadians and Americans. : Alexis Tereszcuk is a writer and fact checker at Lead Stories andan award-winning journalist who spent over a decade breaking hard news and celebrity scoop with RadarOnline and Us Weekly. Owned by North American company TC Energy, the Keystone XL Pipeline is the fourth phase of the Keystone Pipeline System, an existing 2,687-mile pipeline whose Canadian portion runs from Hardisty, Alberta, east into Manitoba where it turns south and crosses the border into North Dakota, according to the companys website (here). While the Dakota Access pipeline is moving oil out of North Dakota now, its future is uncertain because of court challenges that still haven't been resolved. And, we also have the technology to assure that the environment will be protected. Even if the Biden administration were to immediately offer new oil leases to drillers, it wouldn't help with the costs Americans are bearing today. "It's unfortunate that political obstructionism led to the termination of the Keystone XL pipeline. The Keystone XL pipeline is an international project years in the making. Critics hate it because they fear it will accelerate "dirty" oil production from Canada's oil sands region in Alberta. Although the extraction of oil sands is increasing in the U.S., transportation options from the Midwest to the Gulf Coast are limited. Fiery train crash in Greece kills dozens, many of them students, Ex-Georgia star Jalen Carter was racing in deadly crash, arrest warrants allege, Watch Live: Garland testifies amid ongoing special counsel investigations. It is not shut down. "By revoking the Keystone pipeline permit, Biden is destroying 11,000 jobs and roughly $2 billion in wages," the post says. You'll receive your first NRDC action alert and Unlike oil, renewable energy relies far less on fixed and limited natural resources. As the war between Ukraine and Russia continues to unfold, lawmakers in various states think Biden must take action now so that the U.S. doesn't rely on foreign oil. Keystone XL was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. As of Monday, May 10, the pipeline had not resumed operations of its main lines, although some smaller lines are operational. The oil industry and its allies have claimed that Keystone XL would have created hundreds or even thousands of jobs. This is a blow to U.S. energy security and a blow to the thousands of good-paying union jobs this project would have supported," said Robin Rorick, American Petroleum Institute's vice president of midstream and industry operations. For the . Although Alberta is now on . No, that's not true. The State Department is one of 15 departments under the executive branch of the federal government. The pipeline would span 875 miles. The Keystone XL pipeline project began some 12 years ago and has yet to reach the final stages of construction. Discovery Company. The Keystone pipeline leaked an estimated 9,120 barrels of oil, or roughly 383,000 gallons, in North Dakota in late October . The State Department estimated full-time permanent jobs to be closer to 50. Before Biden signed his executive order, only a 1.2-mile section of the pipeline had been completed in Montana near the U.S.-Canada border. The current Keystone Pipeline transports approximately 700,000 barrels of oil a day from Canada to Texas. That makes oil sands crude more carbon-intensive and worse for the climate than conventional petroleum. Lets look at the argument for and against the project. News provided by The Associated Press. It's generally cheaper to transport oil by pipeline than by ship, so refiners would likely opt for the Canadian crude. "The Keystone was not an oilfield it's a pipeline," she responded. "The key lesson there is the U.S. is not the whole story here. Thirty-five of them would be permanent, while 15 would be temporary contractors. Its symbolic of whether or not were willing to embrace the natural resources that we have in our country. A Division of NBCUniversal. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Legal Statement. inaccurate stories, videos or images going viral on the internet. The Keystone XL pipeline would then connect to existing pipelines and transport oil to refineries along the Gulf Coast. Before we explain Keystone, let me first state that beneath the ground of these United States are thousands upon thousands of miles of existing pipeline transporting natural gas and oil. Video shows President Joe Biden recalling an alien encounter. The Cushing Extension is 298 miles of 36 pipe which runs from Steele City, Nebraska to crude oil terminals and tank farms in Cushing, Oklahoma. The Keystone Pipeline is a series of metal pipes that run from Alberta Canada to Patoka, Illinois and Port Arthur, Texas. The 1,700-mile (2,735-kilometer) pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast, passing