Published: January 19, 2012
Washington – Business Roundtable (BRT) President John Engler said today that the State Department’s decision to walk away from the Keystone XL pipeline project amounted to a deferral of thousands of jobs and improved U.S. energy security.
“In its report yesterday, the President’s Council on Jobs and Competitiveness declared it imperative that the United States adopt an ‘all-in’ approach toward energy development,” Engler said. “One day later, the State Department walks away from a project that would create thousands of jobs, strengthen the economy and help America move toward energy security.”
“That’s not going ‘all-in’ on energy, that’s folding your hand,” he said.
“We appreciate that the State Department will allow TransCanada to reapply. In fact, I am confident the Keystone pipeline will be approved in the future because it is in the national interest,” Engler said.
“There will always be people who oppose any permitting of projects like the Keystone pipeline, but our government will have to say yes to these kinds of projects if our nation is going to grow, prosper and compete.”
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with over $6 trillion in annual revenues and more than 14 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay $163 billion in dividends to shareholders and generate an estimated $420 billion in sales for small and medium-sized businesses annually.
BRT companies give nearly $9 billion a year in combined charitable contributions.