|By Marketwired .||
|January 31, 2014 04:48 PM EST||
OTTAWA, ONTARIO -- (Marketwired) -- 01/31/14 -- Natural Resources Canada
"We welcome today's report and are encouraged that the State Department confirmed that Keystone XL would not have a significant environmental impact.
"This is the fifth federal study on the environmental impact of the Keystone XL pipeline. Each previous one has stated that building Keystone XL would not adversely affect the environment. Today's report confirms once again this result, including no appreciable impact on greenhouse gases.
"The report concludes that NOT building this project would result in emissions that are 28 to 42 percent higher than if the project is built.
"The report also stated that 'Approval or denial of any one crude oil transport project, including the proposed Project, remains unlikely to significantly impact the rate of extraction in the oil sands, or the continued demand for heavy crude oil at refineries in the United States.'
"The U.S. government has been reviewing the project for over five years. This has been a lengthy and thorough review process.
"The benefits to the U.S. and Canada are clear. We await a timely decision.
"The Keystone project is expected to support tens of thousands of jobs and billions of dollars in economic activity in both Canada and the United States, and revenues to government contribute to social programs like healthcare, education and housing.
"The U.S. Department of Energy estimates that the U.S. will need to import 7.9 million barrels of oil per day in 2040, so the U.S. will remain a very important customer for Canadian oil.
"Keystone XL would displace oil from Venezuela and the Middle East with a stable, democratic and environmentally responsible continental supply and thereby enhance North American energy security.
"There is widespread support for this project among labour groups, including building and construction unions.
"The choice for the United States is clear: oil supply from a reliable, environmentally responsible friend and neighbour or from unstable sources with similar or higher greenhouse gas emissions and lesser environmental standards."
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Director of Communications
Office of Canada's Minister of Natural Resources
Natural Resources Canada, Ottawa
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