Keystone Clock Ticks On As Gas Prices Tick Up
According to AAA, the price for a gallon of regular grade gasoline has increased for 34 consecutive days to $3.76/gallon, rising over $.46 since January 17, 2013. As the middle class endures the price jump at the pump, the White House continues to delay approval of the landmark $7 billion private sector energy project, construction of the Keystone XL pipeline. It has now been 1615 days since TransCanada first applied to the State Department for a Presidential Permit to build Keystone XL.
The Keystone XL project offers a unique opportunity for the president to increase America’s access to stable and secure oil supplies. Energy supply stability is an issue the American people become concerned about, particularly when prices are rising. Increased global competition for oil supplies and political tensions in the Middle East are contributing to high gas prices as uncertainty swells over future supplies. To help insulate ourselves from overseas supply disruptions and future gas price spikes, America must look to expand energy production here at home and increase imports from our North American allies.
As noted Tuesday in USA TODAY, “At a time of rising global competition for energy resources, the pipeline would bring reliable new oil supplies to a U.S. that still imports 40% of its crude, 7.6 million barrels a day last year. And 40% of those imports come from OPEC nations such as Venezuela, Iraq and Nigeria. Keystone is expected to supply 830,000 barrels a day, a key step toward the long-sought goal of North American energy independence, which suddenly seems attainable.”
Keystone XL is a sensible solution that will expand U.S. access to the third largest oil reserves in the world and, once constructed, deliver secure Canadian oil to U.S. markets.
Rising gas prices are putting an increasing strain on America’s middle class as families are forced to pay a larger percentage of their income on higher energy costs. According to a recent report by the Energy Information Administration, U.S. households spent the highest percentage of their income on gasoline in 2012 in nearly three decades, with the exception of 2008 when spending was at similar levels.
To help protect Americans from higher gas prices we must do everything we can to increase access to affordable supplies and advance North American energy independence, including building the Keystone XL pipeline. It’s time to move #ForwardOnKeystone. After 1,615 days, it’s #TimeToBuild the Keystone XL pipeline.