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Friday, April 14, 2017

Keystone XL Pipeline Could Generate $44 Million Per Day in Tax Revenues

From The Daily Caller:
The Keystone XL oil pipeline could generate about $44 million in tax revenues a day once it’s fully up and running, according to a new report. 
“The expected economic, environmental, and strategic benefits of the Keystone pipeline outweigh its costs,” Kimberly VanWyhe, energy policy director at the American Action Forum, wrote in the report. “After nearly 9 years and more than $180 billion in lost economic activity, the Trump administration has demonstrated a commitment to move it forward.” 
The 1,700-mile pipeline is expected to carry 830,000 barrels of oil a day from Alberta, Canada, to Gulf Coast refineries, and with crude at $53 per barrel, the project could yield taxpayers $1.6 billion a year, she found. 
TransCanada, the company building the project, initially applied for a cross-border permit in 2008, and the State Department subsequently found the project would have no significant impact on the environment or on U.S. greenhouse gas emissions.
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