The latest Bloomberg Businessweek features ExxonMobil CEO Rex Tillerson’s assessment of the fight over the Keystone pipeline.
When you think of U.S. policy, the Keystone pipeline comes to mind.
This is a project that’s been four years in the regulatory process, over 100 public meetings. Now a second environmental impact statement has been prepared [saying] there’ll be no measurable harm to the environment. It’s an important example of the regulatory struggles we have in this country. The processes are lengthy and subject to reopening.
Why have environmental groups made Keystone such a priority?
There’s a segment of the environmental groups that’s very concerned about the burning of fossil fuels. In a sort of obtuse way, they took a view that if they could prevent the transport of crude oil from Canada to the U.S., then that would throw an obstacle in the way of future developments. I think they probably misjudged Canada’s resolve.
