NRDC Report: Keystone XL Pipeline Will Lower US Gas Prices a Myth
At a telephone press conference held on Tuesday morning, the Natural Resources Defense Council (NRDC) made public comments and released a supporting report directly refuting the popular myth that the proposed Keystone XL Pipeline from Canadian tar sands would lower gas prices.
According to statements made by NRDC experts Anthony Swift, NRDC report author and attorney; Lorne Stockman, director of research at Oil Change International; and Ian Goodman, an economist at the Goodman Group the Keystone XL Pipeline would not lower prices but in fact, the opposite would happen.
"One of the most misunderstood issues surrounding the Keystone XL tar sands Pipeline is its impact on U.S. Gasoline prices," said Swift. "Originally when Trans Canada proposed the project to Canadian regulators in 2009, they pitched the pipeline as a way to increase the cost of oil in the United States to provide more revenue for Canadian producers.
"Since then, proponents of the measure for the pipeline in the United States have pitched it as a means of decreasing U.S. gasoline prices," said Swift.
More to come.