US President Donald Trump today granted the final approval for constructing the controversial Keystone XL pipeline, saying the decision was part of a new energy policy which will "significantly" reduce the American dependence on foreign oil.
"I'm pleased to announce the official approval of the presidential permit for the Keystone XL Pipeline," Trump told reporters at a national economic council meeting at the While House.
TransCanada, the Calgary-based company, has been trying to secure approval for the pipeline for nearly 10 years. The USD 8-billion project would connect Alberta's massive tar sands crude with pipelines and refineries on the Texas gulf coast that are particularly well-suited to handling the thick oil.
"It's going to be an incredible pipeline, the greatest technology known to man or woman," Trump said, with Russ Girling, president of TransCanada, by his side.
Trump said the presidential permit for the pipeline was part of a new era of US energy policy. "This will very significantly reduce American dependence on foreign oil and create thousands of jobs right here in America," he said.
When completed, the Keystone XL oil pipeline will span 1450 kilometres, and have the capacity to deliver more than 800,000 barrels of oil per day to the Gulf Coast refinery.
"The fact is that this USD 8 billion investment in American energy was delayed for so long, it demonstrates how our government has too often failed its citizens and companies over the past long period of time," he added.
Trump said the pipeline is just the first of many energy and infrastructure projects that his administration will approve. "We have already approved a couple of other very, very big ones which we'll be announcing soon, in order to help put Americans back to work, grow our economy and rebuild our nation," he said.
Girling said the pipeline was the safest and most reliable way to move gas products. "We're going to use the best technology and it will create thousands of jobs, important tax revenues in local communities," he said.
The presidential permit was signed by the Under Secretary of State for Political Affairs Thomas A Shannon.
US Senator Rob Portman said this would create more American jobs. "This common-sense project will help create good-paying jobs for thousands of families. It will also create stronger economic growth, boost American manufacturing, and provide a more stable and affordable energy supply to help protect Americans against energy price spikes," he said.
"This is good news," said Senator Chuck Grassley from Iowa. "A lot of jobs in this country are tied to energy and construction. This is a chance to add more of those jobs. It's a chance to help meet the country's energy needs and reduce dependence on less reliable foreign sources," he said.
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