President’s Executive Orders Show Support for Infrastructure Investment Expediting Keystone XL and Dakota Access pipeline projects is right decision for U.S. economy WASHINGTON, DC – The American Council for Capital Formation today released the following statement from ACCF Vice President of Communications Robert Dillon on President Donald Trumps’ executive orders expediting the Dakota Access Pipeline and Keystone XL Pipeline projects: “In signing the Keystone XL and Dakota Access executive orders, President Trump is following through on his campaign promise to reverse the previous administration’s approach of abusing the regulatory process to pursue a political agenda. Unfortunately, that agenda came at // Read More
In a positive step for U.S. energy exports, the Federal Regulatory Energy Commission (FERC) recently approved a new project that will help bring clean-burning liquefied natural gas (LNG) to new markets. The long-awaited Golden Pass export project, based in Sabine Pass, Texas, not only will spur economic growth in the surrounding communities, but will supply a source of stable and secure energy to demanding markets.
Energy projects like Golden Pass provide opportunities for local communities and businesses to succeed and grow. An increase in direct and indirect jobs through construction, maintenance, and operations of the project are just one example of the many added benefits projects provide. Additionally, our nation’s economy will continue to grow as new markets become available for American products allowing us to stay competitive in this challenging global economy.
Increased American exports from the Golden Pass project will also open doors for greater competition in places like Europe, where many Balkan nations, Poland, and Ukraine are almost entirely reliant on Russian sources of energy. As the number one producer of LNG, the U.S. has the potential to make significant inroads into areas where Russian companies have monopolized the industry and in most cases, caused instability to those who depend on Russian gas to heat their homes and businesses in the winter. American LNG is not only beneficial for the energy security of our allies, but it provides a boon to the economy.
The approval of this project is a big step towards furthering America’s role as an energy leader throughout the world, but the approval process of much-needed export projects is unfortunately time consuming and draw out – costing valuable time and money. Approval for projects like the Golden Pass can be a very slow, often taking an astounding two years to complete. Given the high demand for clean-burning LNG, the Department of Energy needs to cut the bureaucratic tap and streamline its processes. With an improved, more efficient approval process, comes more jobs for hardworking Americans and an increase in exports that help our allies rely less on Russian producers that hold them hostage.