By all accounts, the rich aroma of oil is always present around Fort McMurray, Alberta--the heart of the global tar sands industry. Now something else is in the air--an impending decision on the Keystone Pipeline.
And President Obama threw everyone for a loop last week with this statement:
"Allowing the Keystone pipeline to be built requires a finding that doing so would be in our nation's interest. And our national interest will be served only if this project does not significantly exacerbate the problem of carbon pollution. The net effects of the pipeline's impact on our climate will be absolutely critical to determining whether this project is allowed to go forward. It's relevant."
TransCanada (TRP), the company that proposed the pipeline, immediately rushed out a statement highlighting a five-year review that says Keystone fulfills Obama's stated requirements on carbon pollution. The Keystone project would carry 800,000 barrels of oil a day from Canada to the Gulf Coast, crossing six states along the way.
Oddly enough, environmentalists also took heart from Obama's speech. Sierra Club head Michael Brune said he now expects Obama to reject the pipeline, saying the evidence is "very strong and compelling" that the pipeline will speed up climate change.
So what does it all mean?
Sen. Bernie Sanders, Independent of Vermont, tells The Daily Ticker: "I think to approve the Keystone Pipeline is a disaster if we are serious about understanding that global warming is the greatest planetary crisis that we face." Watch the video above to see what Sen. Sanders thinks should happen next with the pipeline.
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