On Friday Barack Obama U.S. President terminated TransCanada’s Keystone pipeline proposal for channeling oil from Canada oil sands after seven years of review. He mentioned it would have weakened their leadership position on protecting environment and dealing with climate change.
Environmentalists were resisting setting up oil pipeline because it would have been used as a channel for petroleum from oil sands of Canada. According to experts’ estimates the procedure of extraction used for that oil emits almost 17 % more planet-warming gases than that of extracting usual oil. But State Department analyses denied this assumption considering the fact that oil was being extracted already, just moved through other sources.
Oil industry and Republicans had demanded the president to approve oil pipeline, which they mentioned would create employments and encourage economic growth. In February, Republicans and congressional Democrats together sent president Obama a bill to give his approval for the project, however the Mr. Obama vetoed the step.
The president while revealing his decision, referred to the State Department remarks that Keystone pipeline wouldn’t support their national interests.
Obama’s decision made a clear victory for the environmental activists especially who consumed years disapproving the pipeline, pushing the administration to realize hazard hidden in dirty fuel. President and the fellow Democrats had to come in direct conflict with the Republicans and those advocating energy going towards presidential elections of 2016.
Obama said, “This pipeline would neither be a silver bullet for the economy, as was promised by some, nor the express lane to climate disaster”.
Then he added, “Frankly, approving this project would have undercut that global leadership”.
Although environmental groups celebrated Friday, TransCanada said that it stayed totally committed to constructing the project and they were considering filing another application seeking permits. They also once raised the probability of suing U.S. government to recover above $2 billion it has spent on the development.
Russ Girling CEO TransCanada responded, “Today, misplaced symbolism was chosen over merit and science. Rhetoric won out over reason”. Republicans as well as Paul Ryan the House Speaker, who blamed Obama had killed many thousands of employment opportunities while pushing Congress. Ryan reacted, “This decision isn’t surprising, but it is sickening”.
TransCanada initially applied for Keystone authorizations in September 2008, a while after Obama got elected. But environmental groups and Democrats criticized Keystone pipeline as a project that should be stopped to save the world from climate change.
