It is hard to believe that today marks the 5 year anniversary of the Keystone XL pipeline permit application. Keystone XL pipeline has been waiting for Presidential approval longer than any other cross-border pipeline project.
This project represents a high opportunity cost, and unfortunately we have paid a high price in the form of delayed economic growth and job-creation that would stem from the project. In a statement yesterday, The North American Building Trades Unions lamented the loss of building trade jobs during a time period where the construction industry hovers around 9 per cent, and our nation’s unemployment lingers at 7-8 percent.
In Gascoyne, ND there is a virtual grave yard of hundreds of miles of steel pipe waiting to be put to use building the Keystone XL. TransCanada purchased these pipes several years ago at a cost of over $200 million, and once approved the town of Gascoyne will experience all the benefits of increased economic activity. Until then it will continue to be a symbol of indecision and missed opportunities.
Make no mistake, if this were really only about a pipeline this project would have not only been approved but finished. Keystone XL has become the rallying cry for those that believe the project is the tipping point on climate change, regardless of experts confirming that the project would have no material impact on greenhouse gas emissions.
This is not a happy anniversary for this country, our economy or our energy security. This anniversary reminds us only that our government can’t get out of its own way and that thousands of workers have been denied the opportunity to make a good wage, contribute to our economy and provide for their families. Manufacturers continue to urge the President to approve this important project.
Latest posts by Chip Yost (see all)
- Veto Override Falls Short in Senate, Manufacturers Hope For Action - March 4, 2015
- Offshore Drilling Plan Misses the Mark - January 27, 2015
- Congress Gets Right to Work on Job-Creating Project - January 8, 2015