Business · January 21, 2021

President Biden Halts the Keystone Pipeline

(STL.News) Keystone XL is the proposed fourth phase of the Keystone Pipeline network between Canada and the US, aiming to cut short the distance between Alberta’s oil sands and the Texas Gulf Coast.

There is much controversy about the pipeline.  What is it designed for, and how does it benefit America?

The system connects Texas refineries with oil drilling operations.  Once the oil is discovered, it has to be transported to refineries to produce the multiple products derived by the refining process.  This pipeline project is owned by TC Energy and the Government of Alberta.  The pipeline has become political as certain people attempt to block and enforce climate change.  However, the oil has to get to the refineries. Either track, trains, or a pipeline system has to move the oil from the wells to the refinery.  While it appears that pipeline is the best and most cost-effective to transport oil, in addition to creating jobs, it has been halted, possibly creating more emissions to move the oil to refineries by truck or rail.  The oil industry will get the oil from the wells to the refineries, one way or the other.  The higher the cost to transport the oil, the more expensive the products will cost consumers.  Many experts agree that business changes need to happen; it is vital to make sure the cart remains behind the horse to create more problems or raise the cost of goods.

Wikipedia page – Keystone Pipeline

TC Energy Statement

YouTube video provided courtesy of WION News