Keystone XL will create jobs while promoting energy security, serving U.S. refiners as a vital link to a reliable source of North American crude oil
WASHINGTON, Sept. 13 /PRNewswire-USNewswire/ -- Join TransCanada Corporation President and CEO Russ Girling plus leaders of labor unions that represent welders, heavy equipment operators, laborers and the Teamsters, as well as the Pipe Line Contractors Association, for a key announcement related to the expansion of the TransCanada Keystone Pipeline – Keystone XL.
They will announce that they have reached a project labor agreement (PLA), a pre-hire collective bargaining agreement that establishes the terms and conditions of employment on construction of the project.
WHAT: Announcement of labor agreement for proposed Keystone Gulf Coast Expansion ProjectWHEN: Tuesday, September 14, 2010 at 10:30 a.m. WHERE: AFL-CIO, Building Construction Trades Department, AFL-CIO, 815 16th Street, N.W. 6th Floor The Keystone XL pipeline will promote energy security because it is a vital link for U.S. refiners to a reliable onshore source of North American crude oil. Keystone XL will deliver oil from a reliable energy-trading partner and replace oil imported from undependable and environmentally costly crude-oil sources. Plus, pipelines are the most environmentally responsible, safest way to transport crude oil and petroleum products. Once approved by the Federal government and completed, Keystone XL will supply roughly half the amount of oil that the U.S. currently imports from the Middle East or Venezuela. This permanent increase in stable oil supplies provided for by expansion of the Keystone pipeline will add more than 250,000 permanent jobs for U.S. workers and add more than $100 billion in annual total expenditures to the U.S. economy. During the construction phase of the expansion, Keystone will generate more than $585 million in state and local taxes for the states along the pipeline route and stimulate more than $20 billion in new spending for the U.S. economy. With more than 50 years experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 60,000 kilometers (37,000 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 11,700 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com SOURCE TransCanada