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Business Leaders See Risks in New State Department Report on Keystone XL Pipeline

Business Leaders See Risks in New State Department Report on Keystone XL Pipeline

Published 02-03-14

Submitted by American Sustainable Business Council

The U.S. State Department released the findings of its Final Supplemental Environmental Impact Statement on the Keystone XL Pipeline on Friday, concluding that: “The total direct and indirect emissions associated with the proposed project would contribute to cumulative global GHG emissions.” In response, David Levine, CEO and Co-founder at the American Sustainable Business Council (ASBC) said, “The State Department’s assertion that the Keystone XL pipeline will exacerbate the climate crisis should prompt President Obama to reject the pipeline. Climate change disproportionately hurts U.S. small businesses. We need clean energy that will strengthen all sectors of the economy.”

TransCanada, the pipeline company, has touted the job creation potential of the project, but its figures have been proven an exaggeration, and the U.S. State Department itself estimated in March 2013 that the project will ultimately result in only 35 permanent jobs. Levine said, “If our nation is serious about job creation in the energy sector, we need to focus on the development of renewable energy which holds forth greater promise of job creation than the fossil fuel industry.”

Levine adds that President Obama should weigh the full-cost of the Keystone XL pipeline. “It is our view that the market would not be able to bear the true public cost of the pipeline without major government subsidies. If the private sector were to internalize the full cost, including the creation of a fully adequate sinking fund against damage from spills, land despoliation, water clean-up, medical costs, carbon emissions, and other damages, it would not be economically feasible,” he said.  A final decision on the fate of the pipeline is likely several months away.

A follow-up report, before the pipeline can move ahead, will focus on whether the pipeline is indeed in the U.S. national interest. The public will be allowed to weigh-in on this during an official comment period. Fran Teplitz, Policy Director for ASBC partner Green America said, “It’s crucial that the sustainable business community raise its voice yet again against the Keystone XL pipeline – against this continued reliance on fossil fuels; against exaggerated job creation claims; against unnecessary threats to our health, water, and land. We need to speak up in support of massive investment in clean energy and energy efficiency, now more than ever.”

Richard Eidlin, ASBC Policy Director said, “The Keystone pipeline does not make economic sense. We need investment in renewable energy for domestic use – not a massive oil pipeline through our country in order to export fuel overseas from the Gulf of Mexico. This project will not increase U.S. competitiveness in the global clean energy economy. As business leaders, we urge the Obama Administration to oppose this project and get our economy moving in the right direction with clean energy.”

ASBC and the Small Business Majority released a report last year showing that extreme weather events impact small businesses more negatively than larger businesses. That report may be found here: http://www.smallbusinessmajority.org/small-business-research/clean-energy/

The American Sustainable Business Council and its member organizations represent more than 200,000 businesses nationwide, and more than 325,000 entrepreneurs, executives, managers and investors. The council includes chambers of commerce, trade associations and groups representing small business, investors, microenterprise, social enterprise, green and sustainable business, local living economy and women and minority business leaders. ASBC informs and engages policy makers and the public about the need and opportunities for building a vibrant and sustainable economy. www.asbcouncil.org

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American Sustainable Business Council

American Sustainable Business Council

The American Sustainable Business Council (ASBC) is a national coalition of mission-driven businesses, social enterprises and sustainable business networks working to create a vibrant, just and sustainable economy. What unites us is a deep belief that we must move to a new economy that is grounded in principles of sustainability and equity.

The Council represents over 55,000 businesses and enterprises and more than 150,000 executives, owners, investors, entrepreneurs and business professionals. It is comprised of partners, which are organizations that represent businesses and social enterprises as well as entrepreneurs, executives, owners and investors committed to building a vibrant, just, and sustainable economy.

ASBC promotes policy change by educating and informing the business community, policy makers and the media about the business case for change, and by engaging the leaders of businesses and enterprises in building broad support for the policies America needs. We work on a range of policy areas, including: financial reform, health care, chemicals policy, climate change and business taxes.

We believe that the policies that will lead us to a sustainable and just economy are also good for business and good for America. Making the right commitments and investments will produce more and better jobs, build strength in key technologies, and make the U.S. more independent and secure.

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