BEVERLY HILLS, CA (robinsrowe.com) 2021/1/22 – With Keystone XL pipeline shut down, the job cuts are mainly in Alberta, Canada. Not 10,000 USA jobs. And, the 3,500 jobs cut in South Dakota are for temporary construction workers, not permanent jobs anyway.
The futile effort to keep Keystone going was not to save workers, but to save banks. Wall Street banks led by JPMorgan extended Keystone $1.5B in credit, financed at a time when oil prices were at an all-time high. With oil now at $50/barrel, Keystone is a money-losing operation that will go bankrupt anyway.
Regarding the local South Dakota Keystone construction budget estimated at $100M that is going away, South Dakota had much more money than that available in COVID relief funds from Congress that it chose not to spend. Instead of a $100M pipeline, South Dakota could have had construction workers build over $100M worth of COVID hospitals. But did not.
Somebody said about Keystone that the Democrats should keep hands off “our land”. Keystone isn’t on our land. A racist effort by the government to steal land, to route a noxious oil pipeline through Indian lands using eminent domain (confiscation) after neighboring white communities refused to allow such a thing to be built near them. Native Americans are relieved it won’t be built on their land either.
With many oil and coal companies going bankrupt due to low energy prices, political parties may be less able to represent the interests of fossil fuel company donors or to retain oil lobby followers. The government has failed to steal more land from the People.