through Montana, South Dakota, Nebraska, Kansas and Oklahoma. Factset: FactSet Research Systems Inc.2019. The Environmental Protection Agency is the second group. It carries crude oil to refineries and terminals. Keystone XL Pipeline: The Keystone XL pipeline is a proposed extension of the Keystone pipeline system that will transport oil from Alberta, Canada to refineries in the United States. On his first day as the 46th President of the United States, Joe Biden signed an executive order revoking permission for the construction of the Keystone XL oil pipeline, an $8 billion, a 1,200-mile-long project that was supposed to carry up to 830,000 barrels of oil per day. At the heart of the protests was a knot of environmental concerns from the local to the global. The Natural Resources Defense Council works to safeguard the earth - its people, The environmental argument is studied by five groups. Fact Check: Scientists Did NOT Spot Mushrooms on Mars, Fact Check: PlayStation Will NOT Shut Down Its PS3 Servers, Verified signatory of the IFCN Code of Principles, Facebook Third-Party Fact-Checking Partner. At the time of the press release, the Government of Alberta had invested $1.1 billion in the project, largely covering the cost of construction through the end of 2020, according to TC Energy. Second, the bitumen can be blended with lighter hydrocarbons to create a heavy crude. Environmental activists and indigenous communities hailed the cancellation, and traders and analysts said U.S.-Canada pipelines will have more than enough capacity to handle increasing volumes of crude out of Canada, the primary foreign supplier of oil to the United States (here). In May 2021, the U.S. imported more than 800,000 barrels per day of crude oil and petroleum products from Russia, according to the U.S. Energy Administration. Since it first went into operation in 2010, TC Energy's original Keystone Pipeline System has leaked more than a dozen times; one incident in North Dakota sent a 60-foot, 21,000-gallon geyser. Although the new Congress will likely pass a bill to allow the pipeline to proceed, I expect the President will veto it. Get browser notifications for breaking news, live events, and exclusive reporting. "By revoking the Keystone pipeline permit, Biden is destroying 11,000 jobs and roughly $2 billion in wages," the post says. This portion would transport oil over 435 miles through 36" pipe running from Cushing, Oklahoma to Port. ", Feb. 26, 2022, Alberta.ca, "Pipeline Project - Keystone XL," accessed Feb. 28, 2022. Gregory Nemet, professor of public affairs at the University of Wisconsin-Madison's Wisconsin Energy Institute, pointed out that the cost of oil has steadily increased since last fall, when it was around $70 a barrel, to more than $130 last week before settling back at around $100 a barrel on Tuesday. The pipeline was set to carry oil 1,200 miles (1 . By Dennis Romero. President Joe Biden spent his first day in the White House signing a spate of executive orders aimed at undoing the policies of the Trump administration. Without support from the U.S. government, its effectively halted. To access the bitumen, Alberta's boreal forests are cut away in enormous strip mines. The Keystone Pipeline System is an oil pipeline system that runs between Canada and the United States. TC Energy's 1,210-mile Keystone XL pipeline would have had a capacity of 830,000 barrels per day with crude oil originating from Hardisty, Alberta, and heading to Steele City, Nebraska, where it would then be shipped to U.S. Gulf Coast refineries. We reached out to the user who published the post for their evidence, but we didnt hear back. Canada-based TC Energy first proposed the 1,200 mile Keystone XL pipeline in 2008 as a way to quickly pump 830,000 barrels of tar sands (a.k.a. Learn more about Mailchimp's privacy practices here. Examples of posts making this claim can be found here , here and here . Says he has been to Afghanistan, Iraq and those areas twice as president. Booms, Busts And Billionaires: An eBook From Forbes. Opponents of the line fought its construction for years, saying it was unnecessary and would hamper the U.S. transition to cleaner fuels. The Keystone XL pipeline would transport crude oil extracted from tar sands in Alberta, Canada, and shale oil from North Dakota and Montana to Nebraska. As mentioned, the arguments against the project center on the environment. Ramped up domestic oil production and new supply routes have lessened the U.S.'s need for the hundreds of thousands of barrels . "And it's not necessarily that they're saying, 'Oh there's not enough oil.' It's. This group is responsible to issue permits for sections of the project that require placement of dredge and fill materials in waters of the U.S. including wetlands or for pipeline that crosses navigable waters. When Biden became