What does the cancellation of the Keystone Pipeline mean for the U.S. Economy?
When he assumed office, President Joe Biden signed seventeen executive orders into law reversing many of his predecessor's signature policies. Among them, one withdrawing construction of the proposed Keystone Pipeline encompassing both the United States and Canada.
Proponents of the withdrawal argue that the decision will be hugely beneficial to the environment and contribute to the creation of a more sustainable planet.
Opponents, on the other hand, argue that Biden's move will cost upwards of hundreds of thousands of blue collar jobs and make America more dependent on foreign oil.
Which is the more forceful point?
- princess pounderLv 71 month agoFavourite answer
Well the oil is going to flow one way or another. Keystone is the safest option. Look at the skyline of Calgary, look closer at the glass covered buildings. Much of the materials mfg in USA providing good jobs to USA citizens. Much of the oil hardware and equipment in Alberta is also mfg in USA.
- HopefulLv 61 month ago
Well it’s not going to help about 13000 people out of work, it will drive energy prices up because people will be buying futures. Heating, electricity, fuel, flight costs, transportation costs which will drive up product costs, I understand gasoline cost are up 40 cents a gallon not sure why so fast. These people will go on unemployment insurance which will cost more to the states they are from.
- Anonymous1 month ago
You'll need your next "stimulus" to buy gas, to look for another job.
- 1 month ago
It means the economy is going to take a dive.. many , many jobs lost and even more in the future...lots more lost in Canada too, our supposed friend.. not going to be so friendly anymore. Stupid move of Biden's part.. just out of spite.. no good reason. Three days in office and he has killed at least 20 - 30 thousand jobs. Next he will be after the coal industry. Nice going Joe, maybe your wife can just bake them all cookies!
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- sarahLv 71 month ago
That oil was going to the coast to be shipped out and the only one benefiting from it was the oil company. We can see that oil is being left in the dust. We are getting more cheaper forms of power. We do not need that piple line and the only one who benefits from it is the oil company That is like complaining about the horseless carriage. It will put the stables out of work. Who will make bridles and whips and stage coaches? In the future the none polluting producers of power will make thousands more jobs. That is just from Ted Cruse who has tons of stock in the oil company. but for the rest of us paying for something that will only benefit Ted Cruse is not good. Why should the tax payers pay for something that is being sent to the middle east to make the oil company rich?
- TB12Lv 71 month ago
Hundreds of thousands of blue collar jobs,,,, no. Best estimate is the pipeline would provide about 2000 to 2500 temporary construction jobs and less than 100 full time after it's completed, plus there are already numerous pipelines from Canada to the U.S.,, the Keystone pipeline is really unnecessary,
Trump gave the go ahead for two reasons,,, to give a big middle finger to Obama and to help his wealthy donors get even wealthier,, it had nothing to do with jobs or necessity.
- Anonymous1 month ago
My opinion, nothing. There is no guarantee that Canadians would hire Americans when their company has an obligation to hire Canadians.
- 1 month ago
The pipeline wouldn’t help anyone except the oil fat cats. We need to invest in alternative renewable energy. China is so far ahead us, it is frightening. In about 20 years, China will be replacing the oil producing countries as the world’s energy giant. Unless we wake up.
- jijawmLv 41 month ago
America bad, Orange Man Bad. Biden good.
M asters tell(s) me, so it must be so.
- samLv 71 month ago
Very little...........fewer than a hundred jobs long term. Maybe 2000 during construction for 2 years.
America produces more oil than it needs.