Keystone Pipeline Oil & Gas Industry

Running head: Keystone Pipeline

Keystone pipeline Oil & Gas Industry

Ronnie Wright

National University

Keystone Pipeline

The reliance of fossil fuels has not changed in over a hundred years and has only grown. Granted there is more concern and technology now than then with Solar, Thermal, Wind and biofuels. But these other sources of power aren't at the level the world and especial the US needs them to be yet. This is why the Keystone pipeline is so critical for the US and our dependence on oil, until those other environmental friendly energy sources become more readily available and more efficient and cost effective. The world and the US are still going to be dependent on oil.

Reliance

The US dependency on oil and the slow process for approval is a travesty to what is going on in the world and US economy currently. The wrong message is being sent to the world and especially the American people. Everyone knows the world is dependent on oil. For instance the US is the #1 consumer of oil at an alarming rate of 18,690,000 bbl/day as of 2009. (Factsbooks, 2012) The only reason that the US is still the #1 economy in the world is what we are able to produce and offer our services to each other and the rest of the world. Because of our ability to convert the energy from oil into other essential uses of that energy, especially electricity, transportation, heating and the list can go on. "Americans constitute less than 5% of the world's population, but consumes 26% of the world's energy to produce 26% of the world's industrial output. They account for about 25% of the world's petroleum consumption, while producing only 6% of the world's annual petroleum supply and having only 3% of the world's known oil reserves." (NRDC, 2012) This dependency is not going to change anytime soon, and in order for us as a nation to remain competitive in the world market and maintain our lifestyle, we must do what's necessary and in the safest and most efficient way possible of utilizing the world's oil supplies.

Politics

With the high cost of doing business and the increasing size of the population the requirement for energy is becoming greater and greater every year. In addition the politicians always want to make a statement and create more red tape than necessary for approval to start a project which in the long run cost more jobs, money and time. This is an unnecessary expense that this country can't afford right now. The current situation is a new application was submitted to the State Department for approval to only be told that the final decision won't happen until first quarter 2013. "The