@booklet {52340,
	title = {Exports imports and energy security: Keystone XL Pipeline and the role of Canadian oil sands},
	year = {2011},
	note = { An EPRINC Briefing Memorandum. },
	pages = {5 pages },
	publisher = {Energy Policy Research Foundation },
	address = {Washington, DC  },
	abstract = {Over the past 18 months EPRINC has published several assessments on the economic benefits of the proposed Keystone XL pipeline.1 The project has been subject to an environmental review for the last three years with expectations a decision would be made by early 2012. However, the Obama Administration recently decided to delay a decision on whether to issue a permit for the pipeline until 2013 in order to evaluate an alternative route in Nebraska. Congressional concerns over further delays on the project are now generating legislative initiatives to accelerate a presidential decision on the project.
The pipeline is opposed by many environmental groups who seek to constrain further development of Canadian oil sands and view halting the pipeline as an effective strategy to do so. Opponents of the project also have raised concerns that the benefits of the project are over stated since rising shipments of Canadian oil sands to the U.S. Gulf Coast may also yield higher export volumes of refined petroleum products.
As shown in Figures I and II below, the U.S. imports approximately 11 million barrels a day (mbd) of crude oil and petroleum products.2 But the U.S. also exports over 3 mbd of petroleum products. Over the last five years, rising exports of refined petroleum products have contributed to the decline in net imports, which have fallen by 3 mbd to 8 mbd. Of the 8 mbd of net crude and petroleum product imports, 2.5 mbd are sourced from Canada.},
	keywords = {pipeline},
	url = {http://eprinc.org/pdf/EPRINC-KEYSTONE-PRODUCTEXPORTS-2011.pdf},
	editor = {Energy Policy Research Foundation, Inc.}
}
