Opposes President Biden's revocation of Presidential Permit for Keystone XL pipeline.
The resolution articulates a concern that the revocation of the permit could negatively impact energy independence in the U.S., suggesting that reliance on foreign oil would increase if domestic projects like Keystone XL are halted. The Senate emphasizes that with the U.S. achieving significant energy independence lately, such actions could undermine that progress. Additionally, it points to the potential job creation benefit of the pipeline, estimating that its construction could create up to 11,000 high-paying jobs, a point that the resolution claims has not been adequately addressed by the Biden administration in lieu of 'green jobs'.
Senate Resolution No. 57 expresses the New Jersey Senate's opposition to President Biden's decision to revoke the Presidential Permit originally granted to TC Energy for the construction of the Keystone XL pipeline. This pipeline project aimed to transport oil from the Canadian oil fields, specifically the Western Canadian Sedimentary Basin, to the United States. The resolution underscores the importance of the Keystone XL pipeline in ensuring a safe and reliable oil supply, especially in light of expected demand recovery post-COVID-19 pandemic. It highlights that the pipeline could transport up to 830,000 barrels of oil per day.
Notable points of contention include the environmental concerns related to pipeline spills compared to other forms of oil transport. The resolution references studies claiming that pipelines are a safer method of transporting oil than rail, which has a significantly higher risk of spills. Furthermore, it argues that the cancellation of the Keystone XL pipeline could disrupt the strong trade relationship between the U.S. and Canada, potentially leading to geopolitical insecurities. The resolution advocates for the reconsideration and reinstatement of the Presidential Permit to enhance energy security, economic interests, and environmental safety.