Last week, the developer of the Keystone XL pipeline announced it was permanently canceling the project, after the Biden administration pulled its permit as one of their first official acts. This pipeline would have safely delivered oil to meet significant demand from American Gulf Coast refineries. Keystone XL was simply an expansion to a system that has been operating since 2010 and has already safely transported over 2 billion barrels of oil.
The loss of nearly 11,000 U.S. jobs and $2 billion in earnings that Keystone XL would have created is significant. But, even greater will be the long-term effects that this pattern of politicizing critical infrastructure projects to death will have on affordable energy prices for American families and businesses.
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