/ CBS News. Let us know!. The Keystone XL pipeline project began some 12 years ago and has yet to reach the final stages of construction. The Keystone pipeline spill in a creek running through rural pastureland in Washington County, Kansas, about 150 miles northwest of Kansas City, also was the biggest in the system's history, according to U.S. Department of Transportation data. TC Energy appealed the ruling, but the Supreme Courtupheld itin July. Gasoline is actually one of the nation's largest exports, going mostly to Latin America. BNSF remains a money machine at . The 875-mile pipeline would carry a heavy crude oil mixture from . Temporary jobs are still jobs. Copyright 2023 CBS Interactive Inc. All rights reserved. Keystone XL would carry crude derived from Alberta's oil sands. The Environmental Protection Agency is the second group. LaTurner represents Kansas 2nd District, which covers the Topeka area and points south. Because no refineries between Alabama and the mid-Atlantic produce substantial quantities of transportation fuels, the southeastern United States is supplied primarily by pipeline flows, and to a lesser degree, with marine shipments from the U.S. Gulf Coast and imports. Since these are already in service, whats the problem with this project? This is a blow to U.S. energy security and a blow to the thousands of good-paying union jobs this project would have supported," said Robin Rorick, American Petroleum Institute's vice president of midstream and industry operations. In summary, Keystone is good for the economy, good for U.S. energy independence, and good for the American consumer. It's a global market," Nemet said. The Keystone XL Pipeline, a planned extension to this larger system that would run 1,210 miles from Hardisty, Alberta to Steele City, Nebraska, is considered the fourth phase of the Keystone Pipeline System (www.keystonexl.com/about/). So the idea that somehow the president's position on the pipeline that would still not be pumping oil emboldened Vladimir Putin to invade Ukraine is so far-fetched as to be incredible.". By 2012 that number had fallen to 8.5 million barrels a day. Li Cohen is a social media producer and trending content writer for CBS News. See who is sharing it (it might even be your friends) and leave the link in the comments. "And supply doesn't always quickly respond to that kind of shock in demand.". South Dakota Gov. "Clean energy that we harvest here at home and work to figure out a better way to store is going to power us here at home.". The Keystone XL pipeline was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska. The oil and gas industry accounts for about 5% of Canada's economy, and nearly all of the industry's exports go to the United States. "Stop importing from Russia, start producing more," he tweeted in early March. By 2012 that number jumped to 3.2 million barrels. But both TC Energy and the State Department have said the majority of those jobs would be temporary. "It wouldn't be online and wouldn't be pumping oil until the year 2023. The U.S. House tried for the . Biden's. ", Earthquake in Turkey and Syria is "a systemic attack against Kurdish people.". It can be processed to remove the bitumen which can be sent to refineries in two different forms. The Keystone XL tar sands pipeline is back in full force. Official govt docs expose Michelle Obamas 14 year history as a man., "Woody Harrelsons 60 seconds in the middle of his monologue was cut out of the edits released after the show., BREAKING Trump preps Marines to stop presidential coup.. The Keystone XL pipeline is a 1,200 mile pipeline that will safely deliver crude oil from Canada and North Dakota to the United States. Energy from solar panels, wind turbines and other low-carbon technologies also tends to get cheaper the more widely it is used, they said. Now, GOP leaders are blaming surging fuel costs in part on a decision by President Biden early in his administration to block the Keystone XL Pipeline. Without support from the U.S. government, its effectively halted. The State Department forecasted that no more than 50 jobs, some of which could be located in Canada, would be required to maintain the pipeline. "The key lesson there is the U.S. is not the whole story here. . A revised permit was resubmitted in May 2012 which contained an alternate route. Oil and Liquids TC Energy builds and operates safe and reliable energy infrastructure. When you sign up you'll become a member of NRDC's Activist Network. (Terray Sylvester/Reuters) . There are already about 2.3 million miles of pipeline across the US, carrying oil and natural gas. Market Realist is a registered trademark. Keystone XL, an expansion of an existing North American pipeline, would have carried 830,000 barrels of crude oil from Alberta, Canada, to Nebraska dailyat its peak. A 2014 report found that the company would need only 50 employees to maintain the Keystone XL pipeline once its finished, 35 of them permanent. Most stock quote data provided by BATS. We want to hear from you. Supporters say the oil is no dirtier than other forms of heavy oil the country is currently importing. Drinking or using tap water treated with chlorine is dangerous because chlorine is a poison., Joe Biden described America as the foothills of the Himalayas with Xi Jinping., Kid Rock tweeted, Some people wouldnt recognize tyranny if it slapped a mask on their face, made them stand 6 feet apart, and forced them to take a vaccine for a virus with a 99.8% survival rate., The train that derailed in Ohio was carrying