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The U.S. and Canada are still awaiting a decision on the construction of Transcanada’s Keystone XL pipeline, which would deliver cheap Canadian crude oil to the midwest and the Gulf Of Mexico ports.The latest word from Sec. of State John Kerry is that a decision will come the “near term.”
The pipeline comes with the promise of more jobs and higher tax revenues.
However, it’s unclear if it’ll bring oil prices down and increase American energy independence.
However, it also comes with serious environmental risks that have high powered financiers like GMO’s Jeremy Grantham worried.
This pipeline has the country divided.
We want to bring you up to speed on the state of the debate.
Keystone XL offers a way to get that oil to the rest of the world. Much of the pipeline is either already built or underway.
The pipeline will extend from the top to the bottom of the country. Two sections starting from Steele City, Nebraska were completed years ago, and Keystone broke ground on the third one that will extend to the Gulf last year.