The Keystone Pipeline debate is heating up once again- after President Obama called its job-creating abilities into question.
The pipeline, which would carry 830,000 barrels of crude oil a day between the Canadian Oil Sands and Gulf Coast refineries, has created controversy since it was first proposed in 2008. Those who oppose the pipeline claim that it could be harmful to the environment while those in favor point to its economic potential. Both sides are eagerly awaiting a final ruling on the project from the White House which is expected by the end of the year.
“The basic thing,” says Steve Forbes, CEO of Forbes Media and longtime Republican, “is that [President Obama] does not like oil, gas, or coal.”
Forbes tells The Daily Ticker that the Keystone Pipeline would create at least 20,000 jobs. “If you don’t approve pipelines,” he says, “we’re going to be moving more and more oil on trains which is just begging for accidents.”
Forbes also believes that the dangers of fracking, or drilling shale rock, are grossly overstated. “[Fracking] does not harm the water, it’s safely done, we’re doing more and more of it and they have yet to cite a disaster.”
Fracking is a clean, safe energy, says Forbes, and it's also boosting local economies. “Because of fracking Pennsylvania is prospering, towns moving up- areas that had been depressed before. Meanwhile upstate New York looks more and more like East Germany before the wall fell.”
What does Forbes think about global warming? Watch the video above to find out.
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