Lufkin, TX — A transcontinental pipeline may soon be constructed along Angelina County’s western border if a presidential permit is granted later this year.
Jim Prescott, an independent contractor who is performing media relations for TransCanada, said during a visit to Lufkin this past week that the privately funded project would eventually stretch for more than 4,000 miles, from Canada to Texas, and cost roughly $13 billion in capital investments.
Due to the high demand for oil in the United States, Prescott said, the Keystone Pipeline System would lessen the need for overseas crude, create economic benefits and decrease the carbon footprint made by oil being transported across the Atlantic Ocean.
“It does deliver economic benefits. It does strengthen economic security. It is a better alternative to shipping oil from one side of the world to the other,” Prescott said.
Upon completion of the project, 1.1 million barrels of crude oil per day would be delivered to U.S. refineries in the Midwest and Gulf Coast from Canada, according to a study conducted by the Perryman Group out of Waco.
Phases I and II have been completed and are in operation from Hardisty, Alberta, Canada, to Cushing, Okla., and to Patoka, Ill. Phase III would extend the pipeline to refineries in Houston and Port Arthur.
The Perryman Group study shows that “TransCanada’s direct investment of approximately $1.6 million in Texas for the construction and development of Keystone leads to gains in business activity in the state of Texas at an estimated $2.3 billion in total expenditures, $2 billion in output and 50,365 person-years of employment” based on a lifespan of 100 years.
Specifically in Angelina County, total expenditures will increase by $147 million, gross product by $127.2 million, personal income by $105.5 million and person-years of employment by 3.265, according to the study.
Prescott said about 10 to 20 percent of those hired for the project could come from the local community. Property taxes could also increase by $23.1 million, according to the study.
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