Americans are turning to the Federal Government for relief from high gas prices. However, approval of the Keystone XL pipeline will lead to exactly the opposite result; it will actually raise gas prices--principally in the Midwest. In fact, some of the States that will suffer the worst gas price increases are the same ones that will have to bear the environmental burden of this pipeline. This is not just my conclusion, this is the conclusion of TransCanada, the company that wants to build the Keystone XL pipeline. This is the conclusion of international energy consultant Purvin and Gertz, Inc., the company that TransCanada hired to evaluate its Keystone XL pipeline. And this is the conclusion of respected oil market economist Philip Verleger. That is why TransCanada wants to build this pipeline. My amendment simply requires the Secretary of Energy to analyze the effect of the proposed pipeline on increased gas prices for American consumers and to determine if this pipeline is just an effort to manipulate the market for crude oil in the United States. The proposed pipeline would carry up to 900,000 barrels per day of tar sands oil from Alberta, Canada over 2,000 miles to refineries on the U.S. gulf coast. Proponents have claimed that it would bring down oil prices.…
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