For North America, Keystone XL is a lot of things; it is a $5.3 billion investment in safe energy infrastructure, it is an opportunity to put 9,000 construction workers to work and it is a choice between secure, stable North American energy or a continued reliance on OPEC. To the contrary of what paid activist opposition says, Keystone XL is not an “export pipeline.”
The U.S. is an overwhelming net importer of crude oil. The International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) have both forecast the U.S. will still need to import oil to meet its domestic demand for decades, despite growing oil production in the U.S.
Today, the United States consumes 15 million barrels of oil per day (bbl/d) and imports eight million barrels. The EIA forecast in 2012 stated that the U.S. will continue to import 7.5 million bbl/d into 2035 to meet its needs.
Read more on the TransCanada blog.
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