Keystone XL Pipeline

Floor Speech

Mr. BOOZMAN. Mr. President, when President Obama was sworn into office, the Nation's average price for a gallon of gasoline was under $2. We all know that is not the case today. In most parts of the country, gas remains well over $3 a gallon. In my home State of Arkansas, the price of gas ranges anywhere from just under $3 to $3.50 a gallon. The reason it stayed at a steady price is because there is a decreased demand because of the poor economy.

Business owners will tell you that when the price of gas hits $3.50 a gallon, it truly does affect how decisions are made. When it hits the $4 mark, things start to shut down in terms of the economy because the average person's disposable income is going to the gas pump instead of local businesses.

Our country at this time lacks an energy policy. We are also facing a jobs crisis of enormous magnitude. And our President is standing in the way of one project that can help address both of these problems: the Keystone XL Pipeline.

The proposed 1,700-mile pipeline would transport 700,000 barrels of oil per day from Canada to U.S. refineries in the gulf coast. Canada's oil sands are among the largest oil reserves in the world. As global demand for oil surges and Canada increases production, the addition of the Keystone Pipeline will ensure that Americans benefit from reliable and secure oil from our largest trading partner and trusted ally.

The $7 billion pipeline cost will be paid by the Keystone consortium and will fund nearly $ 1/2 billion in salaries. It will result in the purchase of $6.5 billion worth of materials, services, and other local economic activity. None of this will be funded with any Federal money. It is a no-brainer.

Some of these jobs are in my home State of Arkansas. Welspun Tubular Company, which makes pipes for the oil industry, has been producing pipe for the Keystone project. Unfortunately, due to the administration's delay on Keystone, the company has already begun to lay off workers in Little Rock. They have 500 miles of pipe that was produced for the project, ready to go, that is just sitting in the facility.

By delaying the start of the project, it is putting Americans out of work instead of putting Americans to work. Delaying this project costs thousands of well-paying jobs when Americans need reliable employment, and it hurts Arkansas businesses that have invested millions of dollars to help produce the pipeline. It is also a major step backward for energy policy goals of reducing our dependence on oil from unstable regimes.

When it comes to energy policy, I am kind of a T. Boone Pickens guy. I firmly believe that if it is American, we need to be using it. This goes for not only renewable forms of energy but the vast amount of fossil fuels we have been blessed with throughout the United States and directly off our shores. If we use what we have here in a responsible manner, we can be better positioned to pick and choose from whom we import our remaining oil.

Importing oil from Canada would accelerate America's independence from overseas oil by increasing the petroleum trade with one of our most reliable allies, one of our most reliable friends, instead of depending on the likes of Saudi Arabia and hostile regimes such as Venezuela for much of our oil. The amount of oil provided through this project is equal to half the amount we import from the Middle East. I doubt that anyone in this body would argue that any of the countries we import oil from in that region are more stable than Canada.

President Obama needs to quit pandering to the radical environmentalists. He needs to do what is best for the country, not what he perceives is best for his reelection. The Keystone Pipeline is what is best for America. Let's move forward.

Mr. President, I note the absence of a quorum.

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