Energy expert Robert Bradley is speaking at an upcoming Rio Grande Foundation-sponsored luncheon on November 10 (more information here). Bradley has a very interesting article on the Keystone XL Pipeline over at the Cato Institute’s website.
According to Bradley, “A new influx of up to 700,000 bpd from Canada will dramatically increase U.S supplies and in turn drive gas prices down. A study from Energy Policy Research Foundation found a greater supply of Canadian oil could save Gulf Coast refiners almost $500 million annually in transport costs, which, in turn, would mean lower prices for consumers at the pump.”
Also, “by 2019 employment directly related to Keystone XL could grow from 80,000 jobs to 179,000. If the flow of Canadian oil through the United States remains unchanged, however, total employment from the Keystone line will peak at 94,000 in 2019.”
This would seem to be exactly what the doctor ordered for the US economy. For more information on the proposed pipeline and a petition on it, go to this link.