Statement on Keystone XL

“Keystone XL would have transported a critical resource in the most energy-efficient and safest way possible – more than one half-million barrels of oil per day from Canada to the United States.

“President Biden’s administration officials, including Secretary of Energy Granholm, have noted that pipelines are the safest and most efficient, and therefore the most environmentally sound way, to transport liquid fuels and natural gas. Even the State Department under President Obama admitted that the pipeline would have no discernable climate impact.

“After years of frustration with American politicians stalling and posturing about the Keystone XL pipeline, it is completely understandable that the company had to set the project aside. Nonetheless, no one should be surprised when this oil finds its way into markets through tankers (perhaps to China) or railcars. This also strengthens the market position of Middle East producers and Russia while weakening the U.S.”

“For many, fighting against the Keystone XL pipeline has been about intentionally increasing the price of gasoline for Americans. Since President Biden took office and took a series of actions – including canceling the Keystone XL pipeline – gasoline prices have risen 30 percent. And it’s only going to get worse. This is a dark day for American energy consumers.”