Baucus Urges Fast Approval Of Keystone XL Pipeline

(Washington, D.C.) - Montana's senior U.S. Senator Max Baucus today urged the U.S. Department of State to expedite a permit by TransCanada to create its Keystone XL pipeline. The pipeline will be a significant economic driver in Montana, creating thousands of new jobs during construction, and with local project spending expected to be over $400 million. As result of the pipeline, state and local revenues are expected to increase $8.9 million.

"The Keystone XL Pipeline will bolster Montana's economy with thousands of new jobs, new revenues and new spending in our communities, especially in eastern Montana," Baucus said. "Job creation is my priority and we can't afford for a project this important to be held up in bureaucratic red tape. I'm pleased to work with TransCanada to move this project forward and bring an economic boost to our state."

"The Keystone XL pipeline will play a pivotal role in reducing U.S. oil import from unstable sources and based on independent economic research, Keystone XL will lead to the creation of hundreds of thousands of jobs for American workers and generate billions of dollars in tax revenue for states like Montana," said TransCanada President and CEO Russ Girling. "This project is entirely paid for with private sector dollars and is "shovel ready." Further delay in the issuance of a Presidential Permit for the Keystone XL pipeline puts on hold employment opportunities for working men and women in states like Montana, South Dakota, Nebraska, Oklahoma and Texas. Senator Baucus' support for the Keystone XL pipeline is critical as Federal government staffs are currently deliberating the future of Keystone XL and the project's economic and energy security impact for the U.S."

Baucus and Girling will also both participate in an energy panel on Monday at the 5th Economic Development Summit in Butte.

Baucus' letter to Secretary Clinton is attached and text is as follows:

September 10, 2010
Dear Secretary Clinton:
I am writing to you today to express my support for the TransCanada XL Pipeline and to urge you to expeditiously complete work on the Presidential Permit application for the Keystone XL Pipeline.

The project is expected to be a significant economic driver in Montana, both during the construction and operations phases of the project. The pipeline will traverse the state of Montana with 285 miles of pipeline and 6 pump stations, ultimately providing a critical on-ramp to refining assets for eastern Montana's oil producers. Some estimates show that Montana can expect over 5,500 new jobs during the construction phase with local project spending of over $400 million. State and local revenues are expected to increase of $8.9 million. TransCanada's inclusion of the on-ramp for oil producers in the Bakken formation in the Williston Basin will create economic growth and jobs in eastern Montana.

From a national perspective, Keystone XL will supply roughly half the amount of oil that the U.S. currently imports from the Middle East or Venezuela. The Keystone XL pipeline is exactly the type of project with economic and security benefits that we cannot afford to lose during this time of economic hardship due to bureaucratic delays. I urge you to complete your work on the Presidential Permit rapidly, to allow this project to move forward in the near-term.

Sincerely,

Senator Max Baucus

Max Baucus Signature