Keystone XL would be Canadas first step in diversifying its energy market. "They want the additional Canadian barrels to displace higher cost barrels from Venezuela, Mexico or Saudi Arabia," said Allen Good, an oil company stock analyst at Morningstar. Fish & Wildlife Service. Lead Stories is a U.S. based fact checking website that is always looking for the latest false, misleading, deceptive or Expanding the Keystone would have increased global oil production by less than 1%, an amount, they explained, is "almost negligible. The operator of the Keystone Pipeline System, which carries a form of crude oil from Canada to multiple states for refining, said over the weekend . A Division of NBCUniversal. Ive also heard opponents say that the project will not create very many high-quality or long-lasting jobs. Spotted something? I cover the intersection of economics, politics and personal finance. No, that's not true. In the ad, which began running on Facebook and Instagram on Feb. 25, the day after the invasion, LaTurner stated: "President Biden canceled the Keystone XL Pipeline on his first day in office. The portion of the Keystone Pipeline System that's already built runs from the North Dakota border south through South Dakota to Steele City, Nebraska, where it splits. Part of the pipeline runs east through Missouri while the other part runs through Oklahoma and into Texas. Although Alberta is now on . The project must also be in the national interest of the United States. President Joe Biden spent his first day in the White House signing a spate of executive orders aimed at undoing the policies of the Trump administration. TC Energy planned to invest the remaining $2.7 billion to fund the project. In this article, I will dispel the myths and rumors and discuss only the facts. Updated on: March 17, 2022 / 11:57 AM The 1,700-mile (2,735-kilometer) pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast, passing through Montana, South Dakota, Nebraska, Kansas and Oklahoma. Part of TransCanada's Keystone XL pipeline under construction in Atoka, Oklahoma. Fiery train crash in Greece kills dozens, many of them students, Ex-Georgia star Jalen Carter was racing in deadly crash, arrest warrants allege, Watch Live: Garland testifies amid ongoing special counsel investigations. The Keystone XL pipeline was designed to transport oil to the Gulf Coast because refineries in the region are already equipped to process heavier crude oils, like those found in Canada's Alberta . The pipeline, which had severe environmental and human rights implications, has been on a long road towards failure. However, TransCanada argued that this cost would be more than offset as shifting Canadian oil from the Midwest to the Gulf would increase the price that Americans paid for Canadian oil by $3.9 billion. The Keystone XL pipeline was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska. Both of these forms can be transported by pipeline. Recent estimates are that the project itself will create about 43,000 permanent jobs. Now for the issue that has polarized America. As the Entertainment Editor, she investigated Hollywood stories and conducted interviews with A-list celebrities and reality stars. "It wouldn't be online and wouldn't be pumping oil until the year 2023. The Keystone XL pipeline was expected to act as an extension to this larger system that would run 1,210 miles from Hardisty, Alberta to Nebraska.. In October, TC Energy awarded contracts to six American union contractors to build the Keystone XL pipeline in three states in 2021. TC Energy swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charge related to the suspension of Keystone XL. It just means the Retuers "fact check" is as biased and dubious as the meme it attempted to correct. "And it's not necessarily that they're saying, 'Oh there's not enough oil.' Read more about our work to fact-check social media posts here . This portion would transport oil over 435 miles through 36" pipe running from Cushing, Oklahoma to Port. From Canada's perspective, the problem with existing pipelines is they all end in the U.S. Midwest and only allow one buyer - the United States. St. Petersburg, FL In 2008 the country exported 1.8 million barrels a day of refined products, according to EIA. Keystone XL, which was proposed in 2008 to bring oil from Canada's Western tar sands to U.S. refiners, was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. The Keystone XL pipeline would then connect to existing pipelines and transport oil to refineries along the Gulf Coast. All times are ET. The Keystone XL pipeline would have been a new way for one Canadian energy firm to ship oil to the United States. Gasoline is actually one of the nation's largest exports, going mostly to Latin America. The Keystone XL pipeline is a 1,200 mile pipeline that will safely deliver crude oil from Canada and North Dakota to the United States. Specifically, the original pipeline route would have passed through an environmentally sensitive area of Nebraska known as the Sand Hills region. This amount makes up 3% of U.S. crude oil imports and about 1% of the crude