Trade Resources Industry Views Late Wednesday Plans to Expedite The Approval of The Keystone XL Pipeline

Late Wednesday Plans to Expedite The Approval of The Keystone XL Pipeline

Late Wednesday, the US House of Representatives passed legislation to expedite the approval of the Keystone XL pipeline by a vote of 241-175. The House vote came despite insufficient support in the Senate, in addition to a threatened veto by President Barack Obama. H.R. 3, the Northern Route Approval Act introduced by Representative Lee Terry (R-NE), would clear the way for construction of the Keystone XL pipeline, which has already been delayed for more than four years due to bureaucratic hurdles. This was the House's seventh vote on the Keystone XL project.

"The Keystone XL pipeline will have substantial benefits to the United States, creating valuable jobs and increasing energy supplies.This legislation illustrates the overwhelming support for this project and should be a sign to President Obama that he must end the gridlock and approve the pipeline," said Thomas J. Gibson, president and CEO of the American Iron and Steel Institute (AISI).

Gibson noted that the proposed Keystone XL project has undergone a lengthy review process by the federal government. Most recently, the State Department released its Draft Supplemental Environmental Impact Statement (EIS) on the revised Keystone XL pipeline route and concluded that the project would create substantial economic benefits while having minimal environmental impact.

Despite support from the House and many US steelmakers, Wednesday's vote may do little to really move construction of the pipeline's Northern route along.

Source: http://www.steelorbis.com/steel-news/latest-news/us-house-of-representatives-passes-legislation-to-expedite-keystone-xl-760659.htm
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US House of Representatives Passes Legislation to Expedite Keystone XL
Topics: Metallurgy