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Keystone Bill Will Create Jobs, Cheaper Energy

Press Release

By:
Date:
Location: Washington, DC

Today, U.S. Senator Kay Bailey Hutchison (R-TX) joined eleven Senate colleagues to support the Lugar-Hoeven-Vitter Keystone XL legislation that would force the Obama Administration to issue a construction permit for the Keystone XL pipeline within 60 days after the bill's passage.

"We have spent billions in this country on "stimulus' packages that have not stimulated employment," said Sen. Hutchison. "With the Keystone Pipeline we have a private, non-taxpayer entity that will create 100,000 jobs and produce cheaper energy for families and small businesses in our country. What's not to like about that? I am so proud that Congress is taking the initiative and saying to the President, "Do this now, you can get this pipeline going.'"

To watch the video, click here.

The bill would:

 Create Jobs. Create 20,000 direct jobs in building the pipeline and manufacturing.
 Strengthen National Security. Reduce need for foreign oil from volatile regions by increasing secure trade with Canada and encouraging production in the U.S. Bakken area.
 Promote economic growth. Boost more than 1,400 U.S. companies that directly sell their products and services for oil sands production and transport.

The $7 billion pipeline cost to be paid by the Keystone XL consortium will fund nearly half a billion dollars in salaries and purchase $6.5 billion worth of materials, services, and other local economic activity. Over time, strengthening U.S.-Canada oil sands energy cooperation can create hundreds of thousands of U.S. jobs. Trade with Canada will accelerate America's independence from overseas oil and will maximize benefits to complement increased U.S. domestic oil production, usage of more alternative fuels, and vehicle innovation to save fuel and dollars at the gas pump.

Lugar-Hoeven-Vitter KXL legislation
* Establishes Congressional affirmation that Keystone XL is good for job creation, economic growth, and national security.
* Requires the Secretary of State to issue a permit within 60 days to allow the Keystone XL project to move ahead, unless the President publicly determines that it is not in the national interest.
* Requires the permit for Keystone XL to contain strong and specific environmental protections and protect states' rights.
* Requires the Federal permit to recognize an alternative route approved by Nebraska, protecting their ability to shift the route of the pipeline to avoid the Sand Hills while not holding up construction elsewhere.
* Concludes more than three years of Federal review by deeming the Final Environmental Impact Statement to be adequate.

Keystone XL Background
The proposed 1,700 mile Keystone XL pipeline would transport 700,000 barrels of oil per day from Canada and the U.S. Bakken region to U.S. refineries. Canada's oil sands are among the largest oil reserves in the world. As global demand for oil surges and Canada increases production, the addition of the Keystone XL pipeline will ensure that Americans benefit from reliable and secure oil from our largest trading partner.

Despite having spent a record three years reviewing the Keystone XL permit, including two comprehensive environmental evaluations, the Obama Administration recently deferred a decision on the permit until after the 2012 election. The Lugar-Hoeven-Vitter KXL bill will spur job creation quickly - not wait until after the election - and reduce America's dependence on oil from volatile regions.


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