From The Corporation Commission
Calling it too important to fall victim to politics, the Oklahoma Corporation Commission is praising a decision by TransCanada Corporation to build the southern portion of the Keystone XL pipeline project from Oklahoma to Texas.
Commission Chair Dana Murphy said the project is part of the answer to a long-standing concern of Oklahoma producers and state officials.
“The Commission has long been concerned and held meetings on the problem posed by the fact that the terminal in Cushing, Oklahoma can receive far more oil than it’s capable of shipping out,” said Murphy. “This will help ease that concern.”
Commission Vice Chair Bob Anthony said the decision comes just in time.
“During the delay of a final decision on the entire Keystone XL project, we have seen crude and fuel prices soar, badly needed jobs that the pipeline would create in the U.S. go lacking, and Canada start to explore an alternative plan to sell some of the oil we need to China instead,” Anthony said.
Commissioner Patrice Douglas called the company’s decision good news for Oklahoma.
“The southern part of the pipeline is the key needed to unlock the glut of oil now held in storage in Cushing because of a lack of pipeline capacity,” Douglas said. “The project will enable Oklahoma producers to get their oil to market, meaning more usable American oil for the U.S. and a stronger economy for Oklahoma.”
The southern part of the Keystone XL pipeline project will transport oil from Cushing to Gulf coast refineries. Unlike the northern segment of the Keystone XL project, which would start in Canada, the southern segment does not require presidential approval. TransCanada estimates the southern project will create 4,000 jobs.
