Canada's Oil Contributions to Chicago...and Elsewhere
Jane Van Ryan
Posted March 25, 2011
Chicago, called the City of Broad Shoulders, has a lot to be happy about these days. At a time when many Americans are watching oil markets closely, Chicago residents can take comfort in knowing that about 60 percent of their oil supply comes from Canada.
Today, more than 2 million barrels of Canadian oil is imported to the United States every day, and some of it travels by pipeline to refineries in the Midwest where it is refined into oil products such as gasoline. If the State Department approves the construction of the Keystone XL pipeline soon, Canadian oil will be transported all the way to refineries on the Gulf Coast, creating jobs and vastly improving U.S. energy security.
As Fox News in Chicago reported, although the pipeline project has its detractors, its benefits could be substantial:
It's estimated that more than 342,000 U.S. jobs could be created by Canadian oil sands operations, including thousands of union and nonunion jobs that would be needed for the pipeline. This represents a major boost to the U.S. economy and to the families who've been struggling during the recession.
Secretary of State Hillary Clinton is expected to make a decision on the pipeline by the end of the year.
About The Author
- Blogger Conference Call - Oil Sands Development and the Keystone XL
- Blogger Conference Call - ExxonMobil Earnings and Taxes
- Blogger Conference Call - Industry Earnings and Public Pension Plan Ownership
- ETR 130 - The Oil and Natural Gas Industry's Contribution to State Pension Plans
- Keystone Pipeline: The Sooner, the Better
- Capping Stack: A Positive Outcome from a Tragic Accident