API: Obama administration moves closer to approving Keystone XL

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Jan 31, 2014, 03:29 ET

WASHINGTON, Jan. 31, 2014 /PRNewswire-USNewswire/ -- American Petroleum Institute President and CEO Jack Gerard welcomed the outcome of the Department of State's Final Environmental Impact Statement (FEIS) on the Keystone XL pipeline.

"Five years, five federal reviews, dozens of public meetings, over a million comments and one conclusion ─ the Keystone XL pipeline is safe for the environment," said Gerard. "This final review puts to rest any credible concerns about the pipeline's potential negative impact on the environment. This long awaited project should now be swiftly approved. It's time to put thousands of Americans to work.

"The only thing left is for President Obama to declare that this project is in our nation's interest. The potential to improve our trade relations with our top ally, Canada, while enhancing our energy security is good for all Americans.

"With KXL, our crude oil imports from Canada could reach 4 million barrels a day by 2030, about twice what we currently import from the Persian Gulf. In just 10 years, we could meet all our liquid fuel needs solely from stable North American sources; an achievement with significant national security benefits. In short, the Keystone XL pipeline is a huge step toward making that a reality."

API is a national trade association that represents all segments of America's technology-driven oil and natural gas industry. Its more than 580 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation's energy and are backed by a growing grassroots movement of more than 20 million Americans. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

SOURCE American Petroleum Institute