U.S. Steel Industry Disappointed in Senate Keystone Vote
11/20/2014 - The American Iron and Steel Institute (AISI) expressed disappointment that the U.S. Senate narrowly failed to advance legislation to move forward with the Keystone XL pipeline.
The Institute urged the Obama Administration to grant the presidential permit for the project and end the six years of bureaucratic hurdles that have delayed construction.
“Any further delay of this pipeline could have significant national security implications for our nation. If we do not secure the energy we need, which includes oil, we become vulnerable to external contingencies in an uncertain world. This pipeline is an opportunity for President Obama to show leadership and commitment to our nation’s energy independence, job creation and security,” said Thomas J. Gibson, president and CEO of AISI. “The President can end the stalemate by approving the application to finish constructing and begin operating the full Keystone XL pipeline. Anything less puts the future of our country’s energy development in jeopardy.”
Gibson said more than 42,000 jobs would be created and US$2 billion in additional revenue to GDP would result in the building of the pipeline.
“Pipelines have long been recognized as one of the safest, most reliable and well- regulated ways to move crude oil and petroleum products, and steel pipe and tube plays a critical role in the production and transmission of oil and gas. The Keystone XL pipeline will be built to the most advanced specifications and will be monitored and maintained by state-of-the-art technologies. It is time to move ahead and put the steel to work,” said Gibson.
“Any further delay of this pipeline could have significant national security implications for our nation. If we do not secure the energy we need, which includes oil, we become vulnerable to external contingencies in an uncertain world. This pipeline is an opportunity for President Obama to show leadership and commitment to our nation’s energy independence, job creation and security,” said Thomas J. Gibson, president and CEO of AISI. “The President can end the stalemate by approving the application to finish constructing and begin operating the full Keystone XL pipeline. Anything less puts the future of our country’s energy development in jeopardy.”
Gibson said more than 42,000 jobs would be created and US$2 billion in additional revenue to GDP would result in the building of the pipeline.
“Pipelines have long been recognized as one of the safest, most reliable and well- regulated ways to move crude oil and petroleum products, and steel pipe and tube plays a critical role in the production and transmission of oil and gas. The Keystone XL pipeline will be built to the most advanced specifications and will be monitored and maintained by state-of-the-art technologies. It is time to move ahead and put the steel to work,” said Gibson.
