On the recordMarch 6, 2002
Basically it brings the route down through Alaska. It is a route of over 2,000 miles. The amount of jobs it would create is very significant. It would create 400,000 new jobs. And this is an unbelievably large figure, but it is accurate. This is pipe that is more than 50 inches in diameter. We would need 5 million tons of steel. I would hope it would be U.S. steel: 5 million tons. It is hard for me to comprehend that, but that is what it would take. The bill would provide $10 billion in loan guarantees for the construction of this pipeline and would bring 35 trillion cubic feet of natural gas to the lower 48 States. That is significant. We can all readily agree that the United States needs to lessen its dependence on foreign oil. The best way to reduce our dependence on foreign oil is to diversify our energy supply by developing renewable energy resources.
Source
govinfo.gov




