A Few Other Things Happening in the Oil Industry

Editor’s Note: The following appears in the White House Blog, of the America First Policies website. Perhaps the most exciting developments in the last couple of weeks have occurred in connection with the development…

A Few Other Things Happening in the Oil Industry

Editor’s Note: The following appears in the White House Blog, of the America First Policies website.

Perhaps the most exciting developments in the last couple of weeks have occurred in connection with the development of the American energy industry. In addition to what I have covered, here are a few other things:

The approval of the Keystone XL pipeline received final approval on Dec. 14, shortly after New Year’s Eve. This was a tremendously important project for thousands of hard-working Americans in the Midwest and certainly gave these men and women a reason to celebrate. As soon as construction commenced, Americans began hearing about all the jobs this project would create, not just on the pipeline, but throughout the region. The pipeline industry and its employees have been extremely anxious to feel this confidence because of their existing, deep relationship with Obama’s administration. On Dec. 15, Chevron won approval to ship two million barrels of crude oil a day, also beginning to spread across the Midwest and beyond. This represents the potential for even more jobs and business-to-business partnerships, and I’m confident this expansion will continue to secure even more job creation, energy independence, and better energy policy. Interestingly, both Keystone and the first-ever bitumen pipeline to be built in America, Kinder Morgan’s Dakota Access Pipeline, were areas where there was strong and negative reaction, both to President Obama and those Republicans who supported his efforts to deny permits for this infrastructure. The American energy renaissance has captivated the country, and I am proud to have played a large role in making this happen. Then came the success of the Energy Department’s Renewable Fuel Standard (RFS) and the decision to completely phase out the Renewable Fuel Standard (RFS) on April 1, 2020. This decision will ensure that biodiesel, the main factor driving our total renewable fuel production for more than a decade, remains at its highest levels for decades.

Although the two areas above have in many ways led the way for energy in recent months, what I am most excited about is where the process of building our world-class energy infrastructure is moving. This week, the DOE and DOE’s Office of Fossil Energy and Department of Commerce’s Bureau of International Trade opened the bidding for additional proposals for a separate pipeline that, if constructed, will connect the Dakotas to the Illinois region. While final proposals are due in the spring, a best value award would be announced by June. This will be great news for a number of producers, including an Ohio-based refinery, in addition to power generation facilities. The Wisconsin’s American Petroleum Institute (API) has its own pipeline proposal that is expected to see an announcement from the D.C. interagency sooner rather than later. API recognizes the impact this pipeline will have on American consumers, manufacturers, and farms, and I can’t think of a better way to revive the manufacturing sector while connecting American producers to customers.

The Administration’s support for renewable energy resources presents a unique opportunity to revive our manufacturing sector. It’s hard to see how the future of these industries and our nation’s future does not include a reasonable balance.

Conclusion

Today, U.S. energy resources have never been greater. I have long argued that the business of American energy can and should be led by industry and jobs, and not by the government or political influence. We’ve seen this approach work for decades, and it will continue to serve our nation well as long as I am in the White House.

We are delighted that President-elect Trump has given this an enthusiastic green light and welcome the change we can expect to see on the industry and the way American industries and companies are developed, if not traded across the globe, at least within the United States.

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