President of the United States, he scrapped the project and essentially put it to bed. In the weeks following U.S. President Joe Biden's decision to scrap the Keystone XL oil pipeline, posts on social media have claimed that the project "was in Phase 4 & just about completed". "Instead of having international competition for a scarce resource where everybody wants the oil and there's a fixed amount of it, it's different," Nemet said. The claim appeared as a post (archived here) published on Facebook on May 10, 2021. David Kieve, president of advocacy group Environmental Defense Fund Action, also told CBS News that building out the Keystone pipeline would not have softened the impact the Ukraine crisis is having on fuel prices. The company behind the controversial Keystone XL oil pipeline said Wednesday it's officially terminating the project. TransCanada conceded that Keystone XL would take oil from existing pipelines, increasing shipping costs. The Keystone Pipeline System stretches 2,687 miles, while Keystone XL was to be 1,210 miles in length. Oil sands crude emits about 17% more greenhouse gases than traditional oil, according to the U.S. State Department, largely due to the heat it takes to separate the oil from the sand. The current part of the Keystone pipeline that already exists uses 2,638 miles of hardened steel built to "withstand impact from a 65-ton excavator with 3.5-inch teeth," according to . This project would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. TC Energy appealed the ruling, but the Supreme Courtupheld itin July. The first is the Gulf Coast Project. Pipeline opponents are invigorated by the Keystone XL decision and hope for more wins. Canada is our largest trading partner and is important to U.S. job creation. Had construction continued, the pipeline would have entered service in 2023. The Keystone Pipeline from Canada to the U.S. is not closed. Refining analysts say both. Why now? The current Keystone Pipeline transports approximately 700,000 barrels of oil a day from Canada to Texas. The pipeline was expected to carry some 830,000 barrels per day of oil from Canada to the U.S. Keystone XL is a relatively small issue compared to the entirety of the existing U.S. pipeline system. TC Energy planned to invest the remaining $2.7 billion to fund the project. The Keystone Pipeline: A Never-ending Saga. President Joe Biden in January 2021 revoked the permit for an add-on to the Keystone system, but the rest of the system is still running. How? The Keystone XL pipeline would have been a new way for one Canadian energy firm to ship oil to the United States. In this article, I will dispel the myths and rumors and discuss only the facts. Related: If Wall Street's right, Obama may nix Keystone. A depot used to store pipes for TransCanada Corp.'s planned Keystone XL oil pipeline in Gascoyne, N.D., on Jan. 25, 2017. The Keystone Pipeline in North Dakota was shut down after it leaked oil. Russia is the world's second-largest exporter of crude oil, according to the U.S. Energy Information Administration. A Warner Bros. Note: if reading this fact check makes you want to contact us to complain about bias, please check out our Red feed first. "On behalf of our Ponca Nation we welcome this long overdue news and thank all who worked so tirelessly to educate and fight to prevent this from coming to fruition. TC Energy said more than 1,000 people are out of work because of Bidens executive order. But activists and scientists argued that to avoid the worst effects of climate change, the world had to keep half of oil and gas reserves in the ground. The 11,000 and $2 billion figures cited in the Facebook post are estimates published by the company, but most of the jobs would be temporary. But the U.S. imported an average of 209,000 barrels of crude oil per day from Russia in 2021, according to theAmerican Fuel and Petrochemical Manufacturers, as well as 500,000 barrels per day of other petroleum products. Keystone XL was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. Lead Stories is a U.S. based fact checking website that is always looking for the latest false, misleading, deceptive or Proponents also argue that the pipeline will enhance U.S. energy security and help maintain adequate crude oil supplies for U.S. refineries. Copyright 2023 CBS Interactive Inc. All rights reserved. That initial jump in the cost of crude was driven by the ongoing economic recovery, which boosted demand by consumers and businesses that had been dampened by the COVID-19 pandemic. The pipeline's opponents in Nebraska feared that any leak from Keystone XL would damage the critical aquifer, and they welcomed the end of the project. The Keystone XL pipeline was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska, but the project was delayed for the past 12 years due to opposition from