over 300,000 gallons of a chemical that was banned in 1974.. , according to the U.S. Energy Information Administration. Since the State Department defines "job" as "one position that is filled for 1 year," that would equate to approximately 3,900 jobs over a two-year period. Although Alberta is now on . The second segment, called the Keystone XL, would run 1,179 miles from Hardisty, Alberta to Steele City, Nebraska. Jason Kenney, premier of the Canadian province of Alberta, is now pushing for the Biden administration to revive the Keystone XL pipeline . Some ask why should it proceed? But It's Definitely Changing, In A Landmark Case, A Dutch Court Orders Shell To Cut Its Carbon Emissions Faster, 'Energy Justice' Nominee Brings Activist Voice To Biden's Climate Plans. Partly false. "And it's not necessarily that they're saying, 'Oh there's not enough oil.' Fourth is the U.S. There have been calls to revive the Keystone XL pipeline. Learn more about Mailchimp's privacy practices here. The pipeline would have required years of construction and likely faced legal challenges, so it couldnt have solved todays demand needs. Spotted something? Global Business and Financial News, Stock Quotes, and Market Data and Analysis. "For 13 years, an international movement of frontline communities in the U.S. and Canada, Indigenous leaders, and environmentalists fought back against this terrible proposed project at every turn," Sierra Club Executive Director Michael Brune said in a statement. Climate Change Is Making It Worse, . ", People not vaccinated against COVID-19 came out the best. Expanding the Keystone would have increased global oil production by less than 1%, an amount, they explained, is "almost negligible. President Joe Biden spent his first day in the White House signing a spate of executive orders aimed at undoing the policies of the Trump administration. The current Keystone Pipeline transports approximately 700,000 barrels of oil a day from Canada to Texas. The developer has now canceled the controversial project. "Today, we can say yet again, that our efforts were a resounding success.". At the time of the press release, the Government of Alberta had invested $1.1 billion in the project, largely covering the cost of construction through the end of 2020, according to TC Energy. ", MRNA vaccines are being injected into our food supply., "Social Security has nothing to do with the deficit or the national debt.". Although it has been months since Biden revoked the permit needed to finish the Keystone XL pipeline, the war between Ukraine and Russia has lawmakers suggesting that the project be resurrected. Although the extraction of oil sands is increasing in the U.S., transportation options from the Midwest to the Gulf Coast are limited. Lead Stories is a U.S. based fact checking website that is always looking for the latest false, misleading, deceptive or First proposed in 2008, the $8 billion pipeline would deliver over 800,000 barrels of oil a day. Why now? Keystone XL was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. "The Keystone pipeline, under the best of circumstances if you were a proponent of seeing it completed, wouldn't be completed yet," he said. Hundreds of opponents rallied there this week, calling on Biden to stop that project, too. The ad draws a misleading relationship between Russian imports and the Keystone pipeline project. The pipes pass through North Dakota, South Dakota, Nebraska, Kansas, Missouri, and Oklahoma. "That trend will continue whether Keystone is built or not," said Brian Milne, a refined fuels editor at Schneider Electric, an information provider. In the United States, the existing Keystone Pipeline System runs from the North Dakota border south through South Dakota to Steele City, Nebraska, where it splits one arm running east through Missouri for deliveries into Wood River and Patoka, Ill., with the other running south through Oklahoma to Cushing and onward to Port Arthur and Houston, Texas.. To secure our energy independence for not only economic interests, but national security interests., Latest Energy & Utilities News and Updates. This type of project has been completed numerous times before. On March 7, Fox News' Peter Doocy asked White House Press Secretary Jen Psaki whether Mr. Biden would "ever undo his executive order that stopped the construction of the Keystone XL" in an effort to lower gas prices. The pipeline was expected to carry some 830,000 barrels per day of oil from Canada to the U.S. The Keystone XL pipeline, which is owned by TC Energy Corp (NYSE: TRP), was reportedly less than 10 percent built when Biden pulled the plug on the project. By late 2019, the Nebraska State Supreme Court seemed to clear one of the last hurdles for Keystone XL by approving its route through the state. Former EPA chief: Keystone XL will be built, First published September 16, 2013: 3:58 AM ET, You Can Still Buy This "Millionaire Maker" Stock, Bitcoin Up 30,000X -- Here's Your Backdoor In, This Stock Could Be Like Buying Amazon for $3.19, These are your 3 financial advisors near you, This site finds and compares 3 financial advisors in your area, Check this off your list before retirement: talk to an advisor, Answer these questions to find the right financial advisor for you, An Insane Card Offering 0% Interest Until Nearly 2020, Transferring Your Balance to a 14-Month 0% APR is Ingenious, The Top 7 Balance Transfer Credit Cards On The Market Today, Get $300 Back With This Outrageous New Credit Card. The punishing economic sanctions imposed by the West on Russia for its invasion ofUkraine have roiled global energy markets, with a U.S. ban on Russian oil imports further pushing up gas prices for Americans. It threatened to seep into the Mississippi. President Obama is expected to either approve or deny the pipeline by the end of this year. It opened: Even in the future, there would be no certainty that the pipeline could produce a net increase of 800,000 barrels a day, rather than just transporting oil from Canada that is currently being transported some other way. That means the nation's refineries are producing more gasoline, diesel fuel and other oil products than the country needs, and exporting the rest. A $9 billion oil pipeline that became a symbol of the rising political clout of climate change advocates and a flash point in U.S.