February 1, 2015

U.S. Senate Approves Keystone XL Pipeline Bill, But Congress, White House Still Need To Hear From You.

Last week on a bipartisan 62-36 vote, the U.S. Senate passed a bill that would approve the Keystone XL Pipeline. (Click here to see how your senators voted.) 

The House passed a similar bill in January so now leaders in the two chambers are debating whether to convene a conference committee to resolve differences between the two chambers’ bills or to simply ask the U.S. House to approve the Senate’s version. (MSCI supports both versions of the bill.) According to Congressional Quarterly (subscription required), “Senate Republicans have indicated they expect the chambers to go to conference on the proposals — a process that could prove complicated since the Senate bill now includes provisions such as messaging language on climate change that House leaders may try to strip.” 

As a reminder, President Barack Obama has pledged to veto this bill so MSCI once again encourages its members to call or write to the White House urging the president not to veto this bill and to sign it instead. As a reminder, the pipeline would:

  • Deliver 830,000 barrels of North American crude oil per day to U.S. refineries;
  • Create 42,100 direct, indirect, and induced jobs during construction; and
  • Increase state and local property tax revenue by $5.2 billion over the pipeline’s operating lifespan.

You can also make your voice heard on this issue by signing the U.S. Chamber of Commerce’s petition in favor of the pipeline here