For all of the naysayers who claim the Keystone XL pipeline will not create jobs and economic growth, listen up.
A 485-mile segment of the Keystone XL pipeline linking Oklahoma and Texas generated economic growth in rural communities in both states.
FoxNews.com, reported on a study by the Maguire Energy Institute at Southern Methodist University:
“…says the pipeline has pumped $3.6 billion into the Texas economy and $2.1 billion into the Oklahoma economy, while creating thousands of jobs directly and indirectly. It has also boosted tax revenues by millions of dollars, according to the study.”
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“Similar state and local economic benefits can be anticipated should the United States give the go-ahead for construction of the Keystone XL pipeline from Hardisty, Albert, to Steele City, Neb.,” the report concluded.
TransCanda Corp. spent $2.3 billion to build the Gulf Coast Pipeline, which generated nearly 5,000 construction jobs. The firm spent $6 million each month, the study said.
“Local restaurants, hotels, and businesses experience a significant boost thanks to the construction of the Gulf Coast Project,” the report said.
This study proves the type of economic growth that can come from the pipeline construction and it should bolster political pressure on President Obama to approve the most important part of the pipeline – the link between Canada and the U.S.
As the Middle East rages in turmoil, what better way to spur job creation and for America to be energy independent than to move forward with the Keystone XL pipeline project.