Myth vs. Fact: Profits from the Keystone Project

MYTH: Only ‘Big Oil’ stands to profit from a successful Keystone project.

FACT: The Keystone XL will create jobs, boost the economy and secure U.S. energy supply.

Had the project not been delayed, in addition to the pipeline jobs, Keystone XL would have created upwards of 10,000 U.S. jobs in 2012 alone due to the expansion of oil sands production. Through 2035, development of the oil sands could contribute approximately 500,000 jobs and $210 billion to the U.S. GDP. [1]

According to IHS CERA, expanding pipeline capacity from Canada to the U.S. Gulf Coast via the Keystone XL would provide more flexibility to the U.S. supply system, allow infrastructure to begin to catch up with oil supply trends (namely the growing flow of Canadian oil), and enable increased US domestic production in the upper Midwest. A larger, more dynamic pipeline system benefits consumers, compared with a more constricted system that is less able to handle shifts in demand and supply.[2]

[1] Ibid

[2] IHS CERA, The Role of the Canadian Oil Sands in the US Market, 2011

Speak Your Mind