|00:00:00||THE PURPORTED BENEFITS OF THE KEYSTONE PIPELINE HAVE ACHIEVED MYTHIC STATUS.|
|00:00:06||WE SAID THIS PIPELINE WILL LOWER GAS PRICES EVEN THOUGH TRANSCANADA SAYS GAS PRICES WILL GO UP.|
|00:00:11||WE'VE BEEN TOLD TENS OF THOUSANDS WILL BE HIRED TO BUILD IT EVEN THOUGH ABOUT 5,000 OR 6,000 TEMPORARY CONSTRUCTION JOBS WILL BE CREATED.|
|00:00:21||AND A PARTICULARLY EGREGIOUS DISSENT INTO FAIRY LAND, WE SAID THAT THE OIL WILL ENABLE US TO REDUCE OUR DEPENDENCE ON OIL FROM NOT FRIENDLY MIDDLE EASTERN OR VENEZUELAN NEIGHBORS.|
|00:00:39||WHEN WE LOOK AT THE IRANIANS THREATENING TO BLOCK THE STRAIT OF HORMUZ, I THINK THIS JUST ILLUSTRATES HOW CRITICAL IT IS THAT SUPPLY TO THE UNITED STATES BE NORTH AMERICAN.|
|00:00:49||BUT UNDER THIS BILL THE REPUBLICAN BILL THERE IS NO GUARANTEE THAT EVEN A DROP OF THE TAR SANDS OIL AND FUEL WILL STAY HERE IN THIS COUNTRY.|
|00:00:59||THEY KEEP SAYING HOW GREAT IT WOULD BE THAT WE HAVE A MILLION BARRELS OF OIL COMING TO THE UNITED STATES FROM CANADA.|
|00:01:07||THERE IS NO GUARANTEE IN THIS BILL AND THAT'S BECAUSE MANY OF THE REFINERIES WHERE THE KEYSTONE CRUDE WILL BE SENT PLAN TO RE-EXPORT THE REFINED FUELS.|
|00:01:19||THIS IS THE MAP OF WHAT THE OIL INDUSTRY PLANS ON DOING WITH THIS OIL.|
|00:01:24||COMES RIGHT THROUGH THE UNITED STATES AND THEN IT HEADS OFF TO ASIA, SOUTH AMERICA, OVER TO EUROPE.|
|00:01:31||AND VALERO, ONE OF THOSE REFINERIES, SAYS IN ITS INVESTOR PRESENTATION THAT IT PLANS TO REFINE THE CANADIAN CRUDE AT THE SAME FACILITY IT IS BUILDING IN PORT ARTHUR, TEXAS, AN EXPORT ZONE BECAUSE DOING SO LEVERAGES ITS EXPORT LOGISTICS.|
|00:01:51||OUR AMENDMENT WILL SAY THIS OIL COMING THROUGH THIS PIPELINE FROM CANADA STAYS HERE IN THE UNITED STATES AND DOESN'T HEAD OFF TO CHINA.|
|00:01:59||THAT'S WHAT THE AMENDMENT'S ALL ABOUT.|
Mr. MARKEY. Mr. Chairman, I yield myself 2 minutes.
Mr. Chairman, the purported benefits of the Keystone pipeline have achieved mythic status. We have been told that this pipeline will lower gas prices, even though TransCanada says gas prices will go up. We've been told tens of thousands will be hired to build it, even though only about 5,000 or 6,000 temporary construction jobs will be created.
And in a particularly egregious descent into Fairyland, we have been told that the oil coming through this pipeline would enable us to reduce our dependence on oil imported from unfriendly Middle Eastern or Latin American nations.
Last month, Canadian Prime Minister Stephen Harper even said, when you look at the Iranians threatening to block the Strait of Hormuz, I think this just illustrates how critical it is that supply for the United States be North American.
But under this bill, the Republican bill, there is no guarantee that even a drop of the tar sands oil and fuels will stay here in this country. They keep saying how great it would be if we had a million barrels of oil coming into the United States from Canada. There's no guarantee in this bill, and that's because many of the refineries where the Keystone crude will be sent plan to re-export the refined fuels.
This is the map of what the oil industry plans on doing with this oil. It comes right through the United States, and then it heads off to Asia, South America, over to Europe. And Valero, one of these refineries, says in its investor presentation that it plans to refine the Canadian crude at the same facility it is building in Port Arthur, Texas, an export zone, because doing so leverages its export logistics.
Our amendment will say this oil coming through this pipeline from Canada stays here in the United States and doesn't head off to China. That's what the amendment is all about.
I reserve the balance of my time.