Benefits of Keystone XL
Nearly doubling the capacity of the existing Keystone system, the $7 billion Keystone pipeline expansion will be able to transport approximately 1.1 million barrels of crude oil daily, non-stop from Alberta, Canada to market hubs in the Midwest and Texas.
STRENGTHENING U.S. ENERGY SECURITY
A stable, long-term energy supply is critical to our nation’s energy security, particularly when global supplies are often found in geopolitically unstable regions of the world and production from once-reliable sources is slowing.
SPURRING U.S. ECONOMIC GROWTH
Refinery modifications and pipeline construction create jobs and bring additional tax revenue and other economic benefits to their localities. The economic impact and long-term benefits of the construction of the Keystone XL pipeline are significant.
Overall, the Keystone XL pipeline project will:
Create thousands of jobs
- Produce 20,000 well-paying jobs during manufacturing and construction;
- Increase personal income for all America workers by $6.5 billion during the lifetime of the project.
Increase tax revenue for local governments
- Generate an estimated $138.4 million in annual property tax revenue for state governments and local entities where the pipeline is located;
- Create $585 million in new taxes for communities among the pipeline route;
- Create more than $5.2 billion in property taxes during the lifetime of the pipeline.
Spur additional indirect economic impact
- Generate additional private sector investment of around $20 billion on food, lodging, fuel, vehicles, equipment, construction supplies and services.