Keystone XL Pipeline, Boom or Bust (cont.)

On November 16, 2014, I wrote about the Keystone XL Pipeline Project that will most likely be passing the House and the Senate, now that the Republicans have complete control. I sincerely hope that President Obama stands ready with his 'Veto' stamp. As I wrote back then, the cost to the environment far exceeds the value of the 35 permanent employment positions that will be created after two years of construction. The possible $3-$4 Billion that it may mean to the USA is nothing compared the risks of the pipeline polluting a major aquifer in the Midwest. The track record of the company that wants to build this behemoth of disaster, the TransCanada Corporation, is dismal, at best. I ended my post by saying the truth would be found if you were to just,"Follow the money."

First of all, the fact that John Boehner has invested $10,000 to $50,000 each, in the seven firms that have a stake in Canada’s oil sands should raise red flags for everyone, including the House Oversight Committee; especially in light of Boehner’s push to grant a permit for the Keystone XL pipeline ahead of the State Department and EPA studies and reports and the millions big oil spent to hasten its construction. To make matters worse, after President Obama denied TransCanada’s permit to build the pipeline, Boehner’s spokesman lied about the number of jobs the President killed. One thing is certain; Boehner would profit from the Keystone pipeline. Profiting politically by selling votes and influence is a career-long habit of his.

By far, those who benefit the most, are TransCanada Corporation, Suncor and Imperial Oil Limited, all Canadian companies. Why would we risk our environment for a puny $3-4 Billion dollars and 20-35 jobs, at best, while these three companies alone will net profits of $100+Billion dollars. In this deal, unless you are fortunate enough to have stock in the aforementioned companies, this is a BAD DEAL.

China will benefit because the largest portion of the refined oil will be loaded on to supertankers and floated their way. Very little of the oil will remain in the US. Another couple of guys who have their fingers in pie are the good old Koch brothers, Charles and David. Koch Industries will be in charge of refining the crude that comes down the pipeline. You had to know these good old boys would be involved. If there is money to be made, these boys are first in line.

The things that Republicans and some Democrats are saying in order to promote Keystone XL are lies. Keystone XL would be a giant gift to the oil companies while the American people would assume all of the burden and risk. Also, to keep in mind, is the fact that 'Big Oil' is already subsidized with your tax dollars while they pay almost no tax dollars on their huge profits. Does 'Big Oil' really need more profits not to pay taxes on? Unless the Keystone XL Pipeline benefits you directly, it is a bad deal for you and the rest of us.

#johnboehner #koch #environment #oil #china