The Canadians are getting tired of waiting around for US approval on the Keystone pipeline that’s been dragging on for years. Fox News reports that they are beginning to move on to Plan B. Their oil will most likely go to China instead of the United States.
Where crude oil is concerned, Canada waits for no country. It doesn’t matter how wealthy or how friendly that country is — or whether that country is the United States.
With the Canada-to-Texas Keystone XL pipeline stuck in limbo on the U.S. side, Canada’s Energy Board recently gave a thumbs up to a $6.5 billion pipeline designed to carry 525,000 barrels of oil per day from the oil sands of Alberta to ships on the British Columbia coast. The final destination is most likely Asia.
The development has the U.S. oil industry attacking the Obama administration over its drawn-out process.
“It’s taken longer to approve the Keystone XL pipeline than it did to win World War II, longer than it took us to put a man in space, and almost as long as it took to build the Trans-Continental railroad 155 years ago,” said Jack Gerard, president of the American Petroleum Institute. (Read More)
The State Department has been sitting on the Keystone application since 2008. Of course, if President Obama wanted to see this approved it would have been done years ago.
So much for all of the jobs that could have been created.