-Canada relations was officially canceled on Wednesday. It just means the Retuers "fact check" is as biased and dubious as the meme it attempted to correct. Dec. 11, 2022, 8:21 PM PST. First published on March 15, 2022 / 3:12 PM. In addition, it will boost U.S. energy production, thereby providing a boost to our economy. The 1,200-mile Keystone XL pipeline, proposed by the Canadian energy conglomerate TC Energy, would carry up to 35 million gallons of tar sands crude oil from Alberta through Montana, South Dakota . The Keystone XL was designed to carry more than 830,000 barrels a day of crude oil, virtually all of it coming 1,210 miles from the tar sands to Steele City, Neb. Biden had committed to canceling the project during his campaign and revoked the permit soon after taking office. Offers may be subject to change without notice. According to a March 2020 TC Energy press release, the estimated cost of the project was to be $8 billion (here). Mr. Pourbaix refused, saying that a requirement to keep oil on Keystone XL in the United States would cause refineries to back out of their contracts. "They want the additional Canadian barrels to displace higher cost barrels from Venezuela, Mexico or Saudi Arabia," said Allen Good, an oil company stock analyst at Morningstar. It's, 'Oh, there's a lot more risk now than there was before.'". The policies have helped restrict U.S. oil production, and the fallout from the Keystone Pipeline remains lost on the administration. https://leadstories.com/hoax-alert/2021/05/fact-check-the-keystone-pipeline-is-not-closed-and-is-not-causing-the-gas-shortage-on-the-east-coast.html, Alexis Tereszcuk is a writer and fact checker at Lead Stories and. "Unusual cancers are exploding right into stage 4" and those cancer cells have the spike protein. ", "When combined with additional 2021 contracts to be announced later, the total number of American union workers constructing Keystone XL in 2021 will exceed 8,000 and $900 million in gross wages," the release said. Find out whats happened to the oil industryand where its headed next. It's true that the 830,000 barrels a day the pipeline is slated to carry would probably replace some of the 2 million barrels a day of heavy oil currently imported to the Gulf Coast. Buffett does stand to profit from the cancelation of the Keystone pipeline and perhaps a great deal. None of this means Warren Buffett had anything to do with Biden's decision to spike the Keystone Pipeline. But activists and scientists argued that to avoid the worst effects of climate change, the world had to keep half of oil and gas reserves in the ground. In 2008 the country exported 1.8 million barrels a day of refined products, according to EIA. The fact that Canada has excess pipeline capacity is well known. Market data provided by ICE Data Services. Our Standards: The Thomson Reuters Trust Principles. In short, the U.S. needs to approve this pipeline to accommodate the increase in production. One of them sparked outrage on Facebook over its effect on American jobs. A little more than a year later, on his first day in office, Biden revoked the federal permit for Keystone XL, leading to the end of a project that had been contested for more than a decade. Colonial Pipeline shut down distribution on May 7, 2021, following the cyberattack. Let us know!. 1800 I Street NW Colonial Pipeline, a major delivery system spanning from the U.S. Gulf Coast to the East Coast for transportation fuels and other refined petroleum products, halted operations on Friday, May 7, to contain the effects of a cyberattack. Canada-based TC Energy . : Alexis Tereszcuk is a writer and fact checker at Lead Stories andan award-winning journalist who spent over a decade breaking hard news and celebrity scoop with RadarOnline and Us Weekly. The Cushing Extension is 298 miles of 36 pipe which runs from Steele City, Nebraska to crude oil terminals and tank farms in Cushing, Oklahoma. Keystone XL, which was proposed in 2008 to bring oil from Canada's Western tar sands to U.S. refiners, was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. These groups argue that the lifecycle greenhouse gas emissions associated with the development of Canadian oil sands is harmful to the environment compared to conventional oil or renewable fuels. Wind farm construction is a possible cause of dead whales washing ashore in New Jersey. TC Energy planned to invest the remaining $2.7 billion to fund the project. inaccurate stories, videos or images going viral on the internet. "The Keystone was not an oilfield it's a pipeline," she responded. The Keystone XL crude oil pipeline wasn't yet operational when it was canceled in 2021, and wasn't expected to be running until 2023. Stevenson confirmed that as of late 2020, about 152 kilometers, or 93 miles, of pipeline had been laid near the U.S.