After being canceled on day one of the Biden administration, it looks like the Keystone XL pipeline, which will carry heavy crude oil from Canada to the United States, could soon finally begin construction.
According to reporting from Just the News, various oil companies have committed to using it to transport roughly 400,000 barrels of oil. That’s 72% of its projected capacity of over 555,000 barrels, and once they reach 80% capacity commitment, construction is expected to begin.
Market analyst Phil Flynn says much of this oil would be refined in the U.S. into jet fuel, which would be a major boost to consumers. “It would keep airlines from raising prices, because jet fuel wouldn’t be as crazy,” Flynn said. “My only regret is that it didn’t happen years ago.”
Flynn went on to predict that if the Keystone XL project is finally successfully completed, it could lead to further investments down the line, which would, of course, be great news for the American consumer. “If this pipeline goes through, I think other pipelines will be built,” he said. “So why was this pipeline killed? Only because Joe Biden didn’t like Donald Trump.”
The big question now is whether the pipeline will be completed and operational before a future Democrat president gets a chance to cancel it again. Flynn predicted that because gas prices are so much higher now than they were when Biden took office in early 2021, and the green energy agenda has failed so spectacularly, a hypothetical Democrat in 2028 wouldn’t have the political capital necessary to cancel it again.