As a result of his insane move to kill the Keystone XL pipeline, Biden is now importing a record amount of oil from Russia. We all knew this would happen. Really, why would Biden do this?
Energynow.com reports:
One year since President Joe Biden cancelled approval for the Keystone XL pipeline from Canada, and the United States’ thirst for oil is as strong as ever and rising.
U.S. oil imports from Saudi Arabia and Russia have increased, and gasoline prices are higher than they have been in the last five years.
“[Keystone XL] was a missed opportunity to increase North American energy security, lower costs for American consumers and reduce dependence on foreign energy sources that are hostile to U.S. interests,” says Frank Macchiarola, senior vice-president with the American Petroleum Institute…
…Renewable energy in the U.S. is growing, and demand for oil continues to surge.
Consumption in 2023 is expected to reach 17.2 million barrels per day, higher than before the COVID-19 pandemic, according to the U.S. Energy Information Administration.
Before President Biden’s cancellation in January 2021, Canadian oil producers remained committed to Keystone XL despite waiting nearly 12 years for the project to go ahead.
In 2018, a decade after the first regulatory application, Keystone XL had 20-year shipping commitments for about 60 per cent of its capacity. In 2020, that increased to nearly 70 per cent…
…The U.S. Gulf Coast is the world’s largest processing region for what is known as “heavy oil,” and Alberta is the world’s largest heavy oil producer.
“Keystone XL was probably one of the largest pipeline projects proposed that would have tied Canadian supply to the U.S. Gulf coast as a bullet train express,” says Kevin Birn, chief analyst, Canadian crude oil markets with consultancy IHS Markit…
…At peak construction, Keystone XL would have employed approximately 13,000 people in Canada and the U.S., including 2,800 in Alberta and Saskatchewan and 10,200 in Montana, South Dakota, and Nebraska.
Since cancelling the pipeline, President Biden has repeatedly asked OPEC+ nations like Saudi Arabia and Russia to increase oil production to help lower U.S. gasoline prices.
Meanwhile, a report published by the American Petroleum Institute shows that importing “heavy oil” from Canada’s oil sands has reduced costs for American consumers.
The US Energy Department and far-left Politifact agree on this one:
The most recent data from the U.S. Energy Information Administration shows that in May, the U.S. imported 844,000 barrels per day of crude oil and petroleum products from Russia. That’s almost 10% of all the U.S. imports for that month.
Historically speaking, this is a large amount, setting a new monthly record for Russian oil imports.