The Keystone XL pipeline will create 20,000 direct jobs for Americans during construction, and additionally will create 118,000 indirect jobs during the construction phase. Over five billion dollars in taxes will pass to the communities that the pipeline passes through and it will generate an estimated $20 billion of economic stimulus to the United States.
The Dakota access pipeline created roughly 33,000 jobs during its’ construction in North Dakota alone and created nearly 7,700 jobs and generated $450 million in labor income. Once operational, it will generate for state and local governments ongoing annual sales revenues of about $158 thousand and in its first year DAPL will generate about 13.1 million in new property tax revenue for local governments.
If these facts are true, then why should anyone be against it?
Well when you follow the money, the truth about who is behind all the protests and who the real winners and losers are comes to the forefront. The Burlington Northern Santa Fe railroad (BNSF) is the owner of all the rail lines in the U.S. that connect to Western Canada. And on these lines, hauls crude oil coming from Canada to the Midwest and Texas. BNSF charges as much as $15.00 per barrel to haul the oil. The Keystone pipeline would reduce the cost to only $5.00 per barrel by the state department’s own estimates. Now here’s where it gets good. BNSF is owned by Berkshire Hathaway whose chairman is none other than Warren Buffett. Both Buffett and Berkshire Hathaway would lose over two billion dollars per year if the pipeline is utilized. Not to mention that they rake in two billion dollars per year for every year that the pipeline is delayed.
It is no wonder that Warren Buffett gives so extensively to democratic causes and candidates and it is no wonder that the democrats are behind blocking the pipeline in Buffet’s favor. $10.00 per barrel makes a major difference at the pump. So not only are taxpayers increasing market share for Berkshire Hathaway for every gallon of gas they pump, local state and Federal governments are not getting the tax benefits nor are the American citizens gaining the thousands of jobs that these pipelines will create.
President Donald Trump in his continuation of fulfilling his campaign promises to create jobs and make better deals for America, signed an executive order to revive the keystone pipeline project that was rejected by Obama. The president’s executive order also requires that the steel pipeline itself will be made in America which additionally will bolster our steelworkers and the steel industry as a whole.