President Obama spoke on U.S. climate change at Georgetown
University on Tuesday. In this speech he commented, for the first time in
months, on the Keystone XL pipeline which will carry crude oil from
Alberta's oil sands to refineries in the Gulf Coast. For the
Keystone pipeline to be approved Obama requires evidence that
the pipeline will not "significantly exacerbate the problem of
carbon pollution."
Proponents of the pipeline are heralding this a victory citing
the findings of the State Department's Draft Supplementary
Environmental Impact Review which asserted that the Keystone
pipeline would have a minor impact on greenhouse gas emissions.
Canada's Natural Resource Minister, Joe Oliver agreed, noting that Keystone is unlikely to
have a significant impact on the rate of development of the oil
sands and its associated greenhouse gas emissions. While
environmental group Sierra Club Canada considers President
Obama's speech to be a death sentence for the pipeline,
TransCanada's CEO Russ Girling said he's confident the
Keystone XL pipeline will ultimately be approved.
While President Obama's speech clothed the fate of Keystone in some ambiguity, a final decision from the State Department on the US$5.3 billion dollar project is expected this fall. Stay tuned!
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