A new study from Consumer Watchdog says that Keystone XL pipeline will raise American gas prices 20 cents to 40 cents in the Midwest with no long-term economic benefit to U.S. economy.
The report finds that:
. Drivers, especially in the Midwest, would pay 20 cents to 40 cents more at the pump if the disputed pipeline were built, as the current discount of up to $30 a barrel for Canadian oil disappears.
. The true goal of multinational oil companies and Canadian politicians backing the pipeline is to reach export outlets outside the U.S. for tar sands oil and refined fuels, which would drive up the oil’s price.
. With U.S. oil production rising fast, any “energy security” benefit for the U.S. would vanish as American oil output exceeds that of Saudi Arabia in about 2020, according to the International Energy Agency.
But it will create like 20 jobs!!!