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EPA: Keystone Project Could Cause a Boost in Emissions

National Journal : “The Environmental Protection Agency on Tuesday said the collapse in oil prices has cast doubt on the State Department’s conclusion that building the Keystone XL oil-sands pipeline would not cause a big boost in greenhouse-gas emissions.”  

“EPA’s comments, in a Feb. 2 letter to State made public today, are an important twist in the battle over Keystone, because President Obama has said he will not approve the pipeline if it would ‘significantly exacerbate the problem of carbon pollution.’”  

“EPA’s new letter urges State to give this analysis of the effects of lower prices ‘additional weight’ in light of recent oil market tumult. Oil prices have fallen by 50 percent in the last seven months.”  

“The agency’s letter notes that oil has been trading in the $50-a-barrel range and cites State’s forecast that sustained oil prices in the $65-$75 range, coupled with the higher cost of transporting crude by rail versus pipelines, could have a substantial effect on oil-sands production levels.”

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