Posted on 02/14/2021 7:54:00 PM PST by karpov
President Biden shutting down the Dakota Access pipeline would result in Americans paying higher prices at the supermarket, according to experts.
The Biden administration will decide the fate of the Dakota Access pipeline, which was approved by former President Donald Trump in 2017 after being denied by former President Barack Obama, following a court-ordered environmental review.
More than 200 celebrities recently sent a letter to Biden asking him to permanently shut the pipeline due to its impact on the environment and its impact on the Indigenous people who live in the area.
The Biden administration did not respond to FOX Business’ request for comment.
The Dakota Access pipeline transports 570,000 barrels of oil each day from the Bakken Shale in North Dakota through South Dakota, Iowa and to an oil terminal in Illinois. It is the safest and most efficient way to transport the oil, according to operator Energy Transfer Partners.
Efforts to stop the delivery of that energy will “hit the American people directly in the pocketbook,” said Frank Macchiarola, senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute.
Agricultural economist Elaine Kub said in a legal filing last fall that shutting down the Dakota Access pipeline would cost Corn Belt farmers more than $1 billion in annual revenue and “drive up food costs for consumers” as oil would command keyspace on railroad cars needed to transport agricultural products long distances.
Shipping corn from Minneapolis to Portland costs $1.31 per bushel by rail, but would cost $3.84 by truck, Kub said.
The American Farm Bureau Federation “anticipates increased transportation costs for agriculture as a result of the increased transportation competition between agriculture products and oil,” a spokesperson told FOX Business.
(Excerpt) Read more at foxbusiness.com ...
I am hoping for $6 gas 6% t bill rates and $15 min wage. Let the chaos begin
I am hoping for $6 gas 6% t bill rates and $15 min wage. Let the chaos begin
His only principle is wanting to be President.
These celebrities don't know anything about the environment ... nor anything else. It will significantly increase "greenhouse gases" due to having to ship the oil by rail and truck.
It will cause a lot of job losses and a lot of lost revenue. Then we have this increase in world food prices go with it.
Making people poor and keeping them poor - and making the environment worse.
Well done, celebrities.
If Biden keeps true to his nature by being a complete F-up, my oil and gold mining stocks should do well.
I know. That’s why I included the sarc tag after her name. Only an insecure loser phd uses the “Doctor” title outside of the classroom.
How much cognizance he has doesn’t matter much if the result is the same. Throughout the campaign he seemed to have moments when he seemed ok and then a lot rambling idiocy and we were trying to figure out how long this could last. Well its lasted way longer than most of us thought. You may be right and he is like a figurehead and this whole presidency is like Weekend at Bidens. In a similar way we wondered how much 0 was responsible and how much was behind the scenes.
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