U.S. landowners, Native American tribes and environmentalists. Keystone XL, which was proposed in 2008 to bring oil from Canada's Western tar sands to U.S. refiners, was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. With inflation soaring, gas prices have been increasing for months hitting an average of$4.33 a gallon on March 11, according to AAA. There are already about 2.3 million miles of pipeline across the US, carrying oil and natural gas. Three lawmakers from Pennsylvania, including Pittman, are hoping Biden will allow TC Energy to continue with Keystone XL pipeline construction so that the U.S. can soon become energy independent., According to Pittman, The Keystone pipeline is critical to our national energy infrastructure, but its also very symbolic. I believe we should let the project continue, which is exactly what I expect will happen in early 2015. However, TransCanada argued that this cost would be more than offset as shifting Canadian oil from the Midwest to the Gulf would increase the price that Americans paid for Canadian oil by $3.9 billion. In 2008 the country exported 1.8 million barrels a day of refined products, according to EIA. From there, refined petroleum products could be sold either in the U.S. or to foreign buyers. In the meantime, TC Energy's pipeline system in the northern Great Plains experienced a series of leaks of tens of thousands of gallons of oil. ", "When combined with additional 2021 contracts to be announced later, the total number of American union workers constructing Keystone XL in 2021 will exceed 8,000 and $900 million in gross wages," the release said. The fourth phase, dubbed "XL" for . Keystone XL would have passed through Nebraska, and for years, a coalition of Indigenous tribes, ranchers and local environmentalists demonstrated, lobbied and sued to halt the pipeline's construction. The Keystone Pipeline from Canada to the U.S. is not closed. keep you informed with the latest alerts and progress reports. "But in terms of gasoline prices and global oil prices, it's just something it's better to just ignore because it would have no impact. "And so we've got 8 billion people that are consuming oil and many countries that are producing it, and it all goes into one market.". National Association of Manufacturers CEO on Biden's canceling of the Keystone XL pipeline. This dental device was sold to fix patients' jaws. But most of those jobs are temporary. Copyright 2023 Market Realist. ", "We're all mindful of the pain that Americans are feeling at the pump right now, but the best way to eliminate pain at the pump in the long run is to get rid of the pump altogether," Kieve said. The operator, Canada-based TC Energy, said the pipeline that runs from Canada to Oklahoma lost about . Though the Keystone Pipeline XL had secured full funding through 2022, only 8% of it had been built by the time President Biden revoked the projects permit in the United States. People may receive compensation for some links to products and services on this website. The Keystone XL pipeline was designed to carry tar sands oil from Alberta, Canada, to Nebraska, where it would have connected to the Keystone Pipeline System. After multiple delays, President Barack Obama rejected the permit to build Keystone XL in November 2015. At the time Mr. Biden. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. Al Nash/Bureau of Land Management via AP First published on March 15, 2022 / 3:12 PM. Supporters say the oil is no dirtier than other forms of heavy oil the country is currently importing. First proposed in 2008, the $8 billion pipeline would deliver over 800,000 barrels of oil a day. "Keystone would have helped ease those fears while giving America the flexibility to counter Russian aggression by expanding energy exports to Europe," she wrote. President Obama is expected to either approve or deny the pipeline by the end of this year. Senator Joe Pittman said the U.S. imports around 800,000 barrels of oil per day from Russia, reports CBS Pittsburgh News. Is this good for America? It did not specify exactly how many jobs would be lost. Sign up for free newsletters and get more CNBC delivered to your inbox. US President Joe Biden has cancelled permits for the controversial Keystone XL pipeline on his first day in office. Lawsuits claim it wrecked their teeth. TC Energy swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charge related to the suspension of Keystone XL. What are the arguments for and against the project? All quotes delayed a minimum of 15 minutes. But they also grapple with the destruction of Alberta's forests and health effects that some researchers say could be linked to the strip mining. As issues continue to emerge, the spin is spun and citizens of this once united nation find themselves at odds with neighbors, friends, coworkers and even family. Lets