The House Small Business Subcommittee on Agriculture, Energy and Trade, led by Chairman Scott Tipton (R-CO), today held a hearing appraising the benefits that many small businesses would reap from construction of the Keystone XL Pipeline.
The Committee heard about the economic benefits that will be available to small businesses from both the construction -- and the long-term operation -- of the Keystone XL Pipeline. In testimony, witnesses discussed how the pipeline would enhance our nation's energy security, expand economic and job growth, and lower energy prices for Americans. According to a 2012 study by the NFIB, the "Cost of Natural Gas, Propane, Gasoline, Diesel, Fuel Oil" ranks as the third highest concern among small business owners.
Additionally, the pipeline's construction would be a boon to many rural communities spanning the western United States along the northern and southern routes from Canada to the Gulf of Mexico, bringing in local commercial activity and creating opportunities in fields that include numerous small business contractors. The project would boost the demand for various skilled labor occupations, and create an estimated 42,100 jobs.
"This hearing provided convincing testimony that this vital project is truly a keystone on which we can continue building our national prosperity," said Chairman Tipton. "At a time when we should be focusing on economic growth and energy security, moving forward with this project is simply common sense. We have a rare opportunity to create thousands of jobs immediately, many through small businesses, and do so in a responsible way."