oil processed in U.S. refineries. an award-winning journalist who spent over a decade breaking hard news and celebrity scoop with RadarOnline and Us Weekly. Even in the future, there would be no certainty that the pipeline could produce a net increase of 800,000 barrels a day. The Keystone XL pipeline is an international project years in the making. The developer of the Keystone XL pipeline announced Wednesday it is pulling the plug on the controversial project after the Biden administration revoked its permit in January.. TC Energy, the . The Keystone XL was designed to carry more than 830,000 barrels a day of crude oil, virtually all of it coming 1,210 miles from the tar sands to Steele City, Neb. Learn more about Mailchimp's privacy practices here. "But there is a recognition that those types of actions may have some impact on the prices that Americans are paying at the pump.". Its shares closed largely flat on the Toronto Stock Exchange. After more than 10 years, the embattled Keystone XL pipeline has officially been abandoned. While many were under the impression that the Keystone XL pipeline was nearly built and ready to operate, it would have served as the fourth phase of the entire Keystone Pipeline System. Proponents also argue that the pipeline will enhance U.S. energy security and help maintain adequate crude oil supplies for U.S. refineries. It is not shut down. The Natural Resources Defense Council works to safeguard the earth - its people, The Keystone XL tar sands pipeline is back in full force. 727-821-9494, The Keystone XL pipeline "would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. It seems as though the polarization of the United States is increasing. Finally, there are multiple state and county agencies which will consider permits for projects that cross navigable waters (including state streams), state highways or work affecting cultural or natural resources. US President Joe Biden has cancelled permits for the controversial Keystone XL pipeline on his first day in office. Extracting the bitumen and diluting for shipment requires energy, most of it from burning fossil fuels. In addition, it will boost U.S. energy production, thereby providing a boost to our economy. But this post could leave the wrong impression without full context. The. It opened: When you can't find gas, remember who executively ordered the Keystone Pipeline to close. For years, the Obama administration faced pressure to approve the project from Canada, the oil and gas industry and its political allies while also getting enormous pushback from environmental and other activists, including major Democratic donors. CNN Sans & 2016 Cable News Network. But they also grapple with the destruction of Alberta's forests and health effects that some researchers say could be linked to the strip mining. It pledged to ensure a safe termination of the project. Environmental activists and indigenous communities hailed the cancellation, and traders and analysts said U.S.-Canada pipelines will have more than enough capacity to handle increasing volumes of crude out of Canada, the primary foreign supplier of oil to the United States (here). A southern leg from Cushing,. The Biden administration has repeatedly pushed back against proposals to revive the pipeline expansion. The 11,000 figure in the Facebook post appears to stem from an Oct. 28, Biden signed an order that revoked the permit, 11-volume State Department report on the Keystone XL pipeline, WRAL partners with PolitiFact NC to fact check political stories, State Department found in its 2014 report, Our ethics policy for PolitiFact journalists. BILLINGS, Mont. On page 90, the report concludes that the United States will import the same amount of crude from Canada through 2030 whether or not Keystone XL is built. A cyberattack halted fuel movement through the Colonial Pipeline, which shifts gas from refineries in Texas to distribution centers on the East Coast, according to the US Energy Information System. Fourth is the U.S. "Clean energy that we harvest here at home and work to figure out a better way to store is going to power us here at home.". "And supply doesn't always quickly respond to that kind of shock in demand.". The third group is the Bureau of Land Management which grants temporary permits for portions of the project that would encroach on federal lands. In 2008 the United States imported 9.8 million barrels of oil a day, according to the Energy Information Administration. In a Department of Energy report evaluating Keystone XL's impacts on U.S. energy supply over the next twenty years, the agency found that it will take decades for Canada to produce enough oil to fill existing pipelines. TC Energy appealed the ruling, but the Supreme Courtupheld itin July. We want to hear from you. Spotted something? Jason Kenney, premier of the Canadian province of Alberta, is now pushing for the Biden administration to revive the Keystone XL pipeline . In a world of wild talk and fake news, help us stand up for the facts. Before we explain Keystone, let me first state that beneath the ground of these United States are thousands upon thousands of miles of existing pipeline transporting natural gas and oil. The ad draws a misleading relationship between Russian imports and the Keystone pipeline project. The petition was made to the U.S. Department of State because it would cross the U.S. border. A $9 billion oil pipeline that became a symbol of the rising political clout of climate change advocates and a flash point in U.S.