The cost of Keystone’s delay: $175 billion

posted at 6:01 pm on July 27, 2015 by Matt Vespa

The Keystone XL pipeline is an issue that Democrats are going to have to deal with sooner rather than later. Hillary Clinton has repeatedly dipped, ducked, dived, and dodged questions about her position on the project to the ire of the environmental left. In January of 2014, the State Department concluded that the construction of the pipeline “would not substantially worsen carbon pollution,” according to the New York Times. Still, the president vetoed legislation to get the project moving in February. Right now, the project is being reviewed (again) by State to determine if it is within our national interests. In the meantime, the seven-year delay on Keystone has cost us an estimated $175 billion in lost economic activity, according to American Action Forum:

The Keystone XL pipeline has the potential to bring huge gains to the United States, including energy independence, increased security and jobs. The $8 billion, 1,179 mile line, to be operated by Canadian firm TransCanada, would run from Montana to Nebraska and deliver an estimated 830,000 barrels a day of crude to refineries located along the gulf coast. At today’s price of crude at $51.76, this would gross over $42 million dollars a day or roughly $15 billion per year.

TransCanada has waited since September 2008 for authorization of the pipeline. With crude oil prices at a 10 year low, approximately $175 billion in economic activity has been unrealized due to the delay.

The U.S. would benefit significantly from increased oil imports from Canada as it would lessen our reliance on imports from more unstable areas of the world such as the Middle East, Russia and Venezuela.

According to the Energy Information Agency, the U.S. imported approximately 9 million barrels per day of petroleum in 2014 from 80 countries with the bulk of its oil imports from Canada, Mexico, Saudi Arabia, Venezuela and Russia.

Since 2009, the U.S. has paid over $1 trillion to these top five countries with just over half of it going to Russia, Venezuela and Saudi Arabia.

Kimberley WanWyhe, director of energy policy for AAF who conducted the analysis, also wrote that the pipeline could “gross over $15 billion in revenue a year.” Alas, it seems the Obama administration has decided it was more important to keep these people happy:

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Carbon pollution.

The primary building block of all life on earth is now a pollutant. Maybe they should tell the Creator.

(Nah, He doesn’t give anybody campaign contributions, so nobody in this administration cares about what HE thinks…)

Dolce Far Niente on July 27, 2015 at 6:07 PM

Ppffftttt…

$175 billion?

That is a good bit less than 10% of the current national debt.

A mere drop in the bucket. A pittance.

When it gets to the level of real money…

…start printing that sh*t like is was Weimar.

Problem solved.

coldwarrior on July 27, 2015 at 6:08 PM

No worries, Gang-green will happily pick up the tab for their policy failure.

antipc on July 27, 2015 at 6:08 PM

The worlds largest lie ever Climate Change.

The fraud to far.

The tax and spending to end it all.

The truth only a finger tip away.

http://www.wattsupwiththat.com/

APACHEWHOKNOWS on July 27, 2015 at 6:12 PM

CO2 is a plant food..

Lies kill.

Truth is life.

Seek truth or die America.

APACHEWHOKNOWS on July 27, 2015 at 6:14 PM

Export oil, drive the mullahs out of buss. break them now when it is easy.

Make the Saudis stop exporting their hate to U S with our own oil payments to them.

APACHEWHOKNOWS on July 27, 2015 at 6:17 PM

the pipeline could “gross over $15 billion in revenue a year

15 billion more for Obama to redistribute.

Oxymoron on July 27, 2015 at 6:18 PM

I got through :13 of that video….

As soon as I shower, I gotta make a doctor’s appointment….

Fathom on July 27, 2015 at 6:19 PM

Mr Ed (MSNBC) and guest railed at HRC for her “no comment” on this.
Called her excuse that she was SoS (conflict of interest) BS.
Both said she has not the first clue one about what the base wants.
Both said “Not trustworthy”. (everything is a conflict of interest)

Called it falling in line behind her Wall St and Big Money Donors.

So, firebrand Big D loyalists say on MSNBC that Hillary is bought and paid for by the bad guys.

Good.

Blocking keystone contradicts common sense, smart policy.
Perfect point for Mr Trump. “This is an example of the general stupidity I have been talking about..jobs… money…the pols all fight it. Stupid.
This oil is freedom from being blackmailed by middle east thugs”.

Easy.

PaleoRider on July 27, 2015 at 6:22 PM

but if it saves the life of one tundra lizard then it was worth it….or something

Ditkaca on July 27, 2015 at 6:25 PM

Yes but Obama supported Warren Buffet has made beaucoup $$$$$$$$$$$

VorDaj on July 27, 2015 at 6:26 PM

Own it dems

No one to blame but dear leader

cmsinaz on July 27, 2015 at 6:29 PM

Some retro-active abortion needed in that group. I’d like to say it another way though.

Judge_Dredd on July 27, 2015 at 6:33 PM

https://www.tedcruz.org

The best way to piss off the pathetic gop leadership.