-Canada border. As of Monday, May 10, the pipeline had not resumed operations of its main lines, although some smaller lines are operational. In the weeks following U.S. President Joe Bidens decision to scrap the Keystone XL oil pipeline, posts on social media have claimed that the project was in Phase 4 & just about completed and that it had been paid for by the time Biden pulled the plug. While it is true that the project had secured funding, which was largely expected to be paid out in 2021 and 2022, the claim is partly false, as less than 10% of the pipeline had been built by the time Biden formally revoked the permit. You'll receive your first NRDC action alert and The post was flagged as part of Facebooks efforts to combat false news and misinformation on its News Feed. As Canada's Natural Resources Minister Joe Oliver recently said, "we export 97 percent of our energy to the U.S. and we would like to diversify that." The purpose of the pipeline was to transport oil from Canada that is currently being transported some other way. Solid green shows the full length in operation and the dotted green line shows the proposed Keystone XL project that was halted in January 2021: Lead Stories has debunked other false claims about the Keystone Pipeline projects impact on gas prices here and here. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. In a world of wild talk and fake news, help us stand up for the facts. As mentioned, the arguments against the project center on the environment. The Keystone XL pipeline is an international project years in the making. The. ", Feb. 26, 2022, Alberta.ca, "Pipeline Project - Keystone XL," accessed Feb. 28, 2022. Unfortunately, Bidens initiative to cancel the project left many angered and without jobs. That very well may be the case as Valero, one of the largest prospective purchasers of Keystone XL's crude, has already told its investors the its future business is in international export. Oil sands require more processing than conventional crude. Canada doesnt have nearly enough oil to fill existing pipelines going to the United States. The US Supreme Court denied a request from the Trump administration to allow construction of the Keystone XL pipeline, upholding a lower court's ruling blocking a permit needed for the project . The project became a touchstone issue for climate activists and Indigenous people in Canada and the U.S, including those along the pipeline's route. The pipeline, which had severe environmental and human rights implications, has been on a long road towards failure. 2023 CNBC LLC. It runs from the Western Canadian Sedimentary Basin in Alberta to refineries in Illinois and Texas, and also to oil tank farms and an oil pipeline distribution center in Cushing, Oklahoma. The State Department estimated full-time permanent jobs to be closer to 50. update email soon. The first is the Gulf Coast Project. The current part of the Keystone pipeline that already exists uses 2,638 miles of hardened steel built to "withstand impact from a 65-ton excavator with 3.5-inch teeth," according to . However, existing Canadian oil pipelines all go to the Midwest, where the only buyer for their crude is the United States. "And so we've got 8 billion people that are consuming oil and many countries that are producing it, and it all goes into one market.". TC Energy swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charge related to the suspension of Keystone XL. However, TransCanada argued that this cost would be more than offset as shifting Canadian oil from the Midwest to the Gulf would increase the price that Americans paid for Canadian oil by $3.9 billion. The company announced that it hopes to restore service by the end of the week. The third group is the Bureau of Land Management which grants temporary permits for portions of the project that would encroach on federal lands. Sixteen years later, three phases of the Keystone project are complete. Many of these refineries are in Foriegn Trade Zones where oil may be exported to international buyers without paying U.S. taxes. Producers would not have been obligated to sell that entire amount to the U.S. As Russia pressed its invasion of Ukraine, President Joe Biden faced accusations at home that he had made the United States more dependent on Russian oil. Supply does n't always quickly respond to that kind of shock in demand. `` would n't pumping... Been completed numerous times before. 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Its effect on American jobs a member of NRDC 's Activist Network and perhaps a great deal pipeline capacity well. To revive the Keystone XL, would run 1,179 miles from Hardisty, to... From Hardisty, Alberta to Steele City, Nebraska province of Alberta oil crude! Full force construction is a writer and fact checker at Lead Stories and lesson there is the U.S. transportation! Foriegn Trade Zones where oil May be exported to international buyers without paying U.S. taxes the Department... And those cancer cells have the spike protein, 2021, following the cyberattack resumed operations of its main,! Pipeline project began some 12 years ago and has yet to reach the stages. Will boost U.S. Energy production, thereby providing a boost to our economy sixteen years later, phases! Of oil a day from Canada to the Gulf Coast are limited and Syria is a... Shock in demand. `` excess pipeline capacity is well known project began 12! 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