Impact of Biden closing the Keystone Pipeline on jobs.

ROUGH TRANSCRIPT:
As many of you know, Joe Biden signed an EO the first day of his presidency that killed the Keystone Pipeline. The pipeline, all 875 miles of it would deliver heavy crude oil from Western Canada to Steele City, Nebraska. All the jobs that go with the pipeline (about 11,000 of them) will now go away. Most people don’t realize though that there are many other jobs that have no direct work on the pipeline itself. For example, someone has to manufacture the actual pipe, someone has to manufacturer the vehicles that are used for the workers to get the pipeline, someone has to create the tools that the pipeline workers will use to build, fix, and maintain the pipeline, and people have to do all of the other things that are necessary to help the project be a success. We’re talking about millions of jobs overall.
All of this has angered union workers, industry stakeholders, and GOP lawmakers whose states will be negatively impacted by the decision.
Mike Sommers, president and CEO of American Petroleum Institute, said Biden’s announcement “is a slap in the face to the thousands of union workers who are already a part of this safe and sustainable project.”
“This misguided move will hamper America’s economic recovery, undermine North American energy security, and strain relations with one of America’s greatest allies.”

Mark McManus, general president of the United Association of Union Plumbers and Pipefitters, said in a statement:
In revoking this permit, the Biden Administration has chosen to listen to the voices of fringe activists instead of union members and the American consumer on Day 1. Let me be very clear: When built with union labor by the men and women of the United Association, pipelines like Keystone XL remain the safest and most efficient modes of energy transportation in the world.
Sadly, the Biden administration has now put thousands of union workers out of work. For the average American family, it means energy costs will go up and communities will no longer see the local investments that come with pipeline construction.”

Sen. James Inhofe (R-OK) said “It is a sad day for the future of American energy independence, but I will not stop fighting for legislation and other policies that keep energy costs down and further our energy and national security. The Keystone XL Pipeline was expected to provide approximately 11,000 direct high-paying jobs and up to 60,000 indirect and direct jobs, generate tax revenue, increase renewable-energy demand, reduce emissions and strengthen North American energy independence.”

Sen. Mike Rounds (R-S.D.) criticized President Joe Biden’s revocation of the permit for the Keystone XL pipeline, saying “The oil that would have traveled through the pipeline will go to China or another country or be shipped to the United States by rail, which is less safe. This was the most efficient way to do it. It’s still going to get moved, but now they’re probably going to have to go to rail cars, and when you go to rail cars, it’s not as safe.”
Don Trump Jr. pointed out that major donors to the Democratic Party, like billionaire Warren Buffet (who owns a railroad) and others will benefit from the halting of Keystone XL. But instead of the oil being delivered efficiently through a pipeline, which with today’s technology is safer than it’s ever been, the mode of transportation of the oil will be from the use of rail lines then transported over to semi-trucks, and the cost of the oil by the time it gets to the consumer by a much less efficient manner will absolutely go up.
So, unfortunately, we need to be prepared for higher energy prices very soon. Our COLA's will go up due to this as well. Make sure you budget a way to save a little for the rainy days.
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