-Canada relations was officially canceled on Wednesday. The pipeline had been projected to carry oil nearly 1,200 miles (1,900km). This article was produced by the Reuters Fact Check team. Find out whats happened to the oil industryand where its headed next. The. Keystone XL would carry crude derived from Alberta's oil sands. This project would have produced 830,000 barrels of oil per day, more than enough to offset what we import from Russia. The pipeline was expected to stretch from Alberta to Nebraska, allowing 830,000. Simply stated, Keystone XL is a way to get Canadian oil out of the United States, not into it. Keystone XL was halted by owner TC Energy after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. The press release also stated that the remaining $6.9 billion needed for construction was expected to be largely made in 2021 and 2022 and funded through the combination of a US$4.2 billion project level credit facility to be fully guaranteed by the Government of Alberta and a US$2.7 billion investment by TC Energy.. The Keystone Pipeline System stretches 2,687 miles, while Keystone XL was to be 1,210 miles in length. Opponents of the line fought its construction for years, saying it was unnecessary and would hamper the U.S. transition to cleaner fuels. Without support from the U.S. government, its effectively halted. And, we also have the technology to assure that the environment will be protected. "That trend will continue whether Keystone is built or not," said Brian Milne, a refined fuels editor at Schneider Electric, an information provider. All rights reserved. This area has highly porous soil and shallow groundwater. TransCanada conceded that Keystone XL would take oil from existing pipelines, increasing shipping costs. The company reportedly secured $1.1 billion, enough to cover construction through 2020, and expected to receive $4.2 billion in 2021 and 2022. The 11,000 and $2 billion figures cited in the Facebook post are estimates published by the company, but most of the jobs would be temporary. The claim appeared as a post (archived here) published on Facebook on May 10, 2021. Refining analysts say both. inaccurate stories, videos or images going viral on the internet. The leak was. "Stop importing from Russia, start producing more," he tweeted in early March. It was denied. The pipeline will allow the U.S. to substitute Canadian oil for other foreign oil. ", Even if the pipeline was already built, it wouldn't help with the price at the pump, Nemet added, noting that the U.S. has already doubled its oil production over the last 15 years. It would take six to 10 years for oil from a new lease to hit the global market, Kieve said. Keystone XL was designed to transport crude oil from Alberta, Canada, to Steele City, Nebraska, where it would connect with TC Energy's existing facilities, which extend to the Gulf Coast. A storage yard in Montana contains pipe that was to be used in the construction of the Keystone XL oil pipeline. But the Trump administration revived the pipeline in early 2017. The entire system without the XL extension stretches about 2,687 miles in total length. Could the Keystone XL pipeline help lower U.S. gas prices? To review: Keystone XL, a project of the TransCanada Corporation (now TC Energy), was slated to carry oil from Alberta's tar sands across the country to refineries on the Gulf of Mexico. Since it first went into operation in 2010, TC Energy's original Keystone Pipeline System has leaked more than a dozen times; one incident in North Dakota sent a 60-foot, 21,000-gallon geyser. With inflation soaring, gas prices have been increasing for months hitting an average of$4.33 a gallon on March 11, according to AAA. The Keystone Pipeline from Canada to the U.S. is not closed. As the Entertainment Editor, she investigated Hollywood stories and conducted interviews with A-list celebrities and reality stars. TransCanada is a Canadian company that builds and operates energy infrastructure across the North American continent. In 2015 . Gas prices hit record highs as more Americans return to the office, MoneyWatch: Soaring gas prices putting strain on American households, U.S. concerns about TikTok are "absolutely valid," expert says, Belarus dictator to visit China as key Putin allies bolster ties, Hague "people's court" wants Putin held accountable for crimes against Ukraine, Diplomats in London show support for Ukraine by swimming in Hyde Park lake, U.S. must "sustain" its involvement in Ukraine war, secretary of state says, American Fuel and Petrochemical Manufacturers. The pipeline would also accept U.S. crude from the Bakken oil fields in Montana and North Dakota. 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