Biden admin canceling Keystone ‘not going to solve global warming’: Steel pipe and tube manufacturer

Biden canceling Keystone pipeline ‘not going to solve global warming’: Zekelman Industries CEO

Zekelman Industries CEO and Chair Barry Zekelman argues the Biden administration is doing a ‘disservice’ to the U.S. oil industry.

Barry Zekelman, CEO and Chair of Zekelman Industries joined "Mornings with Maria" Friday to discuss the damage Biden's energy policies has had on the steel industry as the administration looks to tackle climate change, arguing canceling oil pipelines is "not going to solve global warming." 

BARRY ZEKELMAN: You know, when they canceled the Keystone pipeline, it's really a red herring, right? That's not going to solve global warming. All we did is export the demand for oil and the supply of oil to other countries who quite frankly, produce it in a much dirtier way than the US. The US. is the cleanest country for producing fossil fuels. And clearly, the need is still there.

AT GLOBAL ENERGY CONFERENCE, LEADERS ACKNOWLEDGE FOSSIL FUELS NOT GOING AWAY SOON

We're asking countries who are not our friends Russia, Venezuela, even Saudi Arabia now, potentially Iran, to ship us more oil. So we're doing a disservice to the industry. But when you do that, you also limit capital investment by canceling that pipeline. You know, you've got companies that spend $15 billion putting that in, and now it's gone.

Miles of unused pipe, prepared for the proposed Keystone XL pipeline, sit in a lot outside Gascoyne, North Dakota. (Photo by Andrew Burton/Getty Images) Photo credit: getty Images (getty Images)

BIDEN ANNOUNCES BAN ON US IMPORTS OF RUSSIAN OIL, WARNS GAS PRICES WILL 'GO UP FURTHER'

And when Jen Psaki stands up there and says, Well, just drill the area, there's 9,000 permits on there. It's not quite that simple. You have to have the infrastructure to move this oil pipelines. Right now, it's being moved by railcar and by truck, a very inefficient and unsafe way, and taking up that capacity. So you have to move it, you have to get it to refineries, you have to get it to LNG plants, you know, all of those things. So that's a lot of other investment that has to happen. That has had a dramatic effect on the steel industry and our ability to ship and supply that industry. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

WATCH THE FULL INTERVIEW BELOW:

US is cleanest country to produce fossil fuels: Zekelman Industries CEO

Zekelman Industries Chair and CEO Barry Zekelman discusses the economic impact of Biden’s energy policies on the steel and oil industries as the administration looks to U.S. adversaries for oil.

Source: Read Full Article

click fraud detection