WASHINGTON, MAY 23, 2011 ─ The bipartisan, North American-Made Energy Act, that would approve the Keystone XL Pipeline by November 1, is an important driver of U.S. economic growth and job creation, according to API.
"U.S. jobs supported by Canadian oil sands development could grow from 21,000 jobs today to 465,000 jobs by 2035," said API Executive Vice President Marty Durbin. "The Keystone XL pipeline has undergone extensive analysis and review over the last two years and it is time to focus efforts on creating jobs and strengthening our relationship with America’s number one source of imported oil: Canada."
The legislation being considered today by the House Energy and Power Subcommittee recognizes the important benefits of extending the state of the art pipeline from Alberta, Canada to U.S. refineries near the Gulf of Mexico.
"Nearly 1000 U.S. businesses in 47 states already provide services, materials or equipment to Canada in support of oil sands development," said Durbin. "A recent survey of Americans showed that 85 percent believe that U.S. government policies should support the use of oil from Canada’s oil sands. Other countries are looking out for their energy futures. The U.S. needs to as well."
API also thanked U.S. Reps. Lee Terry (R-Neb.) and Mike Ross (D-Ark.) for their bipartisan support to put hundreds of thousands of Americans to work, and to help boost our nation’s energy security.
API represents more than 470 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $ 86 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.