The Keystone XL Pipeline, with its complicated past, may have a future in the US
WASHINGTON (TNND) — President Donald Trump said he wants to bring back the Keystone XL pipeline, a 1,200 mile project designed to transport oil from Canada to Nebraska, with the potential to carry 830,000 barrels of oil each day.
Its permit was first rejected in 2015 under President Obama, then revived under President Trump.
While construction started, it abruptly ended when President Joe Biden took office four years ago.
For years, environmental activists warned of the consequences, especially following more than a dozen leaks from the Keystone Pipeline system that resulted in major harm to the environment.
Still, in a post on Truth Social Monday night.,” Trump wrote,
“Our Country’s doing really well, and today, I was just thinking, that the company building the Keystone XL Pipeline that was viciously jettisoned by the incompetent Biden Administration should come back to America, and get it built — NOW! I know they were treated very badly by Sleepy Joe Biden, but the Trump Administration is very different — Easy approvals, almost immediate start! If not them, perhaps another Pipeline Company. We want the Keystone XL Pipeline built!”
It followed multiple promises both on the campaign trail and since returning to office to “drill baby drill.”
Another priority for the President is to lower energy prices.
In an interview with Sinclair last week , U.S. Energy Secretary Chris Wright talked about that effort.
“The only way to get prices down is to grow supply and so we are doing everything we can to get barriers out of the way and encourage companies to invest and grow supply,” he said
“So this President is trying to get barriers out of the way to build infrastructure and not just increase production of energy, but allow it to move to consumers more efficiently and more cheaply.”
Full Measure’s Scott Thuman recently toured Chevron’s newest oil and gas drilling platform called “Anchor,” which is said to be helping to deliver more oil and gas straight from the newly named “Gulf of America” previously known as the Gulf of Mexico”
Bruce Niemeyer, President of Americas Exploration & Production for Chevron told Full Measure, “We are increasing production 50% between last year and what we will see next year.
” It is a big number,” he added, “It reflects the potential and the opportunity that is there. It is there for our company and by extension, therefore the industry and for the nation
But there is no indication the pipeline would have any impact on price at the pump.
Several studies on the Keystone Pipeline, including one conducted during Trump’s first term found gasoline prices are “driven by international rather than U.S.. crude oil prices” and therefore would be “essentially be the same.”