Hoeven: The Time Has Come to Act and Approve the Keystone XL Pipeline
WASHINGTON – Senator John Hoeven continued to call on President Obama to approve the Keystone XL pipeline project as part of a comprehensive approach to achieving North American energy security. In a speech on the Senate floor, Hoeven made the case for approving the pipeline project which will create thousands of jobs, provide revenue to help with the debt and deficit and help to achieve North American energy independence.
Hoeven cited the following facts in calling for approval of the Keystone XL pipeline:
- The Keystone XL pipeline has been under review for over four and half years.
- As governor of North Dakota, Hoeven worked with Montana Governor Brian Schweitzer to ensure that the Keystone XL pipeline would pick up light, sweet crude from the Bakken region to transport it to refineries throughout the U.S.
- The U.S. continues to rely on oil from the volatile Middle East, when it could import more oil from friend and ally Canada.
- The average Canadian oil sands crude produces less carbon dioxide than heavy crude from California or heavy crude from the Middle East.
- Since 1990, Canada has reduced the greenhouse gas emissions associated with every barrel of oil sands crude by almost 30 percent, and technology continues to improve.
- Canada is investing $3 billion in carbon capture and storage technology.
- 80 percent of the new development in Canadian oil sands is “in situ” production, which means drilling, rather than the old conventional method of excavation. “In situ” leaves a smaller environmental footprint.
- The Canadian oil sands will be produced. The oil will either come to the U.S. to be refined in state-of-the-art refineries with lower emissions, or be shipped to China via tankers across the Pacific and refined in higher emission refineries.
“The time has come to act, President Obama. The time has come to give us a decision on the Keystone XL pipeline. The time has come to approve it,” said Hoeven. “The fact is, we can build a bright energy future for this country, but we need the president to join with us to do that. We can create energy, jobs, tax revenues that will reduce our debt and deficit without raising tax rates, and energy independence for our nation. Again, I ask President Obama to work with us, to work with us on a bipartisan basis and the winners will be the American people.”
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