skip to the main arguments for and against and you can decide for yourself if this project is warranted or if it should be denied. TC Energy already had suspended construction in January when President Biden revoked a key cross-border presidential permit. A little more than a year later, on his first day in office, Biden revoked the federal permit for Keystone XL, leading to the end of a project that had been contested for more than a decade. The Keystone XL pipeline project began some 12 years ago and has yet to reach the final stages of construction. See who is sharing it (it might even be your friends) and leave the link in the comments. In summary, Keystone is good for the economy, good for U.S. energy independence, and good for the American consumer. The punishing economic sanctions imposed by the West on Russia for its invasion ofUkraine have roiled global energy markets, with a U.S. ban on Russian oil imports further pushing up gas prices for Americans. Mr. Pourbaix refused, saying that a requirement to keep oil on Keystone XL in the United States would cause refineries to back out of their contracts. All Rights Reserved. 2022 CBS Interactive Inc. All Rights Reserved. Yet many experts agree that moving ahead with the pipeline wouldn't have prevented U.S. gas prices from climbing to a record high. ", People not vaccinated against COVID-19 came out the best. However, existing Canadian oil pipelines all go to the Midwest, where the only buyer for their crude is the United States. The Keystone XL crude oil pipeline wasn't yet operational when it was canceled in 2021, and wasn't expected to be running until 2023. Temporary jobs are still jobs. The petition was made to the U.S. Department of State because it would cross the U.S. border. In the weeks following U.S. President Joe Bidens decision to scrap the Keystone XL oil pipeline, posts on social media have claimed that the project was in Phase 4 & just about completed and that it had been paid for by the time Biden pulled the plug. While it is true that the project had secured funding, which was largely expected to be paid out in 2021 and 2022, the claim is partly false, as less than 10% of the pipeline had been built by the time Biden formally revoked the permit. The Keystone XL Pipeline consists of two parts. In October, TC Energy awarded contracts to six American union contractors to build the Keystone XL pipeline in three states in 2021. 727-821-9494, The Keystone XL pipeline "would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. But it's also true that exports of refined products from the United States will likely continue to rise. Building the Keystone XL pipeline would have fostered the expansion of the Canadian oil sands industry by increasing access to U.S. markets and international ones through exports from the Gulf Coast. Hence, opponents of this project have taken a well anticipated route, claiming that it will harm the environment. By late 2019, the Nebraska State Supreme Court seemed to clear one of the last hurdles for Keystone XL by approving its route through the state. Lead Stories is a U.S. based fact checking website that is always looking for the latest false, misleading, deceptive or Those in favor of the pipeline have several diverse points which bolster their opinion. Its shares closed largely flat on the Toronto Stock Exchange. In fact, the Keystone Mainline is 1,353 miles of 30 pipe which extends from Hardisty, Alberta to refineries in Wood River and Peoria, Illinois. President Joe Biden signed an executive order on January 20, 2021, revoking the permit for the Keystone XL, which stands for Keystone "export limited," segment of the Keystone system, which is the fourth phase of the system. Natural resources 1,200 miles ( 1 more wins the line fought its for! 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More CNBC delivered to your inbox into account the we didnt hear back 15 would be temporary contractors likely legal... The controversial Keystone XL would take oil from existing pipelines and transport oil over 435 miles through 36 & ;! And the United States, he scrapped the project dirty '' oil production from Canada 's sands... Pipeline to proceed, I will dispel the myths and rumors and discuss only the facts into account.... Xl, '' she responded hate it because they fear it will accelerate `` dirty '' oil from... On Biden 's canceling of the did the keystone pipeline ever carry oil pipeline from Canada to Oklahoma lost about stories, videos or going. And, we also have the technology to assure that the environment will be protected United States out best! Concerns from the local to the U.S. border about 2.3 million miles of pipeline across the US, oil! Have the technology to assure that the environment will be protected than enough to what. 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