PRESIDENT BIDEN’S REVOCATION OF PERMIT FOR THE KEYSTONE XL PIPELINE EXTENSION WILL KILL AMERICAN ENERGY JOBS

Posted On January 21, 2021

PRESIDENT’S ACTION SIGNALS DANGEROUS WARNING FOR NEW MEXICO’S OIL AND GAS INDUSTRY

 

Albuquerque, January 21— In less than 24 hours in the Oval Office, President Biden has signed multiple executive orders demonstrating his intention to destroy the nation’s critical oil and gas industry. The President has penned his name to an executive action that revokes the permit for the Keystone XL Pipeline extension, a move that will destroy jobs in the fossil fuels industry.

“President Biden’s actions have made it clear that he doesn’t care about our vital oil and gas industry,” says Steve Pearce, Chairman of the Republican Party of New Mexico. “Biden’s blocking of the pipeline permit will mean more than 11,000 job losses and more than $1.6 billion in lost wages. These are good jobs, union jobs, and Biden’s decision will hurt local economies in a number of states. Biden continues to make it his mission to devastate this industry that’s critical for New Mexico.”

The executive order means a stop to the construction of the $8 billion energy project that would carry 800,000 barrels of crude oil daily from Canada to the Texas coast. It reverses an order by President Trump to proceed with the project.

Who says Democrats are always for the little guy? The biggest winner here is going to be Warren Buffett, who owns the railroad that’s been transporting all of the oil. The pipeline would carry this oil much cheaper to consumers. Those rail costs will cost consumers even bigger bucks now. This is corporate greed. The pipeline would have saved Americans money as well as livelihoods.

The Keystone XL pipeline remains a safe and efficient mode of energy transportation. Advocates of the project say the revocation will lead to higher energy costs for Americans, and communities will no longer receive local investments that come with this pipeline construction.

The Biden order is a clear indication that he will kill jobs, investments and revenues generated by the fossil fuels industry in the name of green energy.

Biden has also signed an executive order that will lead to the United State rejoining the Paris climate accord. This is another action that will hurt the oil and gas industry.

Oil and gas is among New Mexico’s most vital industries, generating billions of dollars annually and providing key revenues to state coffers. The industry is also responsible for  more than 100,000 direct or related jobs in New Mexico.