The Keystone XL Pipeline is on President-Elect Donald Trump’s agenda for his first 100 days in office.
This news has many people hopeful that the Keystone XL will finally get the go-ahead. Doing so will go a long way towards reviving Alberta’s oil & gas industry, and Canada’s economy as a whole.
See Trump’s 100-Day Plan Memo Here:
The Keystone XL Pipeline has been on the negotiation table for a long 8 years. Most pipeline projects get approved and built in a fraction of that time. The Keystone XL Pipeline is special in the sense that it will unite Canada and America through this large, job creating project. This pipeline will not only create construction (short-term) jobs, but will also facilitate long term operation positions in both the US and Canada. It will also give the Alberta Oil Sands a dependable and international marketplace; thus improving the Canadian economy.
In November 2015, US President Barack Obama went against the United States Senate and the House of Representatives approval by vetoing the bill that would have approved the pipeline. A year later, US President-Elect, Donald Trump is ready for the Oval Office and the Trump Administration is expected to give this pipeline project the green light.
Facts About the Keystone XL Pipeline:
- The Keystone XL Pipeline is a proposed oil supply line to U.S. Gulf Coast refineries.
- Refineries have signed binding commercial contracts to receive oil through Keystone XL.
- The Keystone XL pipeline extension was proposed for development in 2008.
- Phase I, Phase II, and Phase III of the Keystone Pipeline System are already operational.
- Phase IV, called Keystone XL, failed to receive necessary permits from the United States federal government in 2015.
- Keystone XL would have a capacity of over 800,000 barrels of Canadian and Bakken oil per day. Transported to U.S. refineries this oil would be meant for consumer products and fuel.
- The pipeline is to run 329 miles (529 km) in Canada (from Hardisty, Alberta to Monchy, Saskatchewan.)
- The pipeline is to run 840 miles (1,351 km) in the United States (from Morgan, Montana to Steele City, Nebraska.)
- Keystone XL would be a 36-inch diameter pipeline.
- The Keystone XL Pipeline is to be built by TransCanada (http://www.keystone-xl.com/kxl-101/faqs/)
- TransCanada is the sole owner of the Keystone Pipeline System.