Loren Steffy, formerly with the Houston Chronicle, is now writing for Forbes. He’s just published an article laying out the case for building the Keystone pipeline, with which I agree. The key points are:
- Oil from the pipeline will not be exported, which is actually illegal under federal law.
- Refined products, like gasoline, are being exported, but for economic reasons, due to sagging demand in the US. It’s either export, or lay off workers. I’ll take export, which has the side benefit of reducing our trade deficit.
- The pipeline is essentially insurance against OPEC. I would rather have the US control more supply, not less.
Great article by Loren.