CALGARY, Nov. 10, 2011 /CNW/ - The Canadian Association of Petroleum
Producers today said the U.S. government's decision to re-examine
alternate routes for the proposed Keystone XL oil pipeline from Canada
to the U.S. Gulf Coast is disappointing given the three years of
extensive analysis already completed and after the U.S. government's
own environmental impact assessment determined the proposed Keystone XL
pipeline routing would not have an undue environmental impact.
"Keystone XL is not about America using more oil, it's about the source
of America's oil - Canada or elsewhere. It's also about common economic
and geopolitical interests between Canada and the U.S. While the
Keystone delay is unfortunate, we respect the United States regulatory
process and remain optimistic the pipeline will be approved on its
strong environmental, economic and energy security merits," Collyer
Keystone XL would create tens of thousands jobs and displace U.S. crude
oil imports from less reliable foreign sources. Keystone XL also
further strengthens the largest energy trading relationship in the
world. Canada is the single-largest supplier of crude oil to the United
States. Pipelines, many of which exist today, are the safest way to
transport crude oil.
Canadian oil sands production will not be impacted in the near term and
other alternatives are being pursued to ensure market access over the
medium term. Delaying Keystone XL will motivate exploration of other
markets for Canadian crude oil products.
"We have the opportunity to grow Canada-U.S. energy trade through
increased oil sands supply. We should seize that opportunity to benefit
both our countries," Collyer said.
The Canadian Association of Petroleum Producers (CAPP) represents
companies, large and small, that explore for, develop and produce
natural gas and crude oil throughout Canada. CAPP's member companies
produce more than 90 per cent of Canada's natural gas and crude oil.
CAPP's associate members provide a wide range of services that support
the upstream crude oil and natural gas industry. Together CAPP's
members and associate members are an important part of a national
industry with revenues of about $100 billion-a-year. CAPP's mission is
to enhance the economic sustainability of the Canadian upstream
petroleum industry in a safe and environmentally and socially
responsible manner, through constructive engagement and communication
with governments, the public and stakeholders in the communities in
which we operate.
SOURCE Canadian Association of Petroleum Producers
For further information:
Tony McCallum, Media Relations
Canadian Association of Petroleum Producers