Keystone reapplication supported by president

Mar 2, 2012

TransCanada (from page 1)

growing significantly in states such as Oklahoma, Texas, North Dakota and Montana and producers do not have access to enough pipeline capacity to move this production to the large refining market at the U.S. Gulf Coast. The Gulf Coast Project will address this constraint.

“The Gulf Coast Project will transport growing supplies of U.S. crude oil to meet refinery demand in Texas,” added Girling. “Gulf Coast refineries can then access lower cost domestic production and avoid paying a premium to foreign oil producers. This would reduce the United States’ dependence on foreign crude and allow Americans to use more of the crude oil produced in their own country.”

Press Secretary Jay Carney said Obama welcomed the announcement.

“Moving oil from the Midwest to the world-class, stateof-the-art refineries on the Gulf Coast will modernize our infrastructure, create jobs, and encourage American energy production,” Carney said in a statement. “We look forward to working with TransCanada to ensure that it is built in a safe, responsible and timely manner, and we commit to take every step possible to expedite the necessary federal permits.

The company said that the decision to reapply for the Keystone XL permit was supported by words used in Obama’s statement Jan. 18, 2012, when he said the denial of the permit was not based on the merits of the pipeline but rather on an imposed 60-day legislative timeline to make a decision on the project.

“In the months ahead, we will continue to look for new ways to partner with the oil and gas industry to increase our energy security—including the potential development of an oil pipeline from Cushing, OK, to the Gulf of Mexico,” Obama said.

According to the company, they have negotiated over 99 percent of the easements in Texas and close to 100 percent in Oklahoma.

Pipeline supporters consider the project to be a huge job creator, while opponents say it would transport “dirty oil” with the potential of negative environmental consequences. — Traci Eatherton, WLJ Editor