You're watching...
Cato Institute Senior Fellow Jerry Taylor on efforts to get the Keystone XL Pipeline approved.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Although stories coming up -- first tonight were asking.
What's the hold up Mr.
President now your second term is well underway it's time to revisit something that should be at the topping your priority list.
After all it's something that would -- hundreds of millions of dollars to state economies it would create tens of thousands of jobs right here at held.
And the icing on the cake it would help us as a nation become more energy independent what is it.
Well drum roll please approvingly keystone XL pipeline.
And it's not just me today senators on both sides of the aisle led by Max Baucus and -- -- -- -- letter urging the president to approve this pipeline right now.
Thanks to a major announcement from Nebraska's governor yesterday here out of excuses Mr.
President joining me now Jerry Taylor from the Cato Institute.
I Gerri great to have you here so -- to -- the president's hands once again what's your betting on on what he'll do.
Well I don't know they don't Sydney internal memory and or discuss their decisions would be my guess is you approve the pipeline is very difficult -- to say no.
After -- the State Department -- he argued in a filing.
Some time ago that would have minimal impact on the environment there's not a lot of dispute this would be good for the economy.
Gasoline prices may have been sliding but they're still seem relatively high and voters think of the Keystone Pipeline as a way of addressing those prices have given all that.
I suspect the president will approve the pipeline but I could be wrong.
He could be Iran as you know the governor of Nebraska said they were to change the route of the pipeline.
And may go around -- -- before that supplies water to the state of Nebraska and other folks.
-- is this -- to be enough to satisfy degrees out there -- be environmentalists be happy with -- -- do you think they'll continue complaining about this project.
They won't satisfy the environmentalists because there's always been to arguments that against the pipeline the first is its potential impact on the -- La -- aquifer where their spill.
And that's been addressed somewhat by this change in the look pipeline scores.
But -- not enough for the environmentalist but the second issue hasn't been really addressed here.
Which is the impact on climate change the argument of -- -- -- offer is that producing their crude oil and Alberta.
And shipping into the Gulf Coast means more greenhouse gases in the atmosphere tar sands.
Are very -- carbon intensive form of of energy.
And their their belief is that if we don't believe we don't build the pipeline we won't produce so much show crude oil from those tar sands thus will help protect you all right well how.
Listening hours -- -- without a pipeline.
It's not resist that -- not gonna get produced it is being produced and is being shipped is just being shipped by rail -- the pipeline.
Exactly -- those just joining they're using -- respond to something you just that I wanna go into detail little bit on this idea about -- the oil from tar sands.
Being more carbon intensive.
-- respond to that I mean.
It's actually true right.
Well -- well it is true but building the pipeline is neither here and are there if we don't build the pipeline would issues -- to move that the move the oil we won't use pipelines it'll be developed will slightly increase the cost trends it'll be developed anyway because is very profitable mean regardless of which.
The -- profits associated producing crude oil and over are significant enough.
-- is pay an extra two dollars a barrel to ship but by rail as opposed to shipping it by pipeline and that's what they've been doing the pipeline won't stop oil production and Alberta.
So what did you know and trying to what use the pipeline to get of that problem I think is pointless it's not going to work what's most important benefit from that TransCanada -- Well it's an -- and it's it's a wealth creating enterprise in if you don't -- while creating enterprises in the economy you don't point economic growth that's what economic growth is the aggregation of wealth creation and this is a while creating enterprise.
I think a lot of the -- for the pipeline beyond that tend to get becomes somewhat of a stretch the job creation figures for instance.
-- trades candid itself be an exact number of jobs will be created by finishing this pipeline.
The direct number of jobs about 4700 that's not that big a deal from a number of.
Lot of people debate -- jobs credit media are more optimistic about job creation of course.
We think the most of these numbers -- contrast candidate they're using understood I'm sorry understood but what do you think is the most important impact for our country.
Well I think the most important impact as people get to make profits building a pipeline and and using this oil in Gulf Coast refineries and -- -- that sorry can't be more sexy than that and talk about energy pretty.
Rest of the view on the I think very pretty darn good actually.
I had -- well.
Doesn't really matter first of all crude from Canada doesn't make us energy about it it is foreign -- step technically speaking of most of our -- doesn't come from Saudi Arabia when it crosses our -- -- comes from North America and even if we were energy independent -- make a whole lot of difference supply disruptions abroad registered big an impact on us.
Is if we were importing the -- what's not that big.
Not that big deal OK great to -- here on the Keystone Pipeline Gerri thanks so much.
Thank you it.