PappyD61 on July 27, 2015 at 6:39 PM

The Keystone XL pipeline is an issue that Democrats are going to have to deal with sooner rather than later.

LOL! That got a hearty laugh out of me. I hate to break it to you, but ‘sooner’ died of old age long ago, and later will never arrive. There’s only ‘never’ with the Dems on issues they want to avoid.

xNavigator on July 27, 2015 at 6:46 PM

Judge_Dredd on July 27, 2015 at 6:33 PM

I think our friend Schadenfreude says, “They were born too soon.”

Bmore on July 27, 2015 at 6:51 PM

But, but… WIND! There are just too damned many raptors and migratory birds!

vnvet on July 27, 2015 at 6:54 PM

Yeah, but can you really put a price on Obama placating eco voters?

ChrisL on July 27, 2015 at 6:57 PM

CNN Wolf and folks chatting about Biden running, because Hillary sucks.

Mathews on now, hyped about Trump.
For real.

Keep the faith, people.

OT:

http://www.city-journal.org/2015/25_3_state-gop.html
The State GOP Wave

The victories continued a remarkable state winning streak for Republicans since Barack Obama became president. Pundits initially described the 2008 election as a major leftward shift in American politics…
But voters almost immediately began electing Republican lawmakers who rejected Obama’s call for bigger government and higher taxes. ..

Today, Republican governors rule in 31 states, and the party has gained nearly 900 state legislative seats, giving it control of 30 state legislatures; Democrats hold the majority in 11, with eight split, and one (Nebraska’s) unicameral and officially nonpartisan…

That leaves the Republican Party with an array of highly visible elected officials in states likely to decide the 2016 presidential election. Further, if the GOP maintains momentum through the next election cycle, it will control a majority of state governments during the upcoming redistricting process, which will determine the election map for Congress and state legislatures throughout the 2020s.

PaleoRider on July 27, 2015 at 7:03 PM

In their defense, (D)s seem to lack the ability to grasp how much money that is or what it means.

rogerb on July 27, 2015 at 7:05 PM

MS: There’s never going to be any inspections. All the component parts of it – they get to provide their own samples, they get to string things out for just short of a month if they don’t want to be inspected… The Keystone Pipeline from Canada has been subjected to a greater inspections regime than Iran’s nuclear program will ever be subjected to, because Obama cares more about stopping Canada getting its pipeline than Iran getting the bomb. That’s the reality.

Mark Steyn

Cleombrotus on July 27, 2015 at 7:16 PM

OT Iran
evidence Mark Steyn is correct, again.

Obama’s secret Iran deals exposed
https://www.washingtonpost.com/opinions/obamas-secret-iran-deals-exposed/2015/07/27/26d14dbc-3460-11e5-8e66-07b4603ec92a_story.html

In an interview, Pompeo (Rep. Mike Pompeo (R-Kan.)) told me that he and Cotton were meeting with the deputy director of the IAEA and the agency’s two top Iran negotiators just days after the nuclear accord was announced, when they asked how the agency will carry out verification at the Iranian military complex at Parchin. IAEA officials told them, quite casually, that the details were all covered in agreements negotiated between the IAEA and the Iranian government. It was the first they had heard of the side deals.

Pompeo says they asked whether they could see those agreements. He says IAEA officials replied, “ ‘Oh no, of course not, no, you’re not going to get to see those.’ And so everybody on our side of the table asked, ‘Has Secretary Kerry seen these?’ ‘No, Secretary Kerry hasn’t seen them. No American is ever going to get to see them.’ ”

PaleoRider on July 27, 2015 at 7:22 PM

I think our friend Schadenfreude says, “They were born too soon.”

Bmore on July 27, 2015 at 6:51 PM

I would have suspected “Burn in Hades, you thugs of the land!”
but I guess to be a thug means being able to throw a punch.

Judge_Dredd on July 27, 2015 at 7:31 PM

but if it saves the life of one tundra lizard then it was worth it….or something

Ditkaca on July 27, 2015 at 6:25 PM

Not to mention the great snow tortoise.

No, better to send that crude to China. You know how clean the refineries are over there. Anyway, it’s not like the air pollution will get into OUR atmosphere or anything.

Stupidity on Parade. Year after painful year.

JusDreamin on July 27, 2015 at 7:41 PM

I wonder if this $175 billion would help pay for all the oil spill disasters that originate from the RAILROADS?

Missilengr on July 27, 2015 at 7:43 PM

King Putt will go down (and take us with him) in history as the Quisling Chamberlin Mugabe Lenin.

The beginning of the end of the Shining City on the Hill, the hope of all mankind.

We are living history, yes we are.
The ending will not be pretty. No sir, it will not.

HILLARY->2016 !! And we get Bill too! Craptastic!

Stupid Americans

Missilengr on July 27, 2015 at 7:52 PM

Yeah, but can you really put a price on Obama placating eco voters?

ChrisL on July 27, 2015 at 6:57 PM

Obama is placating nobody. It just so happens his agenda to equally distribute misery coincides with their idiocy.

Judge_Dredd on July 27, 2015 at 7:54 PM