One of President Joe Biden’s first acts in pushing America toward an unworkable future of zero carbon emissions and all green energy all the time was to kill the Keystone XL pipeline.
Now, we know that cost.
According to CNSNews.com, on Thursday, the Energy Department released a report detailing the consequences of Biden’s no-fossil-fuels policy, specifically on the Keystone project.
“Biden’s cancelation of the construction of the Keystone pipeline,” CNSNews noted, “had the following negative impact” on the economy:
- As many as 59,468 jobs lost per year
- Up to $9.6 billion of lost GDP
- Another $20.9 billion of lost business sales
- As much as $6.5 billion of lost personal income
- An average of $54,651 in personal income per-job lost each year.
The disclosure occurred because of a provision inserted in the Infrastructure Investment and Jobs Act by Republican Sens. Steve Daines of Montana and Jim Risch of Idaho.
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According to the report, the lawmakers added to the bill a requirement that the Energy Department “estimate the job losses and consumer impacts associated with the revocation of the permit for the Keystone XL pipeline.”
That revocation occurred because Biden believed, as he said in a January 2021 executive order, the project “disserves the U.S. national interest, as its construction and operation would not be consistent with U.S. climate goals and it would undermine the global energy and climate leadership role of the United States.”
Yet the report noted a study by a group called the Energy Policy Research Foundation, which found that Biden’s killing the pipeline reduced the security of energy supplies, ruined a project that would move oil more efficiently, and dumped economic benefits totaling between $110 million and $584 million a year.
In a statement, Sen. Risch said, “The Department of Energy finally admitted to the worst kept secret about the Keystone Pipeline: President Biden’s decision to cancel the Keystone XL Pipeline sacrificed thousands of American jobs.”
Risch added, “To make matters worse, his decision moved the U.S. further away from energy independence and lower gas prices at a time when inflation and gas prices are drastically impacting Americans’ pocketbooks.”
“The Biden administration finally owned up to what we have known all along — killing the Keystone XL pipeline cost good-paying jobs, hurt Montana’s economy, and was the first step in the Biden administration’s war on oil and gas production in the United States,” Sen. Daines added in his own statement.
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