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KEYSTONE XL CONTROVERSY

Keystone XL Controversy

Study Released October 19, 2011

Commodity Report - Crude Oil - August 2011

On July 26, 2011, the US House of Representatives approved a bill that sets a November 1, 2011 deadline for the US administration to decide on TransCanada’s application for a cross-border permit for its proposed Keystone XL pipeline project. The Keystone XL pipeline proposal has been one of the primary focuses of the North American energy industry and the environmental community. On one hand, proponents point out that increased crude volumes via the Keystone XL pipeline could reduce the US dependence on oil imports from less reliable foreign sources and provide economic benefits, such as job creation or preservation. On the other hand, the opponents, primarily environmental groups and affected communities along the route, object on the grounds that the project supports “dirty” Canadian oil sands development, potentially poses an environmental risk to groundwater, and promotes continued US dependence on hydrocarbons.....Download